It is pleasing to see smaller merchants such as tea stalls, grocery stores as well as consumers in rural and smaller cities embracing digital payments
The Modi government’s demonetisation decision, replacing 86% of currency, was undeniably disruptive. No major disruptive decision comes without upheavals and it will be foolhardy to suggest that the removal of Rs500 and Rs1,000 notes from circulation hasn’t inconvenienced most people, especially those on the wrong side of the socioeconomic and digital divide in India—the poor. Yet, the exercise was neither a knee-jerk reaction nor was it without consideration for the poor. In fact, it was just the opposite and reflective of the inclusive motto of the Prime Minister and his government’s ‘sabka saath sabka vikas’ theme.