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Economy

Love of cash hinders India's move to digital economy

Updated : November 14, 2019 08:47 AM IST

For many citizens living in rural areas, cash is still the bedrock of daily existence because of a lack of facilities.
India has the fewest ATMs per 100,000 people among BRICS nations, according to the International Monetary Fund.
99.3 percent of the currency that was junked during demonetisation is back in the banking system, suggesting that only a miniscule portion was unaccounted illicit money or fake currency notes, and India's addiction to cash is now, perhaps stronger than ever.
Love of cash hinders India's move to digital economy
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