Cash is king again

Even the well heeled in metros find it difficult to go completely digital. Cash withdrawals from ATMs are back at the same level as they were before demonetisation

Tinesh Bhasin Sanjay Kumar Singh & Subrata Panda 

It has been 11 months since demonetisation was carried out to give India, among other things, a digital push. The results, at best, have been mixed. And, cash continues to rule.  In Delhi, purchasing a 55-inch television at a prominent electronic shop in Mayur Vihar Phase 1 means a levy of 2.5 per cent for swiping the card. But, there is a cashback of five per cent. Your net benefit: 2.5 per cent. Pay in cash and the shopkeeper is happy to give you an additional five per cent discount. On a product that costs Rs 89,000, this translates into a significant ...

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First Published: Sun, October 01 2017. 19:12 IST