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A comment on India demonetisation fails to purge black money. Parent comment

Re:India demonetisation fails to purge black money by signal11 on Thursday August 31, 2017 @11:44AM (#15141084)
> However, overall it had pretty strong positive impact on economy. Many of the roadside merchants who used to be exclusively cash only, have started accepting dizital payments.

The evidence is that it had a strong negative effect. Also, anecdotally, the roadside merchants who used to accept PayTM for the duration while currency supply was squeezed, have now gone back to cash[1]

However PayTM's CEO is now buying a house in the poshest part of New Delhi, so I'm sure it wasn't all bad for him.

[1] http://www.pymnts.com/cash/2017/cash-usage-india-post-demone... ... "March data from RBI poured cold water on proponents of digital payment. The volume of overall digital transactions, which had increased by 42 percent from 672 million in November to 958 million in December 2016, declined by 20 percent to 763 million in February 2017."

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Re:India demonetisation fails to purge black money by amrrs on Thursday August 31, 2017 @11:53AM (#15141149)
And he preordered a Tesla too. While that's not the concern. Calling out 'Roadside merchants accepting Paytm' as a Positive impact on economy is more of anecdotal than data driven. This nevertheless must have increased Paytm's market penetration and cash flow but a lot of road side vendors just had to sit in their homes for days due to unavailability of cash which is their primary mode of purchasing and their customers too.
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