Atithya: A Journal of Hospitality

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Surviving Demonetization - A Fight of the Restaurant Industry


Affiliations
1 Savitribai Phule Pune University, Pune, Maharashtra, India
2 AISSMS’s College of HMCT, Pune, Maharashtra, India
     

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"DEMONETIZATION" proved to be a great milestone in the economic journey of India. Demonetization has shaken up the economy and forced the stake holders to come out of their comfort zones. The aftereffects of the same would last for a long time especially for the industries that depended highly on cash transactions. Moreover, the shift to digital economy either forcibly or voluntarily would create a disruption and such industries would have to get adapted to the changing conditions.

This study aims at analyzing the measures adopted by the restaurant industry to fight back demonetization.

The findings of this research suggests that "Banks not tendering sufficient cash on a daily basis" and "Reduced cash sale" was the major challenge faced by restaurant owners and "Making alternative digital payment options available to the guests" and "Encouraging restaurant owners to move towards digital economy" are the most effective measures to fight challenges of demonetization.


Keywords

Demonetization, Restaurants, Digital Payment.
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  • Surviving Demonetization - A Fight of the Restaurant Industry

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Authors

Shailendra Dareker
Savitribai Phule Pune University, Pune, Maharashtra, India
Milind Peshave
AISSMS’s College of HMCT, Pune, Maharashtra, India

Abstract


"DEMONETIZATION" proved to be a great milestone in the economic journey of India. Demonetization has shaken up the economy and forced the stake holders to come out of their comfort zones. The aftereffects of the same would last for a long time especially for the industries that depended highly on cash transactions. Moreover, the shift to digital economy either forcibly or voluntarily would create a disruption and such industries would have to get adapted to the changing conditions.

This study aims at analyzing the measures adopted by the restaurant industry to fight back demonetization.

The findings of this research suggests that "Banks not tendering sufficient cash on a daily basis" and "Reduced cash sale" was the major challenge faced by restaurant owners and "Making alternative digital payment options available to the guests" and "Encouraging restaurant owners to move towards digital economy" are the most effective measures to fight challenges of demonetization.


Keywords


Demonetization, Restaurants, Digital Payment.

References