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November 22, 2016

debit card usage in india post demonetization of rs 500 and rs 1000

"debit card usage in india post demonetization of rs 500 and rs 1000"
Sectors that have seen  highest adoption of debit cards in India after demonetization

  Liquor buying, spending on entertainment and restaurants and shopping.These 3 industries has seen the highest adoption of online shopping in India after the government demonitised Rs 500 and 1000 notes in India .Buying Liquor online has showed a 190% increase via debit cards, while spending on entertainment has gone by 183%.
Education sector, paying  fees, and private tutions has been the worst hit, and has seen a dip of 50% when it came to spending by debit cards. One likely explanation is that " Education " spending  including private tutions and fees are largely accounted by " Rural and Semi urban townships"  . Thus percentage has probably gone down, as urban users continued to pay online, however the adoption of  rural folks paying online for Schools and colleges has not picked up
Another explanation is probably that  Indians have clearly  given their choice on what they really want .Between Liquor  entertainment and studying , It has clearly made their choices loud and clear .