Arun Jaitley counters critics, says India increasingly jumping on digital payments bandwagon

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November 24, 2016 7:07 PM

Finance Minister Arun Jaitley on Thursday during a meeting with the heads of all banks, which was held through video conferencing today, said the sole agenda of the meet was to discuss digital banking and how it can be expanded especially in the wake of the government's demonetisation drive.

demonetisation. demonetisation india, economy, economy news, digital india, digitizationThe finance minister quoted numbers and said that out of 80 crore cards (debit and credit) which are in circulation, 40 crore are being actively used. (ANI)

Finance Minister Arun Jaitley on Thursday during a meeting with the heads of all banks, which was held through video conferencing today, said the sole agenda of the meet was to discuss digital banking and how it can be expanded especially in the wake of the government’s demonetisation drive. Talking about debit and credit card users, Arun Jaitely countered the argument that Indians have not yet adapted to digital transactions. He argued that there has been a significant expansion in the use of e-wallets and debit cards in India. The finance minister quoted numbers and said that out of 80 crore cards (debit and credit) which are in circulation, 40 crore are being actively used. Asserting the fact that demonetisation will only help the economy, Jaitley said that a task force which will monitor the expansion process of digital banking has been set up. He added that physicial currency might shrink but trade and business of the country will grow. Here is what FM Arun Jaitley said:

Earlier today, Arun Jaitley had taken a dig at opposition parties and had said that the present government was convinced that their decision was current as the parties which have been involved in scams are opposing it.

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