Cashless India is the government’s efforts to promote the use of digital payments in the country.
Various apps like BHIM (Bharat Interface for Money) and the Unified Payments Interface (UPI) system facilitate cashless transactions.
Recently the country has seen a growth in digital payments .
The Indian government has also introduced a number of programmes, including the “Digital India” campaign, the “Lucky Grahak Yojana” programme for consumers, and the “Digi-Dhan Vyapar Yojana” programme for businesses.
In India, the use of mobile wallets and banking has also increased significantly, with top providers like Paytm, Google Pay, and PhonePe.
The increasing use of cellphones and internet connection in India has also aided the transition to a cashless economy.
To lessen reliance on international card payment networks, the government has also been encouraging the usage of RuPay card, a domestic card payment network.
The government’s goal for a cashless society is expected to provide a number of advantages, including improved tax compliance, greater financial inclusion, and a drop in corruption.
The Government of India’s flagship programme, Digital India, aims to make India into a knowledge economy and society that is enabled by technology.
One of Digital India’s stated goals is to be “Faceless, Paperless, and Cashless.”