How demonetization is benefited in coronavirus pandemic?

demonetization and coronavirus pandemic

Yes, I mentioned Demonetization. Some people thinks that demonetization is a complete failed in India while others thinks its a good step by current Government. The title is not just for getting your attention on this post. It really has an impact.

If its not necessary then postponed/avoid it.

– Indian Public

This is real mentality of Indian public. They do something when it is really necessary. If the digital payments didn’t necessary during the demonetization then people keep preferring cash transaction. Due to demonetization, we the Indian public started using digital payments.

Digital payment apps like BHIM, PayTM, PhonePe, Google Pay (Tez) etc are grow faster during the demonetization. During the consequences of demonetization, these apps face lots of traffic on their network. Later they prepared themselves for such huge traffic. If this didn’t happen at that time, then we face those problems during this pandemic.

How it helps in coronavirus pandemic?

This pandemic is controlled or can be avoided by social distancing. Coronavirus spread can happened due to currency notes too. Digital payments play vital roles in this. Now, public preferring digital payments in their day to day life interchange.

So many people like me are already using online banking apps from mobile. But, demonetization gives a hype to this. Now nearly 8 among 10 educated individuals using online payments. Banking transactions like transfers are happens online now. Before that, people prefer cheque for some payments. Now, those also started using mobile and online payments.