ANVESHAK-International Journal of Management

Babita Dubey ¹, S. K. Srivastava ²

Affiliations
1 Department of Commerce, H.N.B.G.U., Srinagar, Garhwal – 249161, Uttarakhand, IN
2 H.N.B.G.U., Srinagar, Garhwal – 249161, Uttarakhand, IN

Abstract

Now a day’s internet is playing a greater role in reducing the distance and communication gap among people across the globe. This is a digital world where sharing of thoughts, ideas, trades etc. with rest of the world have become easy and fast. India is also not untouched from this globalised digital world. In order to benefit the Indian society from this era of digitalisation various step has been taken to encourage Paperless economy and to tackle with fake currency issues, black money and corruption issues, excessive cash circulation in Indian economy outside the banking system. This paper tried to analysethe attitude of bank customers’towards cashless transaction. Study also tried to determine the customer’s preference method while performing digital transaction and frequency of using cashless transaction. Paper tried to analyse where do cashless transaction stand among people? Does cashless transaction have made any changes in the people’s transaction habits? Data was collected through self-structured questionnaire which was distributed among bank customers in Dehradun, Uttrakhand. The data was analysed through percentage, mean and factor analysis method. After studying the data, it was found that the cashless transactions are now preferred by most of the people. They are getting acquainted not with debit cardsonly; they also prefer mobile banking and internet banking as well. Mobile banking and internet banking are more frequently used by the respondents whereas weekly transaction with Debit cards is higher. NEFT and RTGS are least preferred by the respondents, this shows that they are not much aware about these methods of performing cashless transaction. The factor analysis explains that Threat factor related to security and costs issue are more affecting factor and Adaptability factor has least impact on the attitude of respondents while performing cashless transaction. Least impact of adaptability factor shows a hope towards the implementation of cashless economy in India, as the main obstacle behind implementation of cashless economy in India is its adoption.

Keywords

Attitude, Bank Customers, Cashless Transaction, Demonetisation, Factor Analysis.

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