Preface
Cashless Economy is the Global phenomenon and embracing entire world, including India. You
can avoid Internationalization but not the Globalization. The Demonetization is just a part of this
movement. Every Indian is curious to know about this movement. They are desperately trying to
grasp the subject through Media. But the noisy politically dominated discussions add to confusion.
Moreover, the WhatsApp rumors are creating havoc. No doubt that, hundreds of articles are
available on web but mostly they are based on sound knowledge of economics, taxation and
monetary and fiscal policies, which common man doesn’t understand. Thus, I feel that, there
should be a book on Cashless Economy, which everybody could understand with full complexities
without any prior knowledge of economics or allied subjects. In addition to this, the book should
serve as a vital reference point for Economist, Policy Makers across the world. To address to such
a heterogeneous reader section is a herculean task. I have accepted the challenge and given justice
to the subject in this book.
Since 1984, I am involved in diverse research topics like Information Technology, Cyber Security,
Digital Forensics, International Economics, Higher Education, E-Learning and so on. The Cashless
Economy is closely related to Information Technology, Cyber Security as well as Economics.
Thus, in this book, I could manage the breadth and depth of knowledge for diverse readers.
In Chapter 1, I have introduced few simple concepts, disadvantages of Cash Based Economy,
Advantages of Cashless Economy and highlighted worldwide trends of cashless economy. In
Chapter 2, I have discussed the notorious features of Cashless economy without using complex
terminology of economics. This chapter is very useful for all the readers, who love their hardearned
money and freedom. In Chapter 3, I have provided in-depth analysis and statistical
information regarding “Digital Readiness” and other relevant issues, which are very important for
policy makers and economist. They are related to India. But the Readers all over the world will
get an idea for extending the concept for their respective nation. With this they can easily predict
the future of Cashless economy for any nation. In Chapter 4, I have briefly discussed how the
cashless economy affect the variety of business and services. The Chapter 5 is devoted for
highlighting the systematic planning of Government of India. The technical issues and
gamechanger technologies have been covered in Chapter 6. Based on information provided in
previous chapters, the challenges for Cashless Economy in India have been discussed in Chapter
7. The Cashless Economy is a global phenomenon and thus information on various interesting
techniques adopted by different nations for promoting cashless economy are compiled in Chapter
8. The concepts related to Economics, especially banking, that to in a very simple way, have been
covered in Chapter 9. While referring thousands of documents for compiling this book, I came
across few interesting facts. I have presented these facts in Chapter 10. Finally, I conclude the
book with brief strategic plan in Chapter 11. This 400 pages book is full of graphics, diagram and
charts. They are self-explanatory. I hope you will enjoy this book.
I have compiled this information in the form of book in the national interest. The credit of each
point mentioned here goes to respective authors mentioned in the references. I am amazed to see
their enormous contribution in the field of Economics. I could refer only few articles written by
them and could include very few points in this book. For detailed information regarding any issue,
please refer their original articles and if needed search their other articles on the Internet. This is
Eradicating Black Economy Globally? Prefer Less-Cash than Horrifying Cashless Economy
vi
not just 400 pages compiled work but pointers to articles of thousands of pages, contributed by
authors, who have spent their lives for the cause of education of mankind. I am thankful to them.
I had introduced hundreds of problems, suggestions, remedies and best practices through my series
of 11 books on World Class Universities, Innovation and IBC, with more than 3800 pages and
3900 references. I have referred thousands of documents from around 70 countries and gone
through beyond 12 Lakh pages. With GOD’s grace, in my previous books, I could reach to more
than 20 Lakh academicians and industrial personals across the world and could ignite the minds
of young faculty, researchers and students across the world. In this pretty long journey, I was not
alone. Thousands of persons were constantly encouraging me to compete this gigantic task. I am
thankful to them. The valuable comments of high profile readers are available at my website.
I have taken maximum care to give the authentic information but in case at some place, if you find
some discrepancies then forgive me and help me to correct it in the next edition of this book. I am
sure; the readers will like and welcome my sincere efforts to enhance standards of various system
of India and rest of the world. I hope this book will act as catalyst and will help in improving the
overall Indian Economy, which can compete with the rest of the world.
Jai Hind.
Dr. Rajiv Dharaskar
www.dharaskar.com