Are We on the Verge of a Cashless Society? 1

By Bhaskar Chakravorti, Senior Associate Dean, International Business & Finance, Tufts University. An Indian man displays new currency notes of 2,000 Indian rupee. AP Photo/Ajit Solanki On June 27, the ATM turns 50. Former U.S. Federal Reserve Chairman Paul Volcker once described it as the “only useful innovation in banking.” But today, the cash that ATMs…