Use your ← → (arrow) keys to browse
The minister also expressed concern over the high cash to GDP ratio in India in comparison to developed countries and said the demonetisation and digitisation of payments would narrow the gap. In advance countries, the cash to GDP ratio is in range of 4 while in India it is estimated at 12.
Following its move to demonetisation old Rs 500/1000 notes on November 9 last year, the government has been taking several measures to push the country towards less cash economy.
A reward programme for customers as well as merchants has been launched to promote digital payments. The government has also launched BHIM, a mobile app for facilitating cashless transactions.
From Agencies, Featured image courtesy livemint
Use your ← → (arrow) keys to browse
