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India's love for cash hinders move to digital economy

Thursday, November 14, 2019, 2:36 PM

India's dependency on cash may slow the country's transition to digital-payments despite large numbers of internet and mobile-phone users. For many citizens living in rural areas, cash is still the bedrock of daily existence because of a lack of facilities. Indian PM Modi backed a shock ruling in November 2016 to outlaw 86% of cash in circulation to target undeclared "black-money" and fight corruption.