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The unequal toll of covid showing up now in debit card usage

India pandemic economy Waves
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debit card transactions. The total number of debit card transactions in June 2021 stood at 77.6 crore (the left-hand side of the accompanying chart).

As can be seen from the chart, the number of transactions five years back were higher than the number in June. Further, transactions had peaked at 131.4 crore in October 2019 and have largely followed a downward trend since then -- The point being they had started to fall even before the covid pandemic hit, revealing the weak state of the economy.

The interesting thing is that while the total number of transactions have come down, the average value of a transaction has gone up.

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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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