A year after the note ban, the jury is still out. Has the gamble really paid off for India and Modi? Read on
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Today there are more than a dozen ways to pay digitally yet people find reaching out for cash in their wallet the easiest way to pay.
The bank account has become the largest bucket. Online payments and debit cards that use the bank account have grown and then there are UPI and IMPS transfers, said Surya.
The experience with demonetisation has shown that Indian taxpayers, like taxpayers all over the world, do respond to economic incentives and disincentives.
A rise in mobile penetration and the roll-out of faster Internet services have the potential to encourage Indians to use digital payment tools for financial dealings.
One97, the holding company that started Paytm, has been diversifying for a while — experimenting with retail e-commerce and movie and travel ticket bookings.
Demonetisation had a salutary impact on property prices by curbing cash transactions and checking speculative pricing, in turn increasing affordability.
The adoption rate of online payment platforms was high during the demonetisation period, but it plateaued out as soon as cash became available in the system.
Bhardwaj said that the housing sector, which had more than 60 product categories linked to MSMEs, was drastically hit, both directly and indirectly.
Remember the man crying in bank queue? Here's what he has to say now
A year on, bankers say note ban has been good for them
The ultra-secret move that no one came to know for several months