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Mastercard says India will become a less-cash economy—but only in 10 years

Mastercard says India will become a less-cash economy—but only in 10 years

As ATMs run dry in India, the Narendra Modi government and the payments industry have learnt an important lesson: cash isn’t going anywhere. While the government shifted the goalpost several times following November 2016’s shock demonetisation, one of its key objectives was to increase digital transactions. And though spending via cards and mobile money did…