Debit cards have conclusively displaced credit cards as the primary mode of payment in the country following demonetisation. Until October last year, despite outnumbering credit cards by a factor of more than 25, debit cards accounted for only 42% of the total card spend. This has jumped to 60% after demonetisation, which was announced on November 8, 2016.
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Debit cards have conclusively displaced credit cards as the primary mode of payment in the country following demonetisation. Until October last year, despite outnumbering credit cards by a factor of more than 25, debit cards accounted for only 42% of the total card spend. This has jumped to 60% after demonetisation, which was announced on November 8, 2016.
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Watch Demonetisation effect- Debit card spend more than doubles With HD Quality
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Private lender Axis Bank on Tuesday reported 131 per cent year-on-year (YoY) surge in standalone profit at Rs 1,681 crore. The bank had posted a profit of Rs 726 crore in the year ago period. Analysts in an ET NOW poll had projected the profit at Rs 1,235 crore. Miscellaneous Income for the quarter jumped to Rs 1,007 crore from Rs 148 crore in the year-ago quarter.
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'During Congress' rule, people would earn more spend more. Today, one has to double the investment while getting half the return.' Meet Vijay Wankhede, a garage owner, who narrates the hardships he faces due to govt's faulty policies.
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Congress leader Ghulam Nabi Azad on Thursday remarked on the number of people who have allegedly died because of demonetisation. He said the number of people who have died because of demonetisation is greater than the ones in Uri terror attack. Blaming the government for bad policy making, Azad asked who should be punished for it.
Azad also added that air strikes should be made against BJP for making such policies.
After drawing sharp flak from Bharatiya Janata Party (BJP) leaders, Leader of Opposition in Rajya Sabha Ghulam Nabi Azad, on 17 November, shot back at the ruling dispensation and said that anyone who questions the BJP is either is dubbed as an 'anti-national or Pakistani'.
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