For inclusion, banish cash - Janmejaya Sinha

............According to the Reserve Bank of India's data, cash still accounts for 90 per cent of all monetary transactions in India. Even as growing numbers in cities are using electronic payment systems, such as the National Electronic Funds Transfer (NEFT), these made up a paltry 3.2 per cent of total payments across the country in 2012-13. In fact, even old-fashioned cheques account for less than 10 per cent of total payments. A medium-term vision to bring down cash from 90 per cent to even 50 per cent of payments would dramatically spur inclusion..................

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