From Cash to Clicks: The Evolution of Money in India's Economy

This study analyzes the shift from cash-based transactions to digital payment systems, looking at the dynamics of both digital and physical money in the Indian economy. It examines the technological, social, and economic aspects that influence the use of digital currency, assesses how it affects monetary policy, economic formalization, financial inclusion, and transaction efficiency, and offers a comparison with physical currency. The report also takes into account issues like socioeconomic inequality, internet literacy, cybersecurity, and infrastructure limitations. This paper provides policy proposals to balance physical and digital currencies for sustainable economic growth, highlighting the changing money landscape in India through case studies and numerical data.