---
title: "When did cashless introduced in India?"  
description: "A brief explanation about the introduction of cashless in India"  
author: "Anjita D."  
published: 2023-10-19  
canonical: https://yourviews.mindstick.com/story/2949/when-did-cashless-introduced-in-india  
category: "economy"  
tags: ["cashless India", "technology", "innovation", "facts", "general knowledge"]  
reading_time: 1 minute  

---

# When did cashless introduced in India?

![When did cashless introduced in India](https://yourviews.mindstick.com/stories/450bdf92-1f09-492b-aea6-e17dfbb13eb9/images/02f774ee-38fd-4043-8ef9-30857529d550.jpeg) ![When did cashless introduced in India](https://yourviews.mindstick.com/stories/450bdf92-1f09-492b-aea6-e17dfbb13eb9/images/7994b34b-dec8-495a-80d3-79c7575a6eb3.jpeg) Indian government initiated the Digital India program in 2015, aiming to transition the country into a digitally empowered society & knowledge economy ![When did cashless introduced in India](https://yourviews.mindstick.com/stories/450bdf92-1f09-492b-aea6-e17dfbb13eb9/images/739fe32f-1416-4d86-b524-c6a0f3054fae.jpeg) The government demonetized high-value currency notes in November 2016, resulting in the widespread use of digital payment methods. ![When did cashless introduced in India](https://yourviews.mindstick.com/stories/450bdf92-1f09-492b-aea6-e17dfbb13eb9/images/e94831a5-c1ae-4e3b-978d-71c1c6a6cd1a.jpeg) The government launched the Unified Payment Interface (UPI) in 2016, which allows customers to move money across bank accounts using their smartphones ![When did cashless introduced in India](https://yourviews.mindstick.com/stories/450bdf92-1f09-492b-aea6-e17dfbb13eb9/images/78dff4d5-ad3f-499a-ba44-00638c8b7100.jpeg) Also promotes merchant subsidies, public awareness initiatives and collaborations with fintech companies to build novel digital payment solutions. ![When did cashless introduced in India](https://yourviews.mindstick.com/stories/450bdf92-1f09-492b-aea6-e17dfbb13eb9/images/67d5dc6e-75b9-4105-9080-a7a4ca9cb6b7.jpeg) As a result, promoting a cashless economy has boosted the rate of cashless transactions from 17% in 2016 to 45% by 2023.

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