People revert to using cash in India

Demonetization was supposed to increase the number of digital transactions in India, due to the cash shortage. However though there was an increase in the number of digital transactions in december 2016, the number of digital transactions has declined rapidly as more cash was available.
There has been an approximately 20% decrease in the number of digital transaction in February 2017, compared to december 2016, as indians are more comfortable dealing with cash . The indian government forgets that for digital transactions, the citizen has to incur a lot of expenses like the laptop cost, internet charges, hardware, is subjected to identity theft, while for cash transactions there are almost no additional expenses

Leave a Reply

Your email address will not be published. Required fields are marked *