Demonetisation, Banking and Trust in ‘Bricks’ Or ‘Clicks’

This article seeks to advance contextualised understanding of the extent to which a cashless economy in India can be a feasible developmental goal. Initially, impressed with critiques of the sudden ‘demonetisation’ on 8 November 2016, we conducted econometric research to test how banks (‘bricks’) co...

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Bibliographic Details
Published inSouth Asia research Vol. 40; no. 2; pp. 181 - 198
Main Authors Adil, Masudul Hasan, Hatekar, Neeraj R.
Format Journal Article
LanguageEnglish
Published New Delhi, India SAGE Publications 01.07.2020
Subjects
cashless economy
trust
COVID-19
demonetisation
development
digitalisation
pandemic
banking
India
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Summary:This article seeks to advance contextualised understanding of the extent to which a cashless economy in India can be a feasible developmental goal. Initially, impressed with critiques of the sudden ‘demonetisation’ on 8 November 2016, we conducted econometric research to test how banks (‘bricks’) could be brought closer to rural people. However, this traditional approach of envisaging more banks was rapidly overtaken by the massive uptake of digital payment methods (‘clicks’) in India since 2016. Partly driven by the Reserve Bank of India (RBI), this has raised new concerns and research agenda focused on people’s trust in banking and new technologies, consumer skills and people’s basic rights vis-à-vis a state that, controversially, now seems to be seeking more control within a relentlessly changing postmodern scenario.
ISSN:0262-7280
1741-3141
DOI:10.1177/0262728020915566