"People are going Cashless" unveil the effect of Digitalization in India

 

The COVID-19 epidemic has caused disruptions in economies all around the world. However, these difficulties provide businesses a chance to prosper by adjusting to a new reality, going contact less, and going digital. Digitalization now has a new meaning and will continue to have an impact on more industries.

As Siddharth Mehta IL&FS says, “Now is a great time to focus on digital transformation by acknowledging its requirements while the globe considers methods to lessen the disruption caused to mankind”.

Digitalization fueled up the businesses to go online and they start their online profile and some of the businesses created applications to give their customer easy access and connectivity. The aftermath of this action really aids digitalization. People of almost every age group started using Mobile Apps to purchase almost everything and payment digitally through the UPI ID. These UPI ID is another example of successful implementation of Digital India during the COVID-19.   

 

 

As we all know the coronavirus is a transmutable disease and can spread massively though the transaction of money physically, that’s where the concept of digital payment has taken place and now the whole country is going cashless.

“One of my friends experienced a very weird situation, he was driving to his relative’s place and stopped his car at a traffic signal for a few minutes and a middle-aged beggar came to his car and asked for money, he says he doesn’t have cash so he cannot help him. The beggar didn’t look upset, and immediately took his hand in his bag and took out a UPI QR Code and asked my friend to transfer money through the UPI. My friend was stunned and amazed at that moment and transferred that beggar some money online” Siddharth Mehta of IL&FS shares a story of his friend. He also added “this incident with my friend make me think how much people of India is influence with the digitalization”.