Demonetization India S Cashless Economy
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Demonetization India S Cashless Economy
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Author : Prof. (Dr.) B. Uday Kumar & Mrs. K. Radhika
language : en
Publisher: Horizon Books ( A Division of Ignited Minds Edutech P Ltd)
Release Date :
Demonetization India S Cashless Economy written by Prof. (Dr.) B. Uday Kumar & Mrs. K. Radhika and has been published by Horizon Books ( A Division of Ignited Minds Edutech P Ltd) this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
In the developing economy like ours, the importance of Demonetization is to a great extent has been acknowledged by all specially when optimum utilization of resources is the crying need of the day. in the view of this, this topic is gaining importance and thus has been included in the curriculum of Telangana state. This book has primarily been written in the simple language and in a lucid style with a view to explain to the society. numerous examples have been incorporated in this book to illustrate the basic principles of the subject. A good number of practical problems with examples are mentioned in this book by common people.
Cashless Economy In India Present Scenario Potential Prospect And Challenges
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Author : ajit roy
language : en
Publisher: Createspace Independent Publishing Platform
Release Date : 2017-03-04
Cashless Economy In India Present Scenario Potential Prospect And Challenges written by ajit roy and has been published by Createspace Independent Publishing Platform this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-04 with categories.
To combat black money, corruption, counterfeit currency and terror financing, government took decision on November 8, 2016 to ban Rs 500 & 1000 notes followed by putting a cap on withdrawals from banks and ATMs, Prime Minister Narendra Modi floated the idea of a cashless society. A cultural-economic revolution in the making. But this surprise demonetization also pushed millions of new users onto the country's digital economic grid by virtual fiat. Cash might be more expensive for the government, because of tax evasion, corruption and the need to keep recirculation old, spoilt, currency, and enabling transfers, but digital is very expensive for citizens. Most Indians lack the means to use cashless alternatives, irrespective of their desire to do so. India hopes to create a cleaner, more transparent economy via digitalization that will lead to an improved climate for foreign investment, boost economic growth. India is on the verge of massive digital revolution. Towards Digital Economy government initiated launch of 'two new schemes to promote BHIM app, including cash back scheme for merchants; Aadhaar Pay to be launched for people who don't have mobile phones. This will not only help millions of Indians overcome the hassles of dealing in cash to emerge as a truly cashless economy. Demonetization initiative and subsequent drive towards developing a cashless economy and subsequent likely impact as well as in depth analysis, insights and key highlights from experts are all presented in the compiled book entitled 'Cashless Economy in India-Present Scenario, Potential, Prospect and Challenges Ahead' For convenience of readers the book is divided into the following chapters. Chapter-1: Basics of Cashless Economy; Chapter 2: Mobile Wallets and Apps in India; Chapter 3: Government Initiative in Digital Movement; Chapter 4: Cashless Economy-Challenges and Prospects Chapter 5: Pros and Cons of Cashless Economy and Chapter 6: Next Generation Digital Payments Models in India: Present Scenario.
India S Readiness For Digital Economy
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Author : Ajit Kumar Roy
language : en
Publisher: Createspace Independent Publishing Platform
Release Date : 2017-03-28
India S Readiness For Digital Economy written by Ajit Kumar Roy and has been published by Createspace Independent Publishing Platform this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-28 with categories.
The digital economy is rapidly developing worldwide as the largest driver of innovation, competition, and growth. Even though many people have been excluded, tremendous opportunities are available for the digital economy to support financial inclusion for sustainable economic development. India could see a boost of $700 billion, an 11.8 per cent increase by 2025. This additional GDP could create up to 21 million jobs. McKinsey has estimated that Indians lose more than $2 billion a year in forgone income simply because of the time it takes travelling to and from a bank India aims to create a cleaner, more transparent economy via digitalization that will lead to an improved climate for foreign investment, boost economic growth, and ultimately propel the country to the next chapter of its emerging markets story. The long-term impact will be a paradigm shift to the digital economy. The biggest hindrance to a digital economy is there being a huge information asymmetry between financial services providers and the consumers. Present Government had launched a major drive for financial inclusion in terms of opening Jan Dhan accounts, giving a statutory basis for Aadhaar, implementation of Directs Benefits Transfer, introduction of RuPay Cards and Voluntary Disclosure Scheme for unaccounted money. Demonetization of 500 and 1000 Rs. notes on 8th November, 2016 was another important milestone in this endeavour. Following demonetization, there has been a spurt in the digital payments across the country and both the volume and amount of money transacted through digital methods saw seen manifold increase since 9th November, 2016. P.M. Modi and his government's ministers have been educating people on how to move towards a cashless society. Economic digitization also increases the government's ability to enhance its taxation systems. India's informal economy is responsible for roughly 45% of GDP and 80% of employment, which means that billions of INR are being exchanged each year without the knowledge tax collectors. Currently, only 1% of India's population pays income tax. Demonetization and subsequent initiatives led to greater utilization of card but we don't have enough people with debit or credit cards, and not enough PoS machines to use them. This is apart from not enough people with mobile connections in India who have an Internet connection, a reliable Internet connection, with handsets that support Indian payment apps, and are active online daily? India is a country where 94% of the population is estimated to be in the unorganized sector which draws its payments in cash and only 10% of the population has ever used non-cash means of payments. The BHIM app has been launched. It will unleash the power of mobile phones for digital payments and financial inclusion. But how ready are we to go cashless? How affordable is it for people to go cashless? Is this country ready for complete virtual banking and removing physical cash out of the system? All these points are the main purpose of the book entitled 'India's Readiness for Digital Economy' with comprehensive statistics of present scenario of infrastructure facilities presented in the following chapters. Ch-1: Vision of Digital India Ch-2: Growth of Telecommunication Usage in India Ch-3: IT & ITe'S Industry in India Ch-4: Initiative for Financial Inclusion through Banking Sectors Ch-5: Post Demonetization Scenario Ch-6: India's Initiative towards Digital Economy The book is designed in the simplest form to understand digital economy and assess related infrastructure scenario of India and to be accessible to the people interested in the area.
Demonetisation Decoded
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Author : Jayati Ghosh
language : en
Publisher: Taylor & Francis
Release Date : 2017-03-16
Demonetisation Decoded written by Jayati Ghosh and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-16 with Business & Economics categories.
On the night of 8 November 2016, at 8:15 pm, India’s Prime Minister, Narendra Modi, announced in a televised broadcast to the nation that with effect from midnight, currency notes of denominations Rs 500 and Rs 1,000 would no longer be legal tender. In one stroke, this involved the de-recognition of over 86 per cent of the value of Indian currency in circulation with only four hours’ notice. This important book provides a quick and concise explanation of the goals, implications, initial effects and the political economy of this major demonetisation move by the Government of India. It clarifies key concepts and offers astute economic analysis to guide the reader through the various claims, arguments and critiques that have been made; highlights the complexities of the processes that have been unleashed; and examines the likely outcomes in the long term as well as those that are immediately evident. Timely and lucid, this book will interest students and researchers in the fields of economics, finance, management, law, politics and governance as well as policy makers, legislators, civil society activists and the media.
Problems And Prospects Of Cashless India
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Author : Pankaj Kumar Mandal
language : en
Publisher: Educreation Publishing
Release Date :
Problems And Prospects Of Cashless India written by Pankaj Kumar Mandal and has been published by Educreation Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on with Self-Help categories.
The primary objective of this book is to highlight the problems and prospects of cashless India. It explores the factors that may impede India's transformation to a cashless economy and analyzes the country's potential for that transformation. In addition to that, the book captures the actual scenario of cashless payment in contemporary India. It will also provide the readers with a clear conception of cashless society and its payment methods. The book is meant for the common readers and hence technical jargons are avoided.
Real Impact Of Demonetization On Various Sectors Of Indian Economy And Society
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Author : Ajit Kumar Roy
language : en
Publisher: Createspace Independent Publishing Platform
Release Date : 2017-06-05
Real Impact Of Demonetization On Various Sectors Of Indian Economy And Society written by Ajit Kumar Roy and has been published by Createspace Independent Publishing Platform this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-06-05 with categories.
In November 2016 after the demonetisation decision was taken to curb black money and root out corruption, allegations were made that the move will harm the economy. But the financial figures of the last quarter give the answer. I. Post demonetisation, cash withdrawals have been declining rapidly from a peak of Rs 528 billion for the week ended 13th January to Rs 325 billion recently (week ended 24th March). II. Industrial output growth has risen to a 13-month high of 5.7% in November while retail inflation slowed to a 25-month low in December. III. India's foreign exchange reserves surged for the second consecutive week by $932.4 million to $360.775 billion in the week to January 20,2017 IV. The rupee hit a 16-month peak against the dollar to INR 65.41 per dollar V. The number of persons under the income tax net has increased by 91 lakh post note ban. VI. The CBDT has detected undisclosed income of over Rs 9,334 crores between November 9, 2016, and February 28, 2017. VII. Under Operation Clean Money (OCM), more than 60,000 persons, including 1,300 high-risk persons, have been identified. VIII. Income tax department will issue 700,000 letters seeking information about high-value transactions. IX. Indian economy grew by 7% in the fourth quarter of 2016 and 6.1% in 1st quarter of 2017. X. The real estate sector hit in the fourth quarter, but a strong contribution of the agricultural sector and manufacturing. XI. The purchasing managers' index (PMI) shows a large rebound. XII. Shell companies provided a strong support system for black money after demonetization are in the process of identification and tax net. XIII. The income tax (I-T) department has begun its second phase of "Operation Black Money". XIV. More than 30 government-to-business services have been brought online, with e-filing, single-windows. XV. Foreign direct investment (FDI) into India increased by 9 per cent to a record level of $43.48 billion in 2016-17 The book entitled 'Real Impact of Demonetization on Various Sectors of Indian Economy and Society' covers nine key topics that are essential to assess the impact of demonetizationand its short, medium and long time economic, social and political impact in India. Ch-1: Demonetisation and Remonetisation; Ch-2: Demonetization and Indian Budget 2017; Ch-3: GDP Projection's Ch-4: Impact on Tax Collation; Ch-5: Impact on Cashless Economy; Ch-6: Impact of Demonetisation on Agriculture; Ch-7: Impact on Economy; Ch-8: Political Impact and Ch-9: Impact on Society.
India S Demonetization Pros And Cons
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Author : Dr.V.V.L.N. Sastry
language : en
Publisher: Idea Publishing
Release Date : 2020-03-06
India S Demonetization Pros And Cons written by Dr.V.V.L.N. Sastry and has been published by Idea Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-03-06 with Business & Economics categories.
November 8, 2016 declaration by Indian Prime Minister, Narendra Modi that all 500-and 1000-rupee bank notes of the Mahatma Gandhi Series would ease being legal tender from midnight of 9th November 2016 was greeted with shock and dismay. India is, not the first country to demonetize its currency. Several countries have used the practice due to various reasons. The U.S., Ghana, Nigeria, European Union, Soviet Union, North Korea, and Zimbabwe are some of the countries that have demonetized their currencies. The reasons are almost similar to the reasons as to why India demonetized its currency. The Indian government claimed that the objectives of demonetization were to remove fake currency from circulation, tackle terrorism funding, left-wing extremism, remove black money, create a cashless economy, and to convert the informal economy into a formal economy. This was expected to help in expanding the tax-base and employment. However, demonetization had several disadvantages too. It reduced the level of cash in circulation. The cash-crunch was caused by the introduction of the Rs. 2,000 notes into circulation. This high value currency made it difficult to carryout financial transactions due to unavailability of other denominations to match the need for equivalent change. People could not make use of Rs. 2000 notes for to make small purchases. Demonetization also inconvenienced members of the public as the government only abolished certain currency from circulation and kept others. It necessitated people to spend a longtime queuing outside banks and cash machines to get new currency. People lost valuable time that they could have spent undertaking other economically productive activities. It also led to the slowdown of the economic growth while some people even engaged in fraud and corruption. Demonetization, for instance, also provided money changers an opportunity to convert black money to white at no cost. In reality, demonetization affected only a small proportion of the assets accumulated through illegal activities. Another disadvantage of demonetization is that it does not control the source of the illegal funds. This book provides background of demonetization details, pros and cons.
Understanding Demonetization In India
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Author : Shrawan Kumar Singh
language : en
Publisher: Business Expert Press
Release Date : 2019-04-04
Understanding Demonetization In India written by Shrawan Kumar Singh and has been published by Business Expert Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-04-04 with Business & Economics categories.
This book examines the very concept, history, critique, and impact on the overall economy and black money, the move toward less-cash economy and digitalization, government–RBI relations, along with an assessment of two years of demonetization. Demonetization has created a severe macroeconomic shock. The measure was humungous in scale and led to a sharp contraction in money supply for a short period. Although demonetization’s proponents have contended that it would cleanse the economy of black money and make transactions more formal and digital, its implementation certainly could have been better. The effects of demonetization on the Indian economy are debatable and will vary by sector. Its effectiveness will be talked about and studied by economists and policy makers for decades to come. Demonetization has made only a minor dent in the GDP. It has helped to bring more people into the tax net and has reduced the size of the informal economy. With the increased use of digital payments, economic transactions become recorded. This book examines the very concept, history, critique, and impact on the overall economy and black money, the move toward less-cash economy and digitalization, government–RBI relations, along with an assessment of two years of demonetization. It would be prudent for the government to focus more on proper institutional reforms to address the issues originating from demonetization.
Demonetisation And Cashless Economy
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Author : Yogendra Pratap Singh
language : en
Publisher:
Release Date : 2017
Demonetisation And Cashless Economy written by Yogendra Pratap Singh and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with Electronic funds transfers categories.
Global Challenges And Strategic Disruptors In Asian Businesses And Economies
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Author : Ordóñez de Pablos, Patricia
language : en
Publisher: IGI Global
Release Date : 2020-09-25
Global Challenges And Strategic Disruptors In Asian Businesses And Economies written by Ordóñez de Pablos, Patricia and has been published by IGI Global this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-09-25 with Business & Economics categories.
Strategic disruptors in companies and economies, including blockchain technology, big data, and artificial intelligence, can contribute to the creation of new business opportunities, jobs, and growth. Research is needed on the impacts of these disruptors in Asia, as well as analyses on new business ecosystems and policy implications. Global Challenges and Strategic Disruptors in Asian Businesses and Economies presents a rich collection of chapters that explore and discuss the state of the art, emerging topics, challenges, and success factors in business, big data, innovation, and technology in Asia. The book explores how the internet of things, big data, and artificial intelligence can provide solutions for global challenges and companies. Including topics on digital economy, strategic management, and information technologies, this book is ideal for managing directors, general managers, corporate heads of firms, politicians, executives, entrepreneurs, academicians, decision makers, policymakers, researchers, and students looking to enhance their understanding and collaboration in business, disruptive innovation, and technology in Asia.