Search
Digital Transactions Surge by 25% per Month Post Demonetisation
January 12, 2017
2016 will be remembered for a sudden and steep surge in cashless transactions — apart from and due to the much-debated issue of ‘demonetisation’.
This one move by PM Narendra Modi led to a 25% rise per month in cashless transactions by Indians. This rise on a weekly basis was observed to be 5%.
Some interesting numbers from this period:
- In Mumbai, 60% of the total transactions at petrol pumps are now cashless.
- Eight prominent metropolitan cities in the country have registered a growth of more than 200% in cashless transactions.
- While an average Indian used to make 1.5 cashless transactions per week, the number has been doubled to 3 times per week.
