Sanjay Kumar Goyal, Research Scholar, Faculty of Law, Bhagwant University, Ajmer, Rajasthan, India Dr. Sanjay Choudhury, Professor, Faculty of Law, Bhagwant University, Ajmer, Rajasthan, India ABSTRACT The rapid expansion of digital payment systems has fundamentally altered the manner in which financial transactions are conducted in India. Technological advancements, combined with regulatory initiatives and increased digital literacy, have resulted in a gradual decline in the use of...