November 24, 2016 5:49 PM

printer

Demonetisation's objective: Physical currency must shrink & trade grow, says Arun Jaitley

Finance minister Arun Jaitley today said the principal objective of demonetisation is that the physical currency must shrink and trade and business grow. Mr Jaitley today held a meeting with CEOs of public and private sector banks through video- conferencing to promote digital banking for the convenience of customers. <br/><br/>Talking to reporters after the meeting in New Delhi, Mr Jaitley said that digital banking is a great business opportunity for the banks and they have to take this up in a huge way.<br/><br/>Arun Jitley said, a task force has been set up who will see the entire expansion of digital services. He also rejected the arguments that Indians are not adapted to this digital mode like e-vallet and POS saying that 80 crore baning cards are in circulation out of which 40 crore are active users. <br/><br/>Mr Jaitley said, in the the last few years there has been a huge expansion of e-wallets and debit cards users in the country. Finance minister said lot more transactions will come to the banking system in the process.

Most Read
View All arrow-right

No posts found.