Card-based EMI transactions dropped about 60 per cent in the first week after demonetisation and then recovered steadily. However, these are not yet back to the levels before November 8. High-value purchases on instalments by using cards has halved across India since November, when the government undertook the demonetisation exercise. At the same time, card transactions of less than Rs 500 have increased substantially as more Indians began using debit cards to buy goods and services, due ... Rediff.com, 2 months ago
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