Digital transactions declining since March, says junior IT minister P P Chaudhary

New Delhi: The number of digital transactions, which grew significantly in the aftermath of demonetisation last year, has started showing a declining trend since March 2017, according to official data.

 Digital transactions declining since March, says junior IT minister P P Chaudhary

Reuters

The number of digital transactions has come down from 119.07 crore in March 2017 to 118.01 crore in April and further to 111.45 crore in May, P P Chaudhary, Minister of State for Electronics and IT, said in a written reply in the Lok Sabha.

The number of digital transactions was only at 71.27 crore in October 2016. It went up to 83.48 crore in November 2016 and shot up to 123.46 crore in December 2016.

The increase in digital transactions was witnessed after demonetisation of Rs 500 and Rs 1,000 currency notes on 8 November, 2016.

These transactions numbered 114.96 crore in January 2017, and about 101.18 crore in February 2017.

To another query whether commission is charged on cash transactions under digital economy, Chaudhary said scheduled commercial banks have the freedom to levy charges for various services, as per a Reserve Bank of India circular dated July, 2014.

Updated Date: Jul 19, 2017 19:35:34 IST



Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

CORONAVIRUS

COVID-19 Information Centre

  • 24 hrs. helpline no. -
  • +91-11-23978046
  • 24 hrs. toll free no. -
  • 1075

India

  • Active Cases

  • Total Confirmed

  • Cured/Discharged

  • Total DEATHS

*change over the previous day
Data Source: Ministry of Health and Family Welfare, India
Updated: Jun 05 (08 AM)
Hospitals & Testing centres

World

  • Active Cases

  • Total Confirmed

  • Cured/Discharged

  • Total DEATHS

*change over the previous day
Data Source: Johns Hopkins University, U.S. (www.jhu.edu)
Updated: Jun 05 (08 AM)
Hospitals & Testing centres