E-payments Seeing Marginal Dip in Last Few Months: HDFC

By Religare
Subscribe to GoodReturns
For Quick Alerts
Subscribe Now  
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    A report has said that with easing of the liquidity crunch, transaction volumes for overall retail electronic payments has seen a marginal dip in the past few months.

    E-payments Seeing Marginal Dip in Last Few Months: HDFC

    According to HDFC Bank, the argument that decline in currency with the public from the pre-demonetisation levels implies a structural drop in cash usage is perhaps misleading.

    As per reports, the volume of retail electronic transactions peaked to 1.30 billion in December, last year, after demonetisation was announced by the government on November 8 as part of its drive to counter black money menance as well as promote cash-less culture. However, since then the volume of retail electronic transactions has steadily been below the 1.30 billion level.

    "After an initial spike in digital payment methods, there is anecdotal evidence that some smaller merchants are reverting to cash," the report said.

    "With easing of the liquidity crunch, transaction volumes for overall retail electronic payments have seen a marginal dip," it added.

    Read more about: hdfc payments
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more