With the time being the country is changing drastically. The Indian society has taken a major shift from the age-old barter system to liquid cash and gradually up to cardless and now its cashless society. To press its gear to match the international level and make the country more transparent in the market government has taken several policies, may it be digital India or cashless society. But the question remains with the implementation of digitization. A country which is even in the 21st century considered to be one of the developing countries where a maximum portion of the people live in villages and in an agrarian society, so how far digitization can reach to their doors? Can the majority of the mass will be able to access, accept and adapt to the changing scenario of the Indian society? This paper would try to figure out the accountability of cashless society not majorly in the rural India but primarily in a comparatively educated mass of the university system. The rationale of the paper is also to know the relation between the cashless society and education. An institution that has been implemented in a third world country like India but how far this institution is comprehensively accepted in the practical ground reality or if it is not accepted then this very transcendental notion of cashless societys existence and accountability must be questioned. This paper would try to answer all these questions through a systematic research work.