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While most of India seems to be happy handing out paper money for small and large transactions alike, a handful of villagesare penning a defining chapter in the making of India鈥檚 鈥榗ashless economy鈥? Cashless villages as they are called
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From the country鈥檚 larger perspective, its sustainability and benefits throw open a lot of points that are debatable. In this article, we evaluate these angles, in the light of the success stories that these villages have recorded.
A for Akodra
The proud feat of being India鈥檚 very first cashless village goes to Akodra
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The Changing Face of India鈥檚 Hinterland
Akodra is not alone in paving the way for India鈥檚 digital future. In the aftermath of the demonetization drive, several other villages have also taken the bold step of going cashless. Currently, there are six villages
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As mentioned earlier, banks are playing a key role in heralding this digital revolution. ICICI Bank in Akodra, Bank of Baroda in the three villages in Patna and Andhra Bank in Ibrahimpur are working closely with local administrative bodiesto briskly implement changes necessary for this economic transformation.
While the end objective might be the same, there are differences in the transaction models being implemented in these villages. For instance
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