Post demonetisation, card transactions rose up by 7%

Transactions through debit and credit cards increased by 7% after note-ban, as against a surge of over 23% in overall digital transactions, top government officials told a parliamentary panel. Many officials from various ministries presented their observations to the parliamentary standing committee.

The digital transactions in all modes increased by 23% to 27.5 million in May 2017 from 22.4 million in November 2016. The highest jump was witnessed in transactions through unified payments interface, from one million per day in November 2016 to 30 million in May 2017.