Digital Transactions Up 23 Times Post Note Ban: Niti Aayog

Posted By: Religare
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    The Niti Aayog has said that digital transactions have increased by about 23 times in March to nearly 64 lakh, with total value of Rs 2,425 crore, from last November when demonetisation took effect.

    Digital Transactions Up 23 Times Post Note Ban: Niti Aayog
    Commenting on the issue, a Niti Aayog Official told the media, "Volume of all digital transactions increased by about 23 times with 63,80,000 digital transactions for a value of Rs 2,425 crore in March 2017, compared to 2,80,000 digital transactions worth Rs 101 crore till November 2016."

    "Aadhaar Enabled Payments have increased from 2.5 crore in November 2016 to over 5 crore in March 2017. Immediate Payment Service (IMPS) transactions have also increased from 3.6 crore to 6.7 crore during the same period," he added.

    As per reports, after scrapping of Rs 500 and Rs 1,000 notes on November 8, 2016, the government had launched two schemes to incentivise digital payments -- Lucky Grahak Yojana and DigiDhan Vyapar Yojana on December 25.

    Read more about: niti ayog demonetization
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