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INDIAN (B)

Love of cash hinders India's move to digital economy

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The demonetisation got rid of old Rs 500 & Rs 1,000 banknotes and PM Modi said that would boost the country’s digital economy, unearth unaccounted wealth and reduce the use of cash. But 99.3% of the junked currency is back in the banking system, suggesting that only a miniscule portion was unaccounted illicit money and India’s addiction to cash is now stronger than ever.



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