Cashless transactions have increased by 200-300%, claims PM Narendra Modi

Modi announced the launch of two new schemes as Christmas gift for the citizens

Prime Minister Narendra Modi on Sunday thanked people for their support for demonetisation and claimed that cashless transactions have increased by 200-300% in the recent times.

During his live address Mann Ki Baat, Modi extended his wishes for Christmas to the people and called it a day of service and compassion. Emphasizing on the importance of the day, PM Modi reminded people of the birthdays of two very important people – India’s former prime minister Atal Bihari Vajpayee and Madan Mohan Malviya.


Modi also announced the launch of two new schemes as Christmas gift for the citizens – ‘Lucky Grahak Yojana’ for the good of consumers and ‘Digi Dhan Vyapar Yojana’ for the good of businessmen who must encourage cashless transactions.

Talking about demonetisation, PM indicated its benefits, adding that awareness of digital transaction is increasing. “Cashless transactions in the country have increased by 200-300% in the recent times,” he said. He also appreciated Assam Government for its initiative to promote cashless economy.


Speaking about the benefits of cashless economy, he focussed on how beneficial it will be for startups and younger generation as they can open new avenues through it. He also assured that businessmen making digital payments will receive income tax benefits.

He also called the RuPay cards initiative a big success. “There are 30 crore RuPay cards in the country out of them 20 crore are owned by the poor who have Jan Dhan accounts”, the PM informed.

The PM also praised and congratulated Indian junior hockey and cricket teams for their phenomenal performances this year. While the junior hockey team brought home the World Cup after 15 years, Indian cricket team defeated England with a huge margin.

Modi also wished the country a glorifying and New Year