Common man supports Cashless economy: Digital transactions hiked by 70 % in a year

New Delhi, November 6: When Prime Minister Narendra Modi appealed the Indians to go digital and use less-cash mode for daily transactions, he was challenged by political pundits and some specific political parties opposed him in the name of common man. But that common man silently accepted the fact that cash is crime; and started using cashless modes. The recent reports are saying that the Digital transactions hiked by 70 % in a year.

 

After the demonetization last year the nation has saw a transformation in its digitalization, the rate of digital transaction has shoot up by 70%. Along with this hike the number of POS machines has doubled the last year in the country.

“PM’s vision of Digital Dhan Abhiyan will witness further immense growth” say the officials.

 

Day by day the concept of Digital payments is becoming concrete. After PM Modi introduced BHIM App for online transactions and arrival of other applications like Paytm, Phonepe etc has boosted up the online transaction rate by merely 20% to 70%. Additionally various schemes offered by this applications has also attracted the users.

According to the reports in last three months transactions done through BHIM App was of nearly 17000 Cr. Around 1 Crore transactions were done through the app.