NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Wednesday, May 10, 2017

KOLKATA: The city’s digital “change” is going back to old ways. Six months after demonetisation was announced by PM Narendra Modi last November, TOI revisited some shops that were quick to travel the cashless road. The winds of change that brought in plastic money and e-payments to traditional shops have blown over. Cash is back.

Gitanjali Book Stall on College Street has climbed down from the celebrity status it enjoyed for three months. It was one of those rare bookstores that created history by installing a card swipe machine soon after demonetisation. Owner Dilip Mondal also installed two mobile apps to facilitate sales at a time the entire book market was cursing the absence of cash.