Cash withdrawals at ATMs rise 235% since demonetisation
Cash withdrawal using debit cards at ATMs stood at ₹2.86 lakh crore in March 2023.
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Despite DeMo, cash is still king in real estate
Around 44% of respondents in a nationwide survey say property purchases since demonetisation 6 years ago continue to have a cash component.
Currency in circulation falls during Diwali for first time in 2 decades: SBI
With the increased acceptance of digital payments in the country, the over reliance on cash is slowly fading away.
Mobile, digital wallets hold 66% of India’s e-comm market
In terms of alternative payment solutions, Google Pay has overtaken Amazon Pay to become the most preferred online payment solution in India, while Paytm ranked third
Budget 2022: Currency in circulation up 2x since DeMo
Cash has grown in prominence despite a very swift rise in digital payments in India over the last few years.
In digital era, India refuses to let go of cash
Cash touches 14.5% of GDP, up from 10.7% pre-DeMo. Use of mobile payments is rising, but only within the Tier-I cities.
