These trends indicate that reliance on cash has reduced significantly since November. And a lot of cash which was lying dormant in savings has now entered into the banking system.

Coming to digitalisation, a substantial jump can be observed across all categories: the poor, who are digitally excluded; the less affluent, who are slowly joining the digital economy as they have Jan Dhan accounts and RuPay cards; and the affluent, who have debit and credit cards. Though many people have gone back to using cash, the overall movement is in the positive direction, and transactions are higher than pre-demonetisation levels.

The figure below shows digital transactions for the poor (digitally excluded) and is measured through Aadhaar Enabled Payment Systems.