RuPay card usage jumps 118 percent: RBI

December 02, 2016 21:31

RuPay card usage jumped by over 118.6 per cent in the week following demonetisation that took effect from November 8 mid-night while the overall debit and credit card transactions recorded an increase of 70.5 per cent.

According to RBI data, the usage of RuPay card at POS terminals soared by as much as 200.6 per cent to 46.6 lakh transactions during November 9-15. This compares with 15.5 lakh swipes during November 1-8.

The government demonetised the old high value banknotes from the midnight of November 8 and also imposed restrictions on cash withdrawals from banks as well as ATMs, prompting people to move to go digital.

RBI said a total of 65.6 lakh transactions were recorded through RuPay cards during November 9-15. This includes 19 lakh spendings through e-commerce platforms.

« Back to LIVE

TOP STORIES

Losing tosses doesn't matter, winning games does: Iyer

Iyer lost his eighth toss in 11 games but that did not a have bearing on the team's performance as KKR amassed 235 for six after being put in to bat by Lucknow Super Giants.

6 Natural Ways to Keep Your Body Cool

Wearing white and lighter colours will prevent heat retention, thus reducing the risk of heat exhaustion, suggests Dr Karthiyayini Mahadevan.

Misa Bharti Opens Poll Office In Cowshed

Misa Bharti's election office in a khatal is meant to symbolise an emotional connect with her parents Lalu Yadav and Rabri Devi's caste, the Yadavs, who are considered traditional RJD voters.

Poonch terror attack 'poll stunt' to help BJP: Ex-Punjab CM

The BJP knows how to play with people's lives and bodies, former Punjab Chief Minister Charanjit Singh Channi said.

These Two Exam Toppers Will Win Your Heart

She cleared her Class 12 UP board exams in the first division. He secured All-India Rank 1 in JEE Mains. This is why their stories are inspirational.