There are some private banks which have their own policy through which  they deduct some amount from the account holder's account after every transaction through ATM card. The regular users are aware of all the rules but the first timers are usually unaware. In such a case many lose some money without  having any knowledge about it. The account holder incurs loss which is not at all fair. Thus, in cashless economy people need to know  and understand the policy of the different banks and take the advantage of the best policy or else the people may some time become looser. The nationalized banks and private banks are at times deal differently and in that case people without cash will be in trouble dealing with various issues.

What most people who criticise the governments move on demoetization including the previous ruling party is the fact that only 1% of the population pays income tax in India. The previous governments have miserably failed to bring in the private individuals, farmers , small business men and petty stores and others in to the tax net. This is the biggest loop hole ever that helped generated black money. With the demontetization drive and the impending electronic payment system ,more transparency comes into the system and this what fears most people because they will not be able to escape paying tax that easily. Has there been any progressive step in the past including opening up of the economy by Rajeev Gandhi, PV Narsimha Rao and Man Mohan Singh that has not been opposed tooth and nail ? and later lauded. Similarly,this too will pass and once fully implemented we are bond to see the difference it will make to our economy. One cannot expect things to change within a month or even two months but personally I would think that a six months period would be sufficient to implement the first step of the new economic system since obviously there is more to come !

I totally agree with Usha. Everyone needs to be brought into the loop of income tax. That is the way to churn the economy in right direction.

Moreover, when we talk about cashless economy and clean economy, we should bring in loop all the political parties and their findings . All transactions should be transparent and not in cash. No donations from anonymous source. This is definitely going to impact all parties including BJP. Hope government takes a step in that direction too. 

Today I saw that in our area many shopkeeper are accepting paytm and while seeing this I really got amazed, it also encourages me to use Paytm, and today I used that, and while experiencing all that I think that going cashless now is not a bad idea because I think this can slow the burden of demonetization smoothly, and now I can say that going cashless is a good experience for me.

I personally did not experience much inconvenience after demonetization and currency ban. I  have not yet gone to Bank. i had nothing to deposit in the bank as we keep bare minimum cash in hand. I had already asked my maid, milkman and gardener to ope their bank account last year and I used to transfer their salary online. When this currency ban was announced, my maid and gardener panicked as they had more than 30 K in cash in their hand as savings to deposit. I helped them to calm down and go and deposit in bank . I gave them holiday for 2 days to get their bank work done. So it is also the traditional mindset with these people to save cash at hand despite of having a bank account. I was surprised and gave them both a good lecture on how saving in bank is more beneficial than saving at home. I have also taught them to use Paytm. Now my maid feels that having less cash in hand is helping her to save money. She has got her debit card is comfortable using it at grocery store.

In one way I feel that there has been a lot of positive changes in the direction of cashless economy in a very short span. 

I strongly feel that empowering poor is a better way to improve the country's economy than making them the recipient of free schemes and keep them begging and poor for ever. Our earlier government have focused more on free schemes to get political brownies and done nothing to empower them. Connecting every one to banking system is a positive step towards better economy and in a long run cashless economy

Now, more and more people are switching over to Paytm that acts as a virtual wallet. It can be used instead of Debit or Credit cards..  A whole village in my state AP uses Phones Pos for essentials.I have seen a banana vendor receiving payment through Paytm

Many such examples are seen almost in the entire Country  Hit by  demonetization and cash crunch, people started finding way out of crisis

Now it is certain that cashless economy is a certainty.

With demonetisation, many things both negative as well as positive things have happened. Many people previously who were unaware of all things related to finance and economy have now started taking active interest in these matters and now are seen taking efforts to learn about them. Even the less educated people have now become more aware and have now opted to use debit and credit cards. What is a pleasing fact is that small shopkeepers, green grocers etc. have also adopted mobile payment systems such as Paytm, Rupay etc. And with passing days, more people are expected to join in.

However, the biggest challenge that we now have is related to easy availability of tech gadgets such as smartphones and their affordability and the high cost of internet data plan. These two things are what makes people avoid using these systems and once the price of smartphones and cost of data plans are brought within reasonable range, more people can avail of online portals. So now, along with financial sector, the government also needs to make things more transparent and stringent in the data communication sector for the transition from cash-controlled to cashless economy become smoother.

Technology has a habit of sooner or later attracting increasing number of users. Decreasing costs and help in gaining more users. All this has been happening in India. It does not depend on who is in power. Smart politicians try to associate with it to give an impression that they are huge facilitators. India is going to increasingly adopt electronic payments as infrastructure for these improve. Let it not be seen as an eliminator of black money as then the arguement gets twisted.

Yeah, technology has become a cup of tea for everyone, everyone even the small children now a day knows about technology and they find it as a game. I think technology are so easy and convenient for people that they can survive even they face the demonetization for the second time, but it all for the richer and the educated people but for the poor and uneducated people it's like the burden which can even take their lives.

India is moving to a cashless economy, and there are a few players in the market like paytm, freecharge which offers cashless transactions. Apart from these private companies, our government should think about some government organisations to help people in doing cashless transactions. Banks are providing cashless facilities to its customers through net banking and debit/credit cards, if they add more features and offers on using net banking and debit/credit cards, public will start using direct transactions from bank instead of using third party like paytm or freecharge. I think government take much out of note ban if they start their own organisations like paytm or freecharge.