📄 Abstract
The most common sight till few days back was long queue of citizens outside the banks for withdrawing cash. Indiaâ??s demonetization scheme was a shocking announcement made in a jiffy. In a country where nearly 90% of transactions are carried out in cash, a bold move to transform the nation into a "corruption freeâ? economy created cashless situation and chaos. The most badly affected the society which was lower classes who make their daily earnings in cash, barely enough to make both ends meet. Unexpectedly hundreds of millions of people were rendered cashless without the means to engage economically and purchase even basic essentials. But every cloud has a silver lining and demonetization also did something remarkable. This cash crunch in the economy that encouraged Indian consumers to carry out transactions using cards or digital transfers. E-payments and mobile wallets got more popular and are slowly changing the way Indians transact. Before the demonetization drive, India is essentially a cash-based economy and 90% of vendors didnâ??t have card readers or the means of accepting card payments, most of the workers were paid in cash and about half of the population didnâ??t have bank accounts. The lack of cash in the economy has been a boon for Indiaâ??s E-Payment providers. Even the vegetable vendors and small shops have opened up Paytm accounts.
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📚 How to Cite:
Ms.T.Dineshwari , Mr.R.Muthumuniyasamy , ONLINE SHOPPERS ATTITUDE TOWARDS CASHLESS ECONOMY IN THOOTHUKUDI DISTRICT , Volume 7 , Issue 11, november 2021, EPRA International Journal of Multidisciplinary Research (IJMR) ,