When Prime Minister Narendra Modi announced demonetisation on the evening of 8 November, 2016 that sucked out 86 percent of currency in circulation at that point, the country went through a difficult transition. Unable to access cash from banks or ATMs for a brief spell temporarily derailed the economy. A year later, the digital transformation has changed the payment landscape.
Growth will definitely bounce in, if not immediately but in the long term with demonetization. There will be more transparency with the use of electronic payments. So, if the demand is more for such services the supply will also have an effect. In sectors like banking, retail and internet business new jobs will require skill sets that have technical expertise, softwares that run multiple online transactions. So, your employment will be niche with new type of jobs pumping in.
This article was published on FirstPost.com
