How to become cashless in rural India?

Cashless India is a revolution that is all set to change the society in a better way. Technically, greater usage of digital payments can save trillions of rupees for the Indian economy and will also bring down the cost of cash maintenance. The Reserve Bank of India and other banks, spend more than 21,000 crores in currency operations. The scale is quite genuine for a country which completely relies on cash for the day to day transactions. But the time has come when a change is needed for a better future of India.

If we compare the rate of digital transactions in two main divisions of the countries, then cities are surely ahead of the rural parts. The irony here is that more than 60% of Indian population lives in villages, which means a significant portion of the country is still deprived of the ease of digital wallets. A lot needs to be done to make the rural India cashless, and here we are going to discuss the same.

How can people become cashless in rural India:

1. Spread Awareness

A large number of the Indian population still does not know how to operate an ATM. When the condition is this worse, the government will first need to spread awareness in the rural parts regarding cashless society, transaction process, and its benefits. Training and education will be the first step towards a cashless economy. More the people know about cashless economy works, quicker they will accept it and start using it.

2. Availability of smartphones

If not desktops, people at least need to lay their hands on smartphones. All the mobile wallets are available on smartphones only, but still, most people dont have access to smartphones. The gap in the statistics is shocking and needs to be decreased if we want to go cashless. If people have access to the smartphone, they will surely opt for online transactions.

3. Reliable network

Although the internet facilities have improved in India with a lot of operators providing the internet in the remote areas as well. Some parts of the country still dont have access to the Internet and those who have it; internet speed leaves no scope for a transaction. India needs a network provider that can serve the need for rural areas without being too expensive. If there is the Internet in every part of the country, it will also boost the awareness rate.

4. Language compatibility

While English remains the ruling language of smartphones, the majority of the Indian population still stick to their mother tongue. One of the primary reasons behind the lower rate of smartphone usage is the mother tongue. Seeing this problem, mobile wallets like PhonePe has gone for multiple languages, including Hindi and Tamil. Digital wallets with local languages are a great relief to the people who are not comfortable in English.

The road to becoming cashless in rural India is undoubtedly difficult, but not impossible. If only the government starts with awareness and training program, Indias addiction to cash can be put to an end.