March 29, 2024

Problem statement:

Impact of demonetization has lead to many consequences. These consequences have been faced by our society. Since 8th November 2016 people are facing. Consequences such as

  1. Exchange of money
  2. Deposition of money in the banks which has lead to long que
  3. Withdrawal of money from the ATMs
  4. Introduction of the rs 2000 note
  5. Scarcity in the cash flow in our economy

 

So as suggested by our prime minister to go cashless there are many applications or you can say various means of mediums have came into existence. Those mediums such as

  1. Pay TM
  2. Pay U money
  3. Mobiquick
  4. EBS
  5. Citrus pay

 

These mediums have contributed on a large scale to go cashless

 

Stake holder mapping:

 

Inputs:

  1. Common man (which includes all types of psychographics, demographics and Geographic
  2. Retail shops
  3. Colleges and schools
  4. Normal vendors,etc

 

Decision makers:

  1. Government rules and regulations.

 

 

Inverted pyramid:

So to witness the consequences of the demonetization we have visited shops in Matunga Mumbai to know whether these shops have gone cashless or not.

  1. 5Ws:

1. What?

– To know whether these shops have gone cashless or not.

2. Why?

– to know whether the money transaction is easy or hard enough.

3. when?

– after 2 months of demonetization

4. how?

– visiting the shops and taking the interview with the owner.

 

  1. Interview:

–          We took interview with the shop owner and asked him regarding the usage of these medias, how has it helped them for transaction. Has their sales increased?

 

  1.    Background:

–          These mediums were introduced much earlier in the market before demonetization. So how has it improved its graph in the market and have it kept its recognition in the minds of the consumers.

 

The shops that we visited are as follows and also what are the important things after the usage of these mediums after and before demonetization.

 

  1. OMG- introduced after demonetization. Easy to use and has increased its sales.
  2. Satyam- introduced before demonetization. Not much effective
  3. Outlook- introduced before demonetization. Has increased their sales and has also helped in transaction of the money.
  4. Boggetto- introduced after demonetization and has effected them positively and helped in transaction and there was not much difference in the revenue of the outlet.
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