Card transactions rise by 70.5% after note ban: RBI
In the week following demonetisation, the overall debit and credit card transactions have recorded an increase of 70.5%, according to RBI data. Card transactions jumped from over 1.99 crore between November 1-8 to over 3.39 crore during November 9-15. Demonetisation along with restrictions on cash withdrawals from banks and ATMs has prompted people to move to digital transactions.