Prime Minister Narendra Modi’s ambitious vision is to see all transactions done through banks and that too digitally. There have been many steps to discourage cash transactions and promote digital banking transactions. Stories of chaiwalas and paanwalas accepting their small amounts through digital mode were common during the note ban. There is a huge surge in transactions done through debit cards, credit cards, e-wallets and apps developed by the government, banks and third parties. The idea is to control the generation of black money, although this digital banking vision and strategy were missing in Prime Minister’s speech on November 8,
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