{"id":4988,"date":"2017-04-19T13:30:55","date_gmt":"2017-04-19T08:00:55","guid":{"rendered":"https:\/\/teekhapan.wordpress.com\/?p=4988"},"modified":"2017-04-19T13:30:55","modified_gmt":"2017-04-19T08:00:55","slug":"digital-payments-go-up-in-march-but-a-large-part-is-seasonal","status":"publish","type":"post","link":"https:\/\/vivekkaul.com\/2017\/04\/19\/digital-payments-go-up-in-march-but-a-large-part-is-seasonal\/","title":{"rendered":"Digital Payments Go Up in March, But a Large Part is Seasonal"},"content":{"rendered":"
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I have been closely tracking the increase in currency in circulation<\/a> and the volume of digital payments<\/a> being made by Indians, for some time now.<\/p>\n The idea is to check if people are “increasingly” moving towards digital modes of payment in the aftermath of demonetisation. Having more and more people go digital has emerged as one of the motives for demonetisation.<\/p>\n I use the word increasingly<\/em> because even without demonetisation, people have been moving towards digital modes of payment over the years at a pretty good rate.<\/p>\n Look at Table 1. It shows the volume of digital transactions happening in India over the last few months. This table has been reproduced from a report titled Macroeconomic Impact of Demonetisation: A Preliminary Assessment,<\/em> authored by the Reserve Bank of India and published on March 10, 2017. The table had data until February 2017, I have updated it for March 2017 as well.<\/p>\n Table 1: Number of digital transactions.<\/p>\n