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Impact of Demonetisation on E-Payment System

Author(s):

Arushi Dilavari , Gitarattan International Business School

Keywords:

Demonetisation, E-Payment

Abstract

Demonetization means an act to withdraw or to deprive of, this is what happened in India on 8 November 2016, which is considered as a "BLACK DAY" because India deprived of using their old currency (500 and 1000) notes and new was introduced in the battle of corruption. This was also called as "Surgical Strike" introduced by PM Modi and has impacted our economy GDP and E- payment Systems. E-payments refer to as electronic payment that is being used as the medium to exchange and transfer funds in the commencement of various activities. E-payment system includes different modes of payment such as plastic cash, Net banking, mobile banking, E-wallet. This paper will put a light on how demonetization has a major impact on E-payments systems.

Other Details

Paper ID: IJSRDV6I30356
Published in: Volume : 6, Issue : 3
Publication Date: 01/06/2018
Page(s): 630-631

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