Cashless Economy: A Step Towards the Future (With Special Reference to India)

Author(s)	Ms. Vedika Thukral
Country	United Arab Emirates
Abstract	A cashless economy is an economy in which most transactions happen using digital methods instead of physical money. India has seen rapid growth in digital payments because of the rise of UPI, mobile banking, QR codes and better internet access, which has made everyday payments faster and more transparent. This study uses secondary data from government publications, payment statistics and recent articles to look at India’s progress toward a cashless economy along with a brief global comparison. It discusses the benefits of digital payments, the challenges that continue—especially in rural areas—and how digital tools can help improve financial inclusion. The aim of this research is to understand India’s current position and identify steps that could strengthen its digital payment system.
Keywords	Cashless Economy, Digital Payments, UPI, India, Financial Inclusion, Mobile Banking, Digital Transactions
Field	Sociology > Economics
Published In	Volume 7, Issue 6, November-December 2025
Published On	2025-12-07
DOI	https://doi.org/10.36948/ijfmr.2025.v07i06.62689

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