Chanda Kochhar further said the second impact of demonetisation is the acceleration in digitisation of banking transactions. Photo: BloombergDavos: India is seeing a huge surge in the net inflows into financial savings and has reached nearly Rs28 trillion in the last 18 months—an amount equivalent to entire GDP of countries like Thailand, top banker Chanda Kochhar has said. She also said the flow into financial savings has surged significantly since the demonetisation exercise of November 2016. Mobile banking transactions have almost doubled to nearly 150 million in October 2017 as compared to over a year back, she added. These are important benefits that will have far-reaching impact on the economy,” Kochhar said.

Source: Mint January 25, 2018 09:45 UTC