* Dr.N.Mahesh

ABSTRACT

The ban on high-value notes announced by the government on November 8th 2016, has impacted on formal economy on earnings and the spending behaviour of asection of people. T'he role of Education sector 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, a clean economy and stable financial system. The students, faculty, staff, management and the stakeholders have been affected by demonetisation reforms either in their earning, investing or spending patterns. This effect may be short term or long term. This research paper will survey in 12 colleges in Navi Mumbai area imparting higher education and investigated on 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 demonctisation effect to be adapted among the students and staff of colleges. Key words: Demonetisation, Cashless Economy, higher education.