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International Journal of Trend in International Journal of Trend in Scientific Research and Development (IJTSRD)Research and Development (IJTSRD)
International Open Access JournalInternational Open Access Journal | www.ijtsrd.comwww.ijtsrd.com

ISSN No: 2456 ISSN No: 2456 - 6470 | Conference Issue – ICDEBIICDEBI-2018

INTERNATIONAL CONINTERNATIONAL CONFERENCE ON DIGITAL ECONOMY AND FERENCE ON DIGITAL ECONOMY AND

ITS IMPACT ON BUSINESS AND TS IMPACT ON BUSINESS AND INDUSTRYINDUSTRY

Organised By: V. P. Institute of Management Studies & Research, SangliOrganised By: V. P. Institute of Management Studies & Research, SangliOrganised By: V. P. Institute of Management Studies & Research, Sangli

Importance of Banks in Cashless TrImportance of Banks in Cashless Transactions underansactions under

Digitalization Digitalization System

Mr. S S Halemani
Assistance Professor in commerceAssistance Professor in commerce, Government First Grade College Hunnur,Hunnur,
Jamkhandi,Jamkhandi, Bagalakot, Karnataka, India

ABSTRACT
Banking sector plays an important role in economic Banking sector plays an important role in economic that these can be manageable by thethat these can be manageable by the legal cell the
development of India, huge changes in digitalization development of India, huge changes in digitalization country.
system and new techniques in technology have system and new techniques in technology have
changed the entire banking system. Basically Indians changed the entire banking system. Basically Indians A. Introduction
are slow in nature to adjust the modern techniques are slow in nature to adjust the modern techniques Modern banking system plays an important role in Modern banking system plays an important role in
from the traditional methods. Union government of m the traditional methods. Union government of boosting the Indian Economy in the world. After the boosting the Indian Economy in the world. After the
India forced Indian citizens to switch to the cashless India forced Indian citizens to switch to the cashless demonetization there is real struggle against Black demonetization there is real struggle against Black
transaction transaction by by taking taking bold bold decisions decisions of of Money, Corruption, Crimes and terrerisium. In such a Money, Corruption, Crimes and terrerisium. In such a
demonetization. After note ban decision people of the demonetization. After note ban decision people of the situation, Indian Banks are playing a role model in the Indian Banks are playing a role model in the
nation depressed the system of note ban, but due to nation depressed the system of note ban, but due to field of digitalization to adopt cashless transaction to field of digitalization to adopt cashless transaction to
the digitalization system faster changes has taken talization system faster changes has taken all types of customers and facing the problems of all types of customers and facing the problems of
place in the distribution and circulation of rupees place in the distribution and circulation of rupees security and cyber crimes. Banks are started to security and cyber crimes. Banks are started to
notes. Effect of digitalization, net banking, mobile notes. Effect of digitalization, net banking, mobile provide services and products through electronic provide services and products through electronic
banking, debit card, credit card, e-services, and eservices, and e- devices with the help of Internet. The role of RBI is with the help of Internet. The role of RBI is
payments number of changes has been taken in banks. payments number of changes has been taken in banks. amazing to make plans and policies in the right time amazing to make plans and policies in the right time
Sweden is the first nation to adopt cashless transaction en is the first nation to adopt cashless transaction to help all banks to collect banned currency notes and to help all banks to collect banned currency notes and
in the world. 10-15% of Indian population and up to 15% of Indian population and up to issue new Notes. It is time to give grate credit to all issue new Notes. It is time to give grate credit to all
40% of Brezile and Chaina’s population has adopted 40% of Brezile and Chaina’s population has adopted Banks’ employees and Management, those who arBanks’ employees and Management, those who are
cashless transaction. But recently in India more than cashless transaction. But recently in India more than dedicated their time and energy at the time of dedicated their time and energy at the time of
30% of Indian citizens are using cashless tran30% of Indian citizens are using cashless transaction. demonetization decision by the government. Today demonetization decision by the government. Today
A common man can transact his banking business by A common man can transact his banking business by cashless transaction shows the remarkable changes cashless transaction shows the remarkable changes
using electronic apps easily. Even in rural area’s using electronic apps easily. Even in rural area’s have been taken place in the minds of customers. have been taken place in the minds of customers.
banks are also started to adopted digital system to banks are also started to adopted digital system to Recently new apps like BHIM, PhonePe, Google Pay Recently new apps like BHIM, PhonePe, Google Pay
provide faster service to their customer. By using provide faster service to their customer. By using etc, are providing best service to customers.roviding best service to customers.
digitalization services profits can be easidigitalization services profits can be easily access
through good services. There are number of problems through good services. There are number of problems B. Review Of Literature
may disturbed after by using the system but these can may disturbed after by using the system but these can 1. Manpreet Kaur (2017) Explained in his paper the Manpreet Kaur (2017) Explained in his paper the
be manageable if we aware about the threats of be manageable if we aware about the threats of e
effect of demonetization on Indian Economy and ffect of demonetization on Indian Economy and
how to people should adjust the cashless payment ow to people should adjust the cashless payment
technology. Today’s cashless transaction shows the technology. Today’s cashless transaction shows the h
s
remarkable changes have been took place inremarkable changes have been took place in the mind system. He said the cashless system has provides ystem. He said the cashless system has provides
of costumers. In present scenario, Indian economic of costumers. In present scenario, Indian economic fringe benefits our society like time management. e benefits our society like time management.
sector have been identified faster progress in the sector have been identified faster progress in the L
Low cost of transaction and paper less business.ow cost of transaction and paper less business.
world even in suffering serious diseases like black world even in suffering serious diseases like black 2. Lokesh (2017) He explained in his paper about Lokesh (2017) He explained in his paper about
d
money, terrorism, illegal propriety etc, and also hope money, terrorism, illegal propriety etc, and also hope demonetization and cashless transaction will short emonetization and cashless transaction will short

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