International Research journal of Management Science and Technology
ISSN 2250 - 1959 (online) ISSN 2348 - 9367 (Print) New DOI : 10.32804/IRJMST
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IMPACT OF THE ELECTRONIC PAYMENT SYSTEMS ON GROWTH IN BANK DEPOSITS IN INDIA
1 Author(s): SANGYA RANJAN
Vol - 4, Issue- 2 , Page(s) : 595 - 599 (2013 ) DOI : https://doi.org/10.32804/IRJMST
It is common observation that growth in economy and demand for banking services go hand in hand. As economies grow and money circulates repeatedly, banking system offers a dependable vehicle for this circulation. Existence of a Parallel Economy is again a matter of common knowledge and it is also well appreciated that this parallel economy prefers informal, non-traceable modes for transfer of funds. The government has been trying various approaches of incentivization and enforcement to contain and reduce the size of this parallel economy over the years. Various campaigns have yielded success to varying degree, but the quest still has to go on. Hunt for more easily implementable and more effective means is still not over.