Govt Claims That 100 Million Indians Are Using Digital Payment Since Demonetisation

Just last week, the Reserve Bank of India said it its report that 99.30 per cent of the demonetised currency is back with the bank, which leaves with 0.07 per cent of unaccounted money.

Prime Minister Narendra Modi’s alleged masterstroke to drain black money out of the system and identify hoarders, fell flat on its face.

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The idea behind the move was also to drive people towards digital payments ecosystem. While it did work for some time and digital payments witnessed a surge, the cash dependency of Indians found its way back.