There is a shift towards digital transaction, says Jaitley

"Excessive dependence on cash has its cost. It is not just cost but it is a curse on both society and economy," he said at an event organised by Punjab National Bank (PNB) here.

New Delhi, November 6: Finance Minister Arun Jaitley on Monday said a clear trend is emerging in the country which shows a shift towards digital transactions.

"Excessive dependence on cash has its cost. It is not just cost but it is a curse on both society and economy," he said at an event organised by Punjab National Bank (PNB) in New Delhi.

There is a clear subtle change taking place in the country and there is a shift towards digital payment, he said.

Digital transactions and transactions through banking instruments are going to grow, he added.

The government has been pushing for a less-cash economy and promoting digital transactions, especially post-demonetisation of high-value currency in November last year.

PTI