“A Study on Digital Transaction and The Role of Cyber Cell”

Abstract

The Indian economic system has prominently changed during the last few years. This change has been noticed because of the Introduction of a cashless economy and the adaptation of digital transactions by the residents of India. In Digital Transactions, we can exchange goods and services in return for monetary exchange through digital gadgets. Digital transaction is not a new term anymore for anyone, we all become used to it. The proliferation of it has increased in the last few years, and now everyone knows about it but as Digital transactions are proliferating in all parts of the Country, we can also see many pitfalls, one of the majors is cyber fraud. These are becoming a severe problem for society. But to deal with it, RBI has released a comic booklet on various types of digital frauds to make people aware of it, and also the cyber security cells are playing a major role in dealing with Digital frauds. Not only this but there are so many other problems faced by people while doing Digital transactions, yet we are not left with any option as the government is heading towards the cashless economy, which has many benefits as well as challenges like digital literacy, Insufficient knowledge about E-banking transactions, lack of digital gadgets, financial weakness, etc. The problems of cyber fraud and digital fraud are becoming critical day by day. The Research question arises “What role did cyber cells play in making digital transactions successful”?  “Are consumers safe while doing digital transactions”? “Is that convenient for all to use digital payment apps and gadgets”? So to know the facts about it the initiative is taken “To study digital transactions and the role of Cyber cell”.