Digital Payments And The New Normal

There is no doubt that the global pandemic and the ensuing lockdown has crippled economies and changed the way people lead their lives. While the number of transactions have reduced drastically during this time, the way these transactions happen has also undergone a sea change. This leads to the question whether digital transactions are going to become the new normal post-COVID. Many experts believe that while digital payments were already on a rise before the pandemic, the health crisis has given further push to people adopting digital tools to avoid handling of cash. It has also resulted in fewer possibilities to deal in cash. However, there is still a large segment, which relies on cash amid all this and many believe that cash would continue to remain the backbone of the Indian economy for a long time to come.  However, there is agreement on one thing: that once the recovery...