Problem

The rise of cashless transactions in India has been a topic of discussion for a while now. Our team was tasked with conducting a study on the domination of cashless economy in Delhi and Madhya Pradesh. The challenge was to collect primary data, analyze it, and draw meaningful insights from it.

Solution

To conduct the study, we created a Google form and collected primary data from respondents in Delhi and Madhya Pradesh. We then used Python to check the independence of attributes and performed data visualization on the collected data. Finally, we use Chi-square test for the data using Python.

Objective

Ø To study consumer awareness on cashless transactions in two areas Delhi and M.P.
Ø To study the benefits of cashless economy.
Ø To understand the factors influencing the customer moving towards cashless economy.
Ø To find difficulties and challenges faced by people for adoption of cashless economy.
Ø Suggestions to face challenges to improve cashless transaction system in cashless economy.

Conclusion

From the interpretation and analysis of this study we may conclude that India is far away from being a cashless economy.
Factor like illiteracy, E-illiteracy, financial unstably rural life style, lack of awareness, internet availability electronic gadgets are some of the major barriers in making India a cashless economy. Due to these barriers we can also say that the dream of making digital India seems difficult to achieve. The government of India trying its best to overcome these barriers and to switch people to cashless modes of transaction.
But government alone cannot do anything, contribution of each and every individual is required. The dream project “Digital India” may be difficult but is not impossible if the government and people of our nation will support each other, in adopting a cashless economy.

Driving Cashless Adoption in India: Primary Data Analysis