Transaction in cashless economy: Issues and challenges

On November 8, 2016 India has seen a few historic announcements from the Prime Minister office in relation to cancelling the high denomination of Rs. 500 and Rs 1000 notes with an objective to root out black money, track payment to terrorist organization and other anti-national activities, curb tax evasion, corruption and encourage cashless transactions. Prime Minister Mr. Narendra Modi lunched the programme “Digital India” with a vision to transform India into a digitally empowered nation and creating a cashless, paperless economy.