Currency

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Digital Payments Gain On India’s Currency Demonetization

Investopedia.com, November 15, 2016 As almost 86% of India’s currency circulation turned into worthless paper after November 8, 2016, mobile wallets and fintech companies providing alternative payment avenues saw a big boost. People turned to digital payments after initial confusion followed by serpentine queues outside banks and empty ATMs. That’s a big deal for a country that paid cash … Continued

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For more and more Indians, ‘cashless’ is king

The Hindu Business Line, Mumbai, October 30, 2016 For more and more Indians, ‘cashless’ is king The Center’s initiative to move from a cash-driven economy to a cashless one so as to improve audit trails, plug revenue leakage, and target subsidy transfers to the needy seems to be bearing fruit.Data from the RBI, sourced through … Continued