Recently,PM Narendara Modi Made The Biggest Decision of Banning The Currency Notes Of 500 And 1000 Denomination Which Is Proposed To Strength Economy Of India.
Now, Again A Decision is Made By Government To Make Country A Cashless Economy.
While people were attacking the ATMs closest to them in order to stock up on Rs 100 notes,Fintech Startups were celebrating the decision. After all, the prime minister’s support validates their vision of a cashless economy.
What Actually A CashLess Economy Is?
A cashless economy is one in which all the transactions are done using cards or digital means. The circulation of physical currency is minimal. India uses too much cash for transactions. … The number of currency notes in circulation is also far higher than in other large economies.