The 1st Day of Training and Educating India for a Cashless Future coincided with the National Disability Day. Under the guidance of Meenakshi Lekhi, a BJP MLA from New Delhi, the event too form. Lekhi spoke of her governments intentions to hasten to arrival of a Digitized India, indicating at the future of India, resplendent with an abundance of opportunities. Linking the growth in tax base with the decline in corruption, Lekhi enlightened the public on the nature of cashless economy and the impacts it would have on the Indian socio-economic scene. Shantanu Gupta, the Director of Yuva Foundation, indicated his and his organizations full support to the PMs plans about developing cashless solution to meet several problems India faces, from money laundering to corruption. Janmit Singh of MobiKwik, too, praised the governments initiatives, saying that his platform will smoothen the shift to the cashless economy, with doorstep-help being provided.
A cashless system, relatively a new concept in India, is quite common in other nations. Countries like Switzerland and USA are already, partly cashless, with most of its payments and transfers taking place through online platforms and digital banking. Unified Payment Interface or UPI is an App begun by the National Payment Corporation of India to encourage similar behaviour in India.
Digitalized behaviour would provide a solution for numerous concerns that exist in the Indian banking and finance scenario. The question that remain, though, is, whether a smooth shift from a primarily cash-based system to a cashless one is possible.
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