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.
News On AIR | November 24, 2016 5:49 PM
Demonetisation's objective: Physical currency must shrink & trade grow, says Arun Jaitley