Digital transactions rise, then slip, now flat

Transactions through wallets and credit cards are rising but cash has made an aggressive comeback

Yes, demonetisation did force individuals to look at digital transactions, but only for the first few months. With the Reserve Bank of India slowly increasing the currency in circulation, households and businesses are slowly going back to their preferred means of payment — cash. Cash withdrawals from ATMs are now close to levels that prevailed before demonetisation. Payments through wallets and credit cards have seen a marginal rise. But, these are still not significant in the payments space. More time is needed to become a cashless society.