A STUDY ON POST DEMONETISATION AND CHANGE IN CONSUMPTION, PAYMENT & INVESTMENT PATTERN OF COLLEGE STUDENTS

Since the night of November 8th 2016, government announcement of demonetisation drive in formal economy has impacted on earnings and the spending behaviour of a section of the people. The role of Higher Education is important in developing awareness of demonetisation drive among the students and other stakeholders for preparing them for future challenges and mitigating to formal cashless economy. Education plays a key role in the transition towards digital push, Besides, the stakeholders have been effected by demonetisation reforms either in their earning, Consumption, payment & Investment as well as spending patterns. The stakeholders include students, their parents, college management, staff, suppliers and others. This study of 3 colleges in all area imparting higher education was surveyed on 10 major factors of demonetisation drive by using the awareness level, spending pattern, earning pattern, digital push within campus and preparedness as well as initiatives and development of cashless system, etc. The aim of this paper is to understand cashless campus initiatives by the colleges and their commitment towards digitization and clean economy as a whole. Further, this paper discuss on best way to mitigate demonetisation effect to be adapted among the students and staff of colleges.