Digital payments exceed ATM withdrawals

There are early signs that India is finally turning into a digital payment economy less dependent on cash. For the first time, in the fourth quarter of 2019, the value of card and mobile payments at Rs 10.57 lakh crore exceeded ATM withdrawals which amounted to Rs 9.12 lakh crore. Card and mobile payments are now at Rs 10.97 lakh crore, even as ATM withdrawals declined 5% to Rs 8.66 lakh crore.

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