With cash returning to the economy, not only are digital transactions falling month-over-month after the demonetisation spike, but it is now turning out that growth in digital transactions is similar and in some cases slower than what was seen before November 2016.
In the seven months between November 2016 and May 2017, digital transactions grew 1.15 times in volume and 1.11 times in value. As compared with this, transactions in the immediately preceding period grew 1.14 times in volume and 1.12 times (faster) in value. Even for the 12-month earlier period (November 2015 to May 2016), digital transactions gained 1.08 times in volume and a relatively faster 1.19 times in value.
SOURCE: Times of India