Cash is king, digital is divine: RBI talks digitisation post demonetisation

Digital payments in the country have witnessed a growth (CAGR) of 61 per cent, it said

With 'cash is king, but digital is divine' motto, the Reserve Bank on Monday said its endeavour will be to make digital payments a divine experience for the users after being buoyed by over Rs 3.5 lakh crore reduction in the notes in circulation (NIC) post demonetisation.

In its assessment of the progress of digitisation from cash to electronic, the RBI said while there is no accurate measure of cash payments in the country, the progress of various digital payments can be measured accurately.

Overall, the digital payments in the country have witnessed a growth (CAGR) of 61 per cent and 19