Only 7% rise in transactions through cards post demonetisation

-PTI

NEW DELHI: Transactions through debit and credit cards rose by merely seven per cent post demonetisation, as against a surge of over 23 per cent in overall digital transactions, top government officials told a parliamentary panel.

Officials from various ministries gave a presentation to the Parliamentary Standing Committee on Finance on 'Demonetisation and Transformation towards Digital Economy'.

The digital transactions in all modes increased by 23 per cent to 27.5 million in May 2017 from 22.4 million in November 2016, according to the presentation, a copy of which is with PTI.

The highest jump was witnessed in transactions through UPI, from one million per day in November 2016 to 30 million in May 2017.

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The Economic Times, 16 July, 2017, http://economictimes.indiatimes.com/industry/banking/finance/banking/only-7-rise-in-transactions-through-cards-post-demonetistion/articleshow/59617819.cms?utm_source

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