Transforming Indian Economy through Digitalised Financial Inclusions in Cashless Economy

Abstract

Technological development plays a significant role in our daily life. Technological advancement in smartphones helps as a source of communication device, socialized tool, and even as a payment tool. Mobile wallet ensures you with safe storage of bank account numbers and multiple credit card details which is stored in a secure environmentand if lost, iseffortlessly recovered using a backup option. So, each timethe mobile wallet money is registered, it avoids entering account information saving us time.Several areas like companies, banks, and customersmake effective use of a mobile wallet.Indian economy is gradually moving towards a cashless economy. The roots of the cashless economy emerged even before the declaration ofdemonetization. It is our responsibility tolead our economy towards an increasingly “digital economy.”