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    Home»Personal Finance»Cash usage still prevalent in India despite digitalization
    Personal Finance

    Cash usage still prevalent in India despite digitalization

    Finance KhabarBy Finance KhabarNovember 9, 2020No Comments1 Min Read
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    It was in 2016 that Modi government announced demonetisation in order to remove black money and corruption from the country.

    However, a report says that cash usage is still huge and majorly used for buying groceries and making payments to domestic staff.

    A community social network LocalCircles conducted a survey which said that top categories of purchases for which people of the country paid the most amount in cash without a receipt were groceries (for 39 per cent respondents) and salaries for domestic staff (for 31 per cent out of the 15,376 respondents) in the last 12 months.

    Modi government introduced digitisation and encouraged the use of online banking and digital facilities in order to create a cashless economy and remove fake notes from the country.

    However, implementation issues like this of cash usage is still a major concern or a hurdle on the path of Digital India.

    By Sahana Iyer

    Cash usage
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