NPCI internationalising Indian rupee as the world deliberates on dedollarisation

During demonetisation, digital payments tiptoed in the world where cash payments ruled the roost. Though, digital payments received a cold response during demonetisation. Then no one could imagine that digital payments' popularity would increase exponentially with volumes and value of transactions growing manifold to exceed the levels of 30 per cent of the GDP of the country. The fortunes of the digital payment industry started rising with the government imposing lockdown in 2020. The government announced demonetisation with a singular intent of curbing black money and parallel economy and bringing majority of the transactions within the formal economy. However, what…