Essay on Cashless India

Cashless India is a scheme which is focusing on bringing a great change in the economy of the country. It involves no longer the provision of exchange of currency notes and coins. The transactions made should be totally online.

Short and Long Essays on Cashless India

These essays written under various words limit will help you to know all aspects of the cashless India scheme.

Essay 1 (250 Words) – What is the Concept of Cashless India


The cashless India mission is aimed at reducing the dependency of people on cash exchange for buying, paying bills, or for several other works. The payment has to be made by using mobile applications, internet banking, debit or credit cards, etc.

Concept of Cashless India

This mission was enhanced by the announcement of the demonetization of 500 and 1000 currency notes on 8 November 2016, at sharp 8 pm. The blocking of the cash economy and no availability of getting money exchanged from banks had left no option for the people. The only way left was to make online transactions. This was the main reason for the demonetization that a cashless scheme must be initiated.

Making India a cashless economy is not a very easy task. It is because the majority of people reside in villages. They are not properly equipped with technological aids. Many of the people are even not educated which is a great problem for making India Cashless. It requires a lot of effort and facilitations done to make this scheme successful.

It is a very easy and time-saving process to make payments online. The payments can be made anywhere and at any place. This saves our time as well as energy too. There is no need of carrying cash wherever we go. There must be a mobile with a bank account attached and proper internet services to complete the online transaction.


The motive of making India a cashless nation is a great effort of the government. There must be more focus on creating proper facilities and educating people. Without reaching these objectives the aim of making India cashless can never be achieved.

Essay 2 (400 Words) – Cashless Transactions as Boon during COVID-19 Pandemic


The word ‘cashless India’ explains about making our country free of cash transactions. The initiative is directed towards the digitalization of India. The system of going cashless is about reducing the exchange of money physically and making online transactions and payments.

Scenario Before and After Digitalization

Earlier we have to visit different stores to pay bills and continue the hindered services. It also happened that sometimes due to deadlines of several bill payments like electricity and water bills, a person has to stand in queue for hours. This was the wastage of time and energy. The banks were almost crowded by people on all the working days for different purposes. Due to the excessive workload, we have to visit the bank, again and again, to get our problems resolved.

The digitalization concept has provided us with different options to pay bills and complete transactions online. We can complete the payments by sitting at home and the offices themselves. There is no wastage of time and energy. It simply requires a little knowledge and a smartphone with internet connectivity to complete the transaction. BHIM, Amazon Pay, PhonePe, Google Pay, Paytm are some of the examples of applications for the online transaction. The transactions can also be completed by entering credit card or debit card details.

Cashless Transactions as Boon during COVID-19 Pandemic

The concept of making online transactions was greatly favored by people during the pandemic. The world is still suffering because of the Pandemic Covid-19. The disease is easily transferable by touch and close contact. Therefore it is necessary to maintain a distance and avoid contact. The transmission can also be possible by the exchange of notes and coins as it is touched by several people.

The best way to avoid contact and transmission during this critical situation is mandatory to make use of online transaction methods. It will be a safe measure and time-saving method. The person can complete the transaction from home only. It is not needed to step out of the house also. These facilities enable us to protect ourselves from getting infected and also help us to follow the guidelines to remain safe.

Challenges in Transforming India into Cashless Economy

There are a lot of problems which is a hindrance in making our nation cashless. There must be proper arrangements made to achieve this initiative. The rural areas are lacking proper connectivity. There is a need to invest in making proper Infrastructures and facilities.

Secondly, illiterate people are not able to understand the concept and procedure of online transactions. There must be an arrangement made for training and educating people about this concept. Poverty and illiteracy are still prevailing in our country to a large extent. These are the major challenges in the way of making India a cashless nation.


A number of people have shown their interest in making online transactions. The online applications provide several awards and cash backs on the transactions which are made. Online transactions are convenient and provide greater transparency. Any change requires a start-up first and the same is observed.

Essay 3 (600 Words) – How Cashless Economy will Benefit India


As the fastest developing nation, the emergence of newer technologies and schemes in India will lead our country towards growth and development.

Technological Advancements Leading Towards Digitalization

The concept of enabling cashless transactions comes under the Digitalization of India. Digitalization is only possible with the advent of newer devices and technology. Going cashless is totally based on technological advancements which are carried out on in the whole world. There is a total involvement of ideas and innovations to make transactions easy and simple in online mode. The use of smartphones makes our work easier. Transactions can be completed in seconds. The advancing technology is ensuring the reliability of the consumers to go for cashless options and making our nation to move towards digitalization.

Initiative taken by our Prime Minister

The cashless India programme, launched by PM Narendra Modi, for making our country a digital nation was initiated by the government on 1st July 2015. The main objective of this plan was to ensure the different services of the government must reach the people digitally. It could be made possible only by improving the online Infrastructure, connectivity of the Internet, and by linking all the areas especially rural areas.

Making India a cashless nation is a great step towards enabling Digitalization. The mission of making India cashless was initiated by our Prime Minister. The announcement of the demonetization of 500 and 1000 notes on 8 November 2016 by Prime Minister Narendra Modi was a better initiative for boosting the cashless transactions in our country. As there was a shortage of money in banks and ATMs, people have to stand for hours in the queue for exchanging money. The best option was choosing online transaction methods.

Advantages and Disadvantages of Cashless India


  • Check on Black Money – The cashless transactions are made online. There are details available of whatever transactions are made. The government can easily monitor all the transactions if the concept of going cashless is made prominent. This will impose a check on the flow of black money.
  • Reduce Overcrowding in Banks – The crowds at banks will be reduced to a large extent if the transactions are carried online. The bank work will increase but crowds of people will be decreased.
  • Eco-Friendly Technology – The cashless transactions will reduce the charges of printing and maintenance of the currency notes and coins. This is a great step towards efficient usage of paper, thus ensuring eco-friendly technology.
  • Reduced cases of Robbery – The fear of theft and robbery prevails in our minds when we carry cash with us. The cashless transactions help in reducing this fear as there are no chances of theft. This will also reduce the work of the police as there will be a reduction in theft and robbery cases.
  • Saves our Money, Time, and Energy – The cashless transactions reduce the unnecessary pain of traveling and paying bills. This can be done from any place but the connectivity should be there. The accounting works of the different bigger organization also gets easier and reduced.


  • The Danger of Cybercrimes – The cases of cybercrime are also increasing day by day. This is possible only when we enter our details for cashless transactions and hackers easily get the information regarding the same. There are many people who have been the victims of these crimes.
  • People of Rural Areas and Illiterate People will have to Suffer – The people who are illiterate cannot understand and make transactions until and unless they are educated and trained for the same. In rural areas, there is the problem of connectivity which is a great hindrance for Digital India’s mission to be fulfilled.


Cashless India is initiated for the betterment of our Country. It will help in developing the connectivity in all the parts of India. The transformation of a nation into cashless needs immense effort to provide all the facilities like good infrastructure, internet connectivity, educating and training to people, etc. It is a great step towards the development of our nation.