Cash vs. Digital (With Reference to India)

1Dr. Bharti Harnal


There has been a long journey of receipt and payment transactions. Beginning from Barter system by primitive/traditional/ modern man from coin to currency notes (Cash) and now to Digital transactions and may be further with some other way. Coins and paper currency has a long history and there has been ups and downs in currency also. With advance in technology, now payments have been started making through technology. Cash is used in its physical form while digital transactions are done on internet through on line. There is no doubt that digital payments are moving fast, as it has made transactions easy and convenient to handle, technology advancement, high levels of security, less expensive, monetary benefits in the form of discount on payments/ cash back facility. But at the same time, digital is not free from many shortcomings. There will always be some people who will find themselves in difficulties with transition. Digital transactions do not suit the under privileged and marginalized groups such as people below poverty line and people staying in rural areas and the elder people. Inspite of increase in digital transactions, demand for cash is also increasing. In this paper, an attempt has been made on cash and digital transactions. How the demonetization has affected India’s monetary transactions. Does cash hold an important position in India? Does cash still holds an important position and can technology replace it fully?.


Cash, Digital, India, Technology, Banking. Financial Institutions, RBI, Currency, Frauds, Online.

Paper Details
IssueIssue 5