Issues and Challenges of Demonetization on Digital Banking

Kumar Anurag

doi:https://doi.org/10.51976/ijari.531703

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Issues and Challenges of Demonetization on Digital Banking

Kumar Anurag

Vol 5 , Issue 3 , July - September 2017 | Pages: 12-16 | Research Paper

https://doi.org/10.51976/ijari.531703

Received: June 25, 2017 | Revised: July 20, 2017 | Accepted: July 28, 2017 | Published Online: September 15, 2017

Author Details ( * ) denotes Corresponding author

1. * Kumar Anurag, Department of Computer Science, Delhi Technical Campus, (Guru Gobind Singh Indraprastha University-Delhi ), Greater Noida, Uttar Pradesh, India (kmranrg@gmail.com)

By Demonetization, in order to reduce the use of black money, the Govt. of India wants that the citizen of India to do the payments, digitally as much as possible. Now, Digital Banking means that the financial transactions made without the use of paper documents like cheques. It include use of debit card ,credit card, e-wallet like Paytm, Airtel Money, Freecharge, Vodafone m-pesa, etc. Now, Digital payments have several merits and demerits also. So, some methods can be highly adopted while others are relatively less. This research aimed to identify the digital problems and offer some solutions about how to fix and improve them possibly.

Keywords

Encryption, Digital Payment, e-cash, cyber cash, Secure Electronic Transaction Protocol

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