Question

can india go cashless: essay (200+ words)​

Answer 1

Answer:

Cashless India is a mission launched by the Government of India led by Prime Minister Narendra Modi to reduce dependency of Indian economy on cash and to bring hoards of stashed black money lying unused into the banking system. The country embarked upon this transition to a cashless economy when the government took the revolutionary step of demonetization of old currency notes of Rs 500 and Rs 1000 on November 08, 2016. This move was targeted at the fake currency circulating in Indian market and the black money that somehow escaped the radar of tax authorities.

Post demonetization acute shortage of currency in Banks and long queues outside ATMs, gradually turned people towards digital transactions, one of the prime requirements under cashless India. If the government succeeds in providing secure and fast digital payment methods to the consumers and merchant establishments across the nation, then the dream of India becoming a completely cashless economy will materialize.

Answer 2

Answer:

Short Essay on Cashless India 200 Words in English

In the view of making India a cashless economy, Prime Minister Narendra Modi had announced demonetisation of Rs. 500 and Rs. 1000 denomination notes from the country in the year 2016. This led to an increase in online cash transaction in the country by 10 folds.