Digitalization of Economy and Electronic Payment System – Overcoming the Challenges for India

Authors

  • Pahwa MS Dept. of Business Administration, School of Business and Commerce, Manipal University Jaipur, Jaipur, India
  • Dadhich M Dept. of Management, School of Management, Sir Padampat Singhania University, Udaipur, India
  • Chhabra I Dept. of Management, School of Management, Sir Padampat Singhania University, Udaipur, India

DOI:

https://doi.org/10.26438/ijcse/v6si9.5559

Keywords:

Cashless payment, digitalization of economy and electronic payment

Abstract

One of the foremost important and flagship objective of the Government of India is Digital India. It can be seen that Government has been conducting various experiments for making Digital India, some were successful while other failed. At present it would be difficult to declare the success, however, an attempt of making India a “Cashless, Paperless and Faceless” economy, at least made the country move some step toward the goal. The present paper endeavors to throw some light on the concept of “India as a Cashless Economy” and efforts to understand the challenges of this transition phase. The research design is exploratory. An attempt has been made to relook the system of cashless payment with an objective to review how the challenges may be overcome. The data used is secondary from RBI website as well as from various online sources

References

[1] Dave, R. (2016, November 23). 3 Types of Cashless Transaction Options via Prepaid Payment Instruments for you. Economic Times - ET Prime, p. Editorial. Retrieved September 19, 2018, from https://economictimes.indiatimes.com/wealth/spend/a-look-at-various-cashless-options/articleshow/55508641.cms

[2] Maji, P. (2017, November 8th). Demonetisation Keeps Digital Payments up; Cashless Transactions Grow 13.5% in September 2017. Business Today. Retrieved September 20, 2018, from https://www.businesstoday.in/money/banking/demonetisation-digital-payments-cashless-transactions-ewallets-credit-card-debit-card-paytm/story/263466.html

[3] RBI. (2009). Payment and Settlement Systems. Retrieved September 19, 2018, from Reserve Bank of India: https://www.rbi.org.in/scripts/PaymentSystems_UM.aspx

[4] RBI. (2015). Master Circulars. Retrieved from Reserve Bank of India: https://rbi.org.in/SCRIPTS/BS_ViewMasCirculardetails.aspx?id=9869

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Published

2025-11-17
CITATION
DOI: 10.26438/ijcse/v6si9.5559
Published: 2025-11-17

How to Cite

[1]
M. Pahwa, M. Dadhich, and I. Chhabra, “Digitalization of Economy and Electronic Payment System – Overcoming the Challenges for India”, Int. J. Comp. Sci. Eng., vol. 6, no. 9, pp. 55–59, Nov. 2025.

Issue

Vol. 6 No. 9 (2018): IJCSE Special Issue November Edition

Section

Research Article

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