The year demonetization hit India, the use of UPI increased, and people started making digital payments instead of paying in cash. Before 2016, India was known to be a cash economy, but from 2016, the Indian economy started turning into a digital one.
When it comes to making payments, cash has been dominating the market ever since people started exchanging things for money. However, the way tables have turned is applaudable. Cash, which people would love to keep in their pockets/wallets/purses has turned into a digital instrument. People are still carrying cash but in its modern digital-cashless form. The transformation of paper money into digital money is taking over the world and the Indian population is no exception.
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