A Study on Cashless Economy of India

Abstract

The digital economy takes shape and undermines conventional concepts of how enterprises arrange themselves; how businesses interact and how customers get services, information and commodities India's population is so big and diverse in terms of demographics, socio-cultural factors, and economic variables that any change in basic economic policy would require time. As a result, India's "cashless economy" is becoming a reality, because of factors like high-speed internet, a vast mobile network, expanded digital infrastructure, government policies and initiatives as well as the public awareness and acceptance. Every day, billions of internet connections between individuals, corporations, devices, data, and processes generate economic activity. Hypo connection, or the rising interconnectivity of people, corporations, and machines via the Internet, mobile technologies, and the Internet, is the backbone of the digital economy. This paper is a review on how the digital economy is evolving, testing long-held assumptions about how companies organise themselves, communicate with other companies, and receive services, information, and commodities from customers.