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Post demonetization: digital financial transactions up by 23%
Posted on: 17/Jul/2017 11:16:57 AM
It is confirmed that after the demonetization undertaken during last November, there is an increase in the quantum of digital financial transactions by 23%, The financial transactions using credit and debit cards are up by 7%.
The demonetization was announced last November that the old Rs. 500 and Rs. 1000 currency notes will no longer be valid. After this, the central government has been taking various initiatives to encourage digital financial transactions.
As one of the initiatives, the central government announced schemes such as Digital Lucky Grahak Yojana and Digital Vyapar Yojana to encourage the public to resort to digital financial transactions.
Presently, 7 months after the demonetization announcement, the quantum of all digital financial transactions is up by 23%. IMPs
It has been further announced that the mode of IMPs (Immediate Payment Service), which operates on the 24x7 basis, is up by 200%.
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