Due to the ban, digital payment has increased 55 percent in the financial year 2016-17. The policy commission gave this information on Monday.
In the ‘Digital Payment – Trends, Issues and Challenges’ organized by FICCI, Principal Advisor of the Policy Commission Ratan P. Wattal said that by the end of fiscal year 2015-16, digital payments had increased 28 percent in the last five years, whereas last The year saw a rapid growth of 55 percent.
Wattal said, “Digital payments have increased due to the ban on old currency.” This government initiative means that ultimately technology will determine the behavior of the customers and now GST will increase further. ”
While releasing a booklet on the preparation of digital payments by the Commission, he said, “These figures show that India is standing on the verge of a digital payment revolution.”
He said, “Innovation in digital payment technology will encourage it further.”