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Demonetisation and Social Change

(Vol. 15, No. 2, April-June, 2017) ISSN 0973 – 8444
Cashless Rural Economy – A Dream or Reality ?
Sheetal Thomas1 & G. Krishnamurthi2
1Visiting Fellow, Development Management Institute, Patna. Email id:, Phone no.: 9537521081
2Dean and Professor, Development Management Institute, Patna. Email id:, Phone no.:7091496201
Abstract: It has been nine months to the historical step towards demonetization of currency notes worth ‘1000 and‘500. It was anticipated that demonetisation would propel the economy from a highly cash based one to a more cashless payment economy. Taking into consideration the pros and cons of demonetisation the objectives of the research paper are to review the impact of demonetisation on the rural economy, and to examine the fulfilment of government’s motive to make rural India a cashless economy and to identify the opportunities and challenges that exist in making a cashless rural economy. The paper is based on secondary data collected from various print and media sources. Conclusions are made based on the graphs and percentile methods used to analyse the data. Based on the findings, it identifies schemes like PDS and MNREGS which could be hopefully used in making the dream of cashless economy more of a reality.
Keywords: Rural Development, Rural Economy, Cashless economy, Demonetisation, Bank Branches.
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