IRJMST Vol 7 Issue 11 [Year 2016] ISSN 2250 – 1959 (0nline) 2348 – 9367 (Print) International Research Journal of Management Science & Technology http://www.irjmst.com Page 78 Transition to Cashless Economy in North East India: A study on Kamrup (Rural) District of Assam Author: Amit Saha Research Scholar & Part-time Lecturer Department of Commerce Gauhati University Assam Contact: 98645-22405 amitsahaghy@gmail.com Abstract: A revolutionary change has taken place in our financial set up with the digitalisation of the payment system. With time, this has been moulded again and again in an unending process to come up with newer modes of electronic transactions and payments. However the result of the effort put into by the system for this purpose is far from satisfactory with the probable reason being widespread alienation from this entire modernised set up. This paper would dwell into the various modes of electronic transactions and payments. Further, the study would stress on the consumer attitude towards such electronic transactions and payments and would try to bring out any difficulties faced by a person with ordinary knowledge while performing electronic transactions in the North Eastern region of India. This initiative will only see success when such hindrances would be overcome with wider public participation in this digitalisation movement at every corner of the country. Keywords: attitude, awareness, digitalisation, reliability, electronic wallet Introduction An ideal economy which promises itself of substantial growth must necessarily surge towards cashless trends in its transactions and payments. The Indian economy which is imbibed with lots of hope is slowly transiting into a no-cash economy. However, many things are left undone and expectations unfulfilled as we look into this aspect because a major chunk of the population still remains beyond the purview of the banking system which is expected to bring in a wave of customer trends towards cashless transactions. The pre-requisite for cash-less economy is an efficient banking system which requires more and more people to come under the banking purview. This has rippling effect because it plays a substantial role in credit creation which is a primary requirement for economic development. To gain the impact of credit creation, more and more people should undertake cashless transactions. This will bring in more money into the financial system and enable a steady growth of the economy. The government has implemented a major change in the economic environment by demonetising the high value currency notes – of Rs 500 and Rs 1000 denomination from the midnight of 8th of November 2016. The Finance Minister of our country maintained that one of the principle objects with regard to