Velocity MR

Velocity MR Study Unleashed Demonetisation Led to Cashless Society

The study highlights that more than 50% of the respondents across cities felt that demonetization has had a positive impact on our economy. Demonetization has announced in 2016 and one of the primary reasons was the huge rise in the black money aided by the high-value notes in the circulation of the Indian Economy. This by consequence led to the digitization of the economy, given that cash transactions were banned overnight and people started looking for alternative ways to make payments.