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International Journal of Trend in Scientific Research and Development (IInternational Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456JTSRD) ISSN: 2456-6470 | IF: 4.101

term negative effect on economy but long term term negative effect on economy but long term The above table shows that India has same percentage The above table shows that India has same percentage
benefits to all in the future. Banks are busy to the future. Banks are busy to of use of currency note since form 2011 to 2015, but of use of currency note since form 2011 to 2015, but
proved quicker service to the society.proved quicker service to the society. Sweden has lowest currency notes always since from has lowest currency notes always since from
3. Nitin and Sharmila (2016) explained the system of Nitin and Sharmila (2016) explained the system of 2011-2015. Compare with all contrary in the above 2015. Compare with all contrary in the above
cashless business after the demonetization and cashless business after the demonetization and table India has highest currency notes utable India has highest currency notes using country.
started to circulate the cash systematically. They started to circulate the cash systematically. They
desired that all short term problems cadesired that all short term problems can be solved As per the statistic reports relating to use of cards As per the statistic reports relating to use of cards
holders for each person during the year 2015olders for each person during the year 2015-16
by using digitalization system in the banks.by using digitalization system in the banks. h
4. Vijay and Shiva (2016) It is the real test of all Vijay and Shiva (2016) It is the real test of all shows the below:
banks to adjust the system of demonetization and banks to adjust the system of demonetization and
provide quick service to the society by facing provide quick service to the society by facing India - 50% of total population 50% of total population
operational and security problems. Sweedan - 2.5 each person 2.5 each person
South korea - 5.5 each person5.5 each person
C. Objective Of The Study
1. To know the services available in the banks To know the services available in the banks Brazil - 4.1 each person4.1 each person
cheena -4.00 each person4.00 each person
relating to cashless transactions.

2. To analyses the favorable and unfavorable To analyses the favorable and unfavorable
From the above information it is clearly show that all rom the above information it is clearly show that all
F
outcomes of cashless transactions.
f four countries except India is using minimumour countries except India is using minimum
D. Methodology Of The Study electronic cards.
The present paper is prepared by using secondary data The present paper is prepared by using secondary data
available in the news papers, Magazines, Journals, news papers, Magazines, Journals, Objectives of cashless transaction:Objectives of cashless transaction:
Books and government web site. The study tries to Books and government web site. The study tries to 1. To avoid use of papers notes maximum to reduce To avoid use of papers notes maximum to reduce
bring out the importance banks in cashless transaction bring out the importance banks in cashless transaction the cost of printing of notes.he cost of printing of notes.
t
under digitalization system. 2. (20 To reduce the laborious work to pay and (20 To reduce the laborious work to pay and
collect the money in the banks.ollect the money in the banks.
c
E. Importance Of Banks In Cashless Transaction Importance Of Banks In Cashless Transaction
Under Digitalization System 3. To create faith on money transaction by uTo create faith on money transaction by using
Sweedon is the first nation to adopt cashless first nation to adopt cashless electronic devices.
4. To provide best service to all kind of customer To provide best service to all kind of customer
transaction in the world. In India 10transaction in the world. In India 10-15% of
without disturbing their will power.ithout disturbing their will power.
population and up to 40% of Brezile and Chaina’s population and up to 40% of Brezile and Chaina’s w
population has adopted cashless transaction, and population has adopted cashless transaction, and 5. To strengthen our economy by making huge To strengthen our economy by making huge
business through digitalization media and boost usiness through digitalization media and boost
recently in India, more than 30% of the population recently in India, more than 30% of the population b
using cashless transaction. There was revolution in re was revolution in the GDP.
6. To maintain solvency position not only in nationTo maintain solvency position not only in national
paper transaction converted in to digital transaction by paper transaction converted in to digital transaction by
l
using credit card, debit cards, EFT or online business using credit card, debit cards, EFT or online business level but also international level.evel but also international level.
to maintain purity in the financial matter. All kinds of to maintain purity in the financial matter. All kinds of 7. To provide proper knowledge to common man of To provide proper knowledge to common man of
t
business like buying and selling of things, Vegetables, business like buying and selling of things, Vegetables, the nation to addict the new system to make more he nation to addict the new system to make more
Business centre, taxi centre, Petroleum , Petroleum centre and business.
8. To remove the black money in the gross level.To remove the black money in the gross level.
reduce the huge cost on printing notes. As per the reduce the huge cost on printing notes. As per the
information available in the Feb 2017 Yojana information available in the Feb 2017 Yojana 9. To know all feature of banks all business by using To know all feature of banks all business by using
Magazine relating to RBI information the following Magazine relating to RBI information the following digital device in any place, at any time. n any place, at any time.
table shows the cash transaction existed during the table shows the cash transaction existed during the
I
year 2015-16 in the world. In the present scenario all categories of Banks are n the present scenario all categories of Banks are
adopted digitalization technology by reducing dopted digitalization technology by reducing
a

l laborious and cost of paper to print the Notes and use aborious and cost of paper to print the Notes and use
Chart of cash circulation (% in GDP)Chart of cash circulation (% in GDP)
t through paper work. The following are the facilities hrough paper work. The following are the facilities
Nation 2011 2012 2013 20142014 2015
available in all banks to provide cashless transaction in all banks to provide cashless transaction
India 12.1 11.9 11.5 11.611.6 12.3
t to the society .Money can transfer and deposited one o the society .Money can transfer and deposited one
Brazil 3.8 4.00 3.9 4.004.00 3.8
a
account to another account easily.ccount to another account easily.
South 3.8 4.00 4.2 5.005.00 5.8
Korea a. Internet Banking
b. On Line Banking
Sweden 2.8 2.5 1.7 2.002.00 1.7
c. Automatic Teller MachineAutomatic Teller Machine
U.K 3.8 3.5 3.5 3.83.8 3.6
d. Telephone Banking
America 6.2 6.9 6.9 6.66.6 7.4
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