68% of transactions in India are cash-based: CLSA

Russia and Indonesia are ahead of India on this count

Prime Minister Narendra Modi on November 8 announced that Rs 500 and Rs 1,000 won't be legal tender anymore. It was done to curb black money. Ever since, people have flocked to  banks to get their old currency exchanged. 

Data reveals Indians settle maximum number of transactions in cash. 

We bring you the data of cash transactions and currency distribution.