Background/Objectives: India as a developing nation, in the journey towards the economic prosperity the concept of Cashless Economy will have an eminent role. The present study aims to evaluate the status of Cashless Economy concept in Indian scenario.

Methods/Statistical analysis: Analyzing different electronic settlement indicators/utilities for the period of six years from 2012 to 2018 which are compiled from the different annual reports of Reserve Bank of India (RBI). The data set covers both the pre and post three years periods of cashless economy concept of India and availed up to 2018. Total Electronic Settlement, Total Paper Clearing, Total Retail Payments, National Electronic Funds Transfer (NEFT), Immediate Payment Service (IMPS), Unified Payment Interface (UPI), Total Card Payments and Total Debit Cards are considered as the indicators of electronic settlements and Cashless economy tools. Findings: The study found that the Cashless Economy concept of India is a success by positive improved results in the usage and performance of various electronic settlement utilities in pre and post periods of Cashless Economy. By results of decreased value operation of total paper clearing and the positive progress of all other epayment indicators like Total Retail Payments, National Electronic Funds Transfer (NEFT), Immediate Payment Service (IMPS), Unified Payment Interface (UPI), Total Card Payments and Total Debit Cards can conclude the Economic Development program is a success. It also found that different electronic settlements utilities were withdrawn from the market with an effect of launching kind varieties of different up-to-dated customer friendly utilities. The study also enlarge its view to Indian economy will have a positive impact of cashless policy in its growth.