Digital Transactions and Shifting Consumer Trends in India after Demonetization: An In-Depth Study

Author(s)	Dr. Tarannum Bano
Country	India
Abstract	The 2016 demonetization initiative by the Indian government acted as a critical turning point in transforming the nation’s economy towards digitalisation. This paper explores the profound shift from cash-based transactions to digital payment systems, focusing on changes in consumer behaviour, the adoption of new technologies, and their socio-economic impacts. It evaluates the evolution of digital platforms such as UPI, mobile wallets, and digital coupons, while also analysing the demographics driving this change and the challenges that persist, including digital literacy and cybersecurity. The study presents recent data and insights, offering a robust foundation for understanding India's digital financial ecosystem and its implications for future policy-making and innovation.
Keywords	Digitalisation, demonetization, cashless economy, Unified Payments Interface (UPI), Digital payment, cybersecurity, transaction, QR
Published In	Volume 6, Issue 5, September-October 2024
Published On	2024-10-10
DOI	https://doi.org/10.36948/ijfmr.2024.v06i05.46189
Short DOI	https://doi.org/

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International Journal For Multidisciplinary Research