@article{fdi:010081043,
  title = {{D}emonetization and digitalization : the {I}ndian government's hidden agenda},
  author = {{F}ouillet, {C}. and {G}u{\'e}rin, {I}sabelle and {S}ervet, {J}. {M}.},
  editor = {},
  language = {{ENG}},
  abstract = {{T}he {I}ndian demonetizations of {N}ovember 2016 came at an entirely new scale to those of {J}anuary 1946 and {J}anuary 1978. {T}his time around, the {N}arendra {M}odi government's measures applied to 86.4% of the banknotes and coins in circulation, the equivalent to 11% of {GDP}. {M}uch analysis has been undertaken on the demonetization. {T}his has largely been critical because of its disastrous consequences on local populations and the most deprived among them. {O}ur paper adopts a different angle: it argues that demonetization has had a key impact on the digitalization of payments. {W}e use data from the {R}eserve {B}ank of {I}ndia from 2014 to 2020 to show that the demonetization period brought about a decline in {A}utomatic {T}eller {M}achines ({ATM}) withdrawals. {I}t equally boosted the adoption of digital means of payments, via {P}oint of {S}ale {T}erminals ({POS}) and mobile banking. {S}ince {O}ctober 2016, the number of {POS} transactions has risen almost threefold, while the number of {ATM} transactions has decreased by almost one-fifth. {T}he current government's rhetoric is to promote digitalization as a means of both formalizing the economy and protecting the poor. {I}ts claim is unfortunately highly debatable.},
  keywords = {{D}emonetization ; {D}igitalization ; {F}inancial inclusion ; {C}ashless ; {M}obile ; banking ; {P}olicy implications ; {I}ndia ; {INDE}},
  booktitle = {},
  journal = {{T}elecommunications {P}olicy},
  volume = {45},
  numero = {2},
  pages = {102079 [12 p.]},
  ISSN = {0308-5961},
  year = {2021},
  DOI = {10.1016/j.telpol.2020.102079},
  URL = {https://www.documentation.ird.fr/hor/fdi:010081043},
}