*Professor and Director,
**Research Scholar,
***Assistant Professor,
A great demonetisation effort that aimed to clean out the black market's cash supply took place on 8 November, 2016. This event was termed as great surgical strike against parallel economy, which had been hampering the growth of India from decades. 86% of India's currency was invalidated in a single night. The decision came as a major blow to social, political, and economic spheres of the world‘s second largest emerging market. All 500 and 1, 000 rupee notes were instantaneously annulled, and a 50 day period was granted during which the population could exchange their cancelled cash for newly designed currency notes and to deposit them into bank accounts. New currency of 500 and 2000 was brought in for circulation by RBI (Reserve Bank of India). Indian economy had witnessed such an event in 1946 and 1978. Post Mr. Modi‘s announcement, there was a shortage of liquidity in the economy, which led to an increase in the demand for cashless transactions. This movement provided an opportunity to the market players offering Digital Wallets to enhance their customer base by targeting high, middle and lower sections of economy, who have an access to smart phones and internet facility. The main aim of this paper is to highlight the usage of e-Wallets during pre and post demonetization phase.
