C S P P R E S E N TAT I O N

DEMONETIZATION AND
DIGITIZATION OF THE INDIAN
ECONOMY
Presented by Gurnoor Singh 021, Gursparsh Kaur 026
 Covered Today
A brief outline
Demonetization
Digitization
India and a cashless economy
Digitization and the Indian insurance industry
Pre-Digital
Post-Digital
Conclusion
Demonetization
November 8, 2016

Demonetization has led to the rapid adoption of e-

wallets, and credit and debit cards as a means of
payment.
Such digital payments have in a large way replaced
cash transactions at least in urban areas.
Digitization

Digitalization has revolutionized money and payments

systems. Although digital money
itself is not new to modern economies, digital
currencies now facilitate instantaneous peer-to-peer
transfers of value in a way that was previously
impossible.
 INDIA AND A CASHLESS ECONOMY

F L I P K A RT JABONG SNAPDEAL
The path toward digitization in India started with the e-commerce start-ups, such as FlipKart, Jabong, SnapDeal
etc. These e-tailers helped begin the process of weaning customers to online channels in the country. Most of
these e-tailers conduct the major proportion of their business through cash, but what they did do and is
continuing to do is familiarize people with the convenience of online channels and cash less transactions.
DIGITIZATION AND THE INDIAN
INSURANCE INDUSTRY
The insurance industry in India is on the brink of a digitally enabled transformation. As the use of
smart, digital products and services increases, customers’ demand for fast, efficient, seamless, and
intuitive products and services are increasing.
Pre-Digital

Post-Digital
 The reason why digital payment has not become popular with small
merchants in India is cost and poor infrastructure.

CONCLUSION

Nonetheless, the World Payments Report, prepared by Capgemini and

BNP Paribas, estimates that global non-cash volumes will increase
10.1% to 426.3 billion in 2015.
SOURCES
https://www.marsh.com/in/insights/research/demonetization-and-
digitization-of-the-indian-economy.html#:~:text=In%20India%2C
%20the%20government%20is,and%20more%20recently%20payment
%20banks.&text=The%20insurance%20industry%20in%20India,of
%20a%20digitally%20enabled%20transformation

https://www.researchgate.net/publication/312426197_Digitisation_of_P
ayments_-_A_Step_towards_Digital_India_Movement