India lags peers in its bid towards a cashless economy4 min read 10 Oct 2016, 08:20 AM IST
The use of mobile-based prepaid instruments or e-money products could be one of the ways for India to transition towards a cashless economy
The past couple of years have seen a number of initiatives to facilitate cashless transactions in the Indian economy, including the launch of the Unified Payment Interface (UPI) earlier this year. Such moves may raise the volume of cashless transactions in India in the years to come but the latest available internationally comparable data shows why moving towards a cashless economy remains a Herculean challenge for the country.
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