Study on the impact of Cashless Initiative of government on farming activities & Rural development: - A case study of Bhagalpur city of Bihar

Ashish Kumar Singh

Abstract


Merely 26% of India has internet access, and there are only 200 million users of digital payment
services. A report by Google India and Boston Consulting Group showed that last year around
75 percent of transactions in India were cash-based while in developed countries like the US,
Japan, France, Germany etc it was around 20-25 percent. In this paper, a complete analysation
has been done on farmers community, during the period of Demonitization.Being Cashless is
a concrete step, but a regular campaigns and demonstration are required to enhance financial
literacy among farmers and labourers.Co-operatives Such as IFFCO,KRIBCHO has done well in
enhancing financial literacy among farmers. Even the RBI has also recently unveiled unveiled a
document Payments and Settlement Systems in India: Vision 2018" setting out a
plan to encourage electronic payments and to enable India to move towards a cashless society or
economy in the medium and long term. Another major benefit is erosion of corruption. From a
credible source, Only 24 lakh people of India declare their income more than 10 lakh /per year.
Being Cashless Motto of Government would bring all black cashes and black Money together,
under the eye of Government


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