The Move towards a Cashless Economy
With the historic announcement on the 8 th of November, in India by the honorable Prime Minister Mr. Narendra Modi, a new era was ushered n to the Indian Economy. With the nullifying of the currency of highest denominations, the PM did away with about 86% of currency which so far had been in circulation. While the first few months, since the demonetization news broke out, were of extreme difficulty and unease. This was the case until the government came up with a new and innovative solution to end, almost all of the problems of monetary nature. The prime minister urged us all to go digital, by taking to various applications and electronic wallets, thus paving way for a more digitized, cashless economy. While the move towards a more efficient, hassle free economy was encouraged, at the same time the government began offering various attractive incentives, for one and all in the lieu of setting up a proper foundation for a cashless economy. With the announcement of two sc...