DIGITAL PAYMENT AND ITS EFFECTS IN INDIAN BUSINESS
  • Author(s): ASWIN KUMAR
  • Paper ID: 1701270
  • Page: 4-7
  • Published Date: 06-06-2019
  • Published In: Iconic Research And Engineering Journals
  • Publisher: IRE Journals
  • e-ISSN: 2456-8880
  • Volume/Issue: Volume 2 Issue 12 June-2019
Abstract

A booklet on Digital Payments was prepared by NITI Aayog and released in July 2017. The 2018 edition of the booklet is the second annual edition of the aforesaid booklet. Primary objective of the booklet was to provide relevant data on the growth of digital payments so that policy makers can monitor the progress of digital payments in the country. The booklet inter-alia dealt with legal definition of digital payments as provided under the Payment and Settlement Act, growth trends in digital payments and issues relating to charges and challenges for collecting and disseminating disaggregated data The Payment and Settlement Act, 2007 has defined Digital Payments. As per this any ?electronic funds transfer? means any transfer of funds which is initiated by a person by way of instruction, authorization or order to a bank to debit or credit an account maintained with that bank through electronic means and includes point of sale transfers; automated teller machine transactions, direct deposits or withdrawal of funds, transfers initiated by telephone, internet and, card payment. Here in study provides the changes in market before and after digital payments initiated.

Keywords

digital payments, fund transfer, internet

Citations

IRE Journals:
ASWIN KUMAR "DIGITAL PAYMENT AND ITS EFFECTS IN INDIAN BUSINESS" Iconic Research And Engineering Journals Volume 2 Issue 12 2020 Page 4-7

IEEE:
ASWIN KUMAR "DIGITAL PAYMENT AND ITS EFFECTS IN INDIAN BUSINESS" Iconic Research And Engineering Journals, 2(12)