BUSINESS

‘Digital trade zooms 23 times’

Mass movement:More than 15 lakh people attended the melas, which helped enable lakhs to open new bank accounts as well as apply for new Aadhaar cards, the Aayog said.

Mass movement:More than 15 lakh people attended the melas, which helped enable lakhs to open new bank accounts as well as apply for new Aadhaar cards, the Aayog said.  

Post-demonetisation, 15,000 institutions have gone cashless, says NITI Aayog

About 15,000 institutions have become cashless, following its digi dhan mela initiative held across 100 cities in the country with an aim to create awareness about digital payments, the government think-tank NITI Aayog said.

“[A] 100-day-long information, education and communication campaign, led by NITI Aayog, was held to make digital payments a mass movement in India,” the Aayog said in a statement.

“At least 15,000 institutions have gone cashless in these 100 rural and urban cities,” it said.

Volumes gallop

It claimed that digital payments in the country have grown by close to 23 times since withdrawal of high-value of currency notes was announced in November last year.

“Volume of all digital transactions increased by about 23 times with 63,80,000 digital transactions for a value of Rs. 2,425 crore in March 2017 (since demonetisation) compared to 2,80,000 digital transactions worth Rs. 101 crore till November 2016 (January-November),” it added.

Aadhaar-enabled payments have increased from 2.5 crore in November 2016 to more than 5 crore in March 2017, the release said, adding that Immediate Payment Service (IMPS) transactions have gone up from 3.6 crore to 6.7 crore during the same period.

“BHIM App has already created a new world record by registering 1.9 crore downloads in just four months since its launch in December, 2016,” the Aayog said.

The Aayog further said more than 15 lakh people from cities, small towns and villages attended the melas, which helped enable lakhs to open new bank accounts as well as create new Aadhaar cards.

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