Government of India has taken a slew of measures to promote cashless economy. Our Nation has to go through a lot of transitions in achieving the same. It is not easy for sure, but at the same time it is not impossible. Based on the international studies, right set of tool and technologically along with educating society are the two key enablers for a same.India being world’s fastest growing major economy and also riding high on the digital revolution, has less technological holdback in adopting the cashless ways of doing business. In spite of widespread availability of tools and technology the adoption is less, which can be enhanced by incentivizing society and systematic education/training of masses regarding the short-term and long term benefits.
India is a home to nearly 3.7 million IT professionals. When the Government is pushing for a Digital and Cashless economy, IT industry in the country has a lot to contribute towards this initiative. Majority of the IT professionals in India is on the higher level of income group and the spending capacity. IT industry must leverage the advantage of faster adaptability to the recent shift of economy to a digital era, and may lead the nation by showing the ways to do business in a cashless society, however a push is required to motivate and educate the IT fraternity to become early adapter and innovators in the new digital way of economy.
IT industry can play a vital role in the National Movement of transforming the country to adopt a cashless economy, through extensive training and awareness sessions.
Role of IT Industry in Cashless Economy:
IT Park has a good HR practice and has enthusiastic and motivational trainers who can be catalyst in achieving this transformation. IT Park must ensure 100% cashless transaction for their operations and also encourage their employees to adopt cashless transaction not only in purchase of large amount household utilities but also the articles related to daily needs like grocery, medicines, etc.
Benefits of doing cashless transaction must also be spread among the family members, friends, domestic helps, local shopkeepers, etc. IT fraternity should connect to lowest leaf POS (like local vendors, domestic helps, street and pan shops etc.) to train and motivate them to become part of this national movement.
IT Parks should impart training at their centres about various facilities available for cashless transactions like Unified Payment Interface (UPI), Asdhar Enabled Payments, wallets, Repay/Debit Cards, Credit Cards etc. through their trained resources with the help of presentations,
Audio-visual contents, guide, handbook, pamphlet etc.
IT Parks are requested to kindly take the initiative and encourage the cashless economy by educating the direct and indirect employees & their associated vendors ,suppliers, merchants.