Digital roll-outs will result in a shift towards less cash and more efficiency

Payment infrastructure is evolving as the country moves towards a ‘less cash’ society. According to the RBI’s payment statistics, the volume of cheques as a percentage of total payments (excluding ATM transactions) is down to 13 per cent in May 2016, compared with 34 per cent in the financial year 2013-14. This trend is being facilitated by continuous efforts by the central bank to strengthen th...