New Delhi: Following demonetisation, digital transactions witnessed a 4,000 per cent jump in terms of value between November 2016 and April 2017 throughout the country. However, despite the government’s exhortations to people to go digital, between January and April this year, the number of such transactions had plateaued down, and in fact they came down by 21 per cent during this period.
Volume-wise also, while in January 2017 these transactions were 3,14,000 crore, they came down to 1,88,000 crore in April this year.
According to data prepared by the government for the period between November 2016 and April 2017, a copy of which is with this newspaper, in November last year, the value of digital transactions stood at Rs 7,302 crore. However within a month, i.e. in December these transactions witnessed a phenomenal jump of 5,128 per cent and moved to Rs 1,03,718 crore.
Between January 2017, the value of digital transactions sky rocketed further to Rs 3,81,760 crore as people feeling the pinch of unavailability of old notes, started using digital options for making payments even for mundane everyday transactions.
In terms of value, from Rs 7,302 crore worth of digital transactions in November 2016, these jumped to Rs 3,01,650 crore by April 2017, a rise of 4,000 per cent.
However, as soon as notes started becoming available in the market, digital transactions witnessed a dip in both value and volume. Value-wise, from Rs 3,81,760 crore in January 2017, these witnessed a 21 per cent fall by April 2017, when they came down to Rs 3,01,650 crore.
