RuPay card usage surged 118% in first week of demonetisation
RuPay card usage jumped by over 118.6% in the week following the demonetisation move that took effect from November 8 midnight, RBI data stated. Further, the overall debit and credit card transactions recorded an increase of 70.5%. The government demonetised high-value notes and also imposed restrictions on cash withdrawals from banks and ATMs, prompting people to move to digital transactions.