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India is a country where 98 per cent of total economic transactions by volume are done through cash. However, this may no longer be the case in future as the government has already steered the country towards cash less society.
Prime Minister's demonetisation move has also divided the top economists in and outside the country over its unquantifiable outcomes, at least for now.
But, the debate whether India can really transform itself into a cashless economy or less cash economy - as government terms it - is refused to die down.
While the jury is still out, we bring you a list of the most cashless nations in the world, based on the percentage of cashless transactions.
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TOP CASHLESS COUNTRIES
CASHLESS TRANSACTIONS 1-Singapore 61% 2-Netherlands 60% 3-France 59% 4-Sweden 59% 5-Canada 57% 6-Belgium 56% 7-United Kingdom 52% 8-USA 45% 9-Australia 35% 10-Germany 33% 11-South Korea 29% 12-Spain 16% 13-Brazil 15% 14-Japan 14% 15-China 10% India 2%COUNTRIES
Source: Mastercard Advisor's Measuring progress towarda cashless society
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