RURAL RESIDENTS YET TO GO CASHLESS

Abstract

     A cashless economy refers to an economic system in which financial transactions are conducted entirely through digital or electronic means, and physical cash is either eliminated or used to a minimal extent. This transition involves the widespread adoption of various electronic payment methods and technologies, such as credit/debit cards, mobile wallets, online banking, and other digital payment systems. Despite the potential benefits, there are also challenges and considerations associated with transitioning to a cashless economy. These include concerns about digital security, the need for robust digital infrastructure, addressing the needs of populations with limited access to technology, and ensuring that the transition is inclusive and doesn't leave certain groups behind. Countries around the world are at different stages of adopting cashless practices, with some making significant progress, while others continue to rely heavily on physical currency. The pace and success of this transition depend on a variety of factors, including technological readiness, regulatory frameworks, public acceptance, and government policies. The objective of this study was to investigate the progression and patterns of electronic transactions in Uttarakhand's rural regions. Additionally, a researcher sought to identify the obstacles that impede the growth of digital transactions in Uttarakhand's rural regions.

Keywords: Cashless Transactions, Rural Areas, Barriers.