Cashless Economy in India - Public Attitude and Perception in Chennai

Abstract

A cashless transaction in India is an endeavor to travel towards a cashless economy by reducing the use of physical exchange of currencies for the transactions. In India, the most important element of the entire economic transactions by volume is being done mostly through cash. After demonetization implementations, a large amount of the people in India started using electronic mode of payments for their financial transactions as adopted the idea and practice of “Digital India”, which is a scheme initiative by the government of India to uphold the use of electronic payment channels as a replacement for cash. This research article is an attempt made to study the targeted set of audiences’ level of attitude and perception towards cashless transactions and an effort is also made to spot the challenges faced by them during their transactions. This study is basically an analytical study based on the primary data at first place. Data is collected by using both primary and secondary data collection methods to make the research to be effective and reliable. Questionnaire is used as data collection method, as it’s a quantitative research method. This study will result in the findings of the level of attitude and perception of the respondents towards the cashless economy..