Assistant Professor, Department of Management Studies, KG College of Arts and Science
Online published on 16 March, 2019.
The advancement of IT has enabled innovation of electronic payment where goods and services are purchased without the use of physical cash. Cashless payment eliminates the use of money for exchange of goods and services by allowing E-transfer. Increase in the use of credit/debit cards, net banking and other online payment mechanisms isone of the positive effect of demonetization, as this would not only lower transaction costs but some of these could help earn some income foe economy. The impact on share market is also high due to insufficient money flow.
