Digital Wallet Service Freecharge reported today that since 500 and 1000 Rupees Notes were banned by Honorable Prime Minister Of India, they saw a 12 times boost in usage by its users. People started recharging their wallets at a great speed after the official announcement of the discontinuation of 500 and 1000 Rupee Notes was made.
The firm saw a whooping 12 times boost in usage by its customers, hours after the above-mentioned announcement was made. Freecharge which is owned and managed by Snapdeal is present at more than 100,000 online and offline stores and outlets as a payment gateway. Some of the big players nurturing the payment service are BookMyShow, Zomato, Swiggy, Snapdeal, McDonald’s, Cafe Coffee Day and Snapdeal.
Govind Rajan, who is the CEO of Freecharge stated, “Freecharge has been on a mission to Make India Cashless. The announcement made by the Honorable Prime Minister yesterday is the biggest boost to creating a cashless India. We are thrilled that Crores of Freecharge customers will be able to continue paying conveniently and securely for all their utilities and at leading merchants in India. The 12x surge we have witnessed is unprecedented and clearly driven by this big announcement,”
Key Announcements and Facts :
This is an amazing call to those who are saying that last night’s event is drastic and must not have been done. To recall last night’s event, PM Modi announced last night at 8PM sharp that from midnight all the currency notes holding the value of 500 and 1000 would be useless and could be exchanged with your bank till 30th December 2016 with a proper ID proof say Aadhaar Card. This move was taken by PM Modi to curb “Black Money” holders and take the maximum of the Black money out of the nation in one sweep. New notes are getting filled in the ATM Machines and by tomorrow i.e 10th November 2016 people would be able to deposit old notes in their respective banks and savor the new one.
A big salute to our Honorable Prime minister for taking such a huge step towards shedding Black Money out of the nation.
Ps: Happy Winters Black Money Holders! You’re having a lot of stuff to burn this year.