> Overall, however, our study strongly suggests that India’s 2016 demonetization, the largest the world has ever seen, effectively stimulated the transition from a cash-based to digitally enabled economy.
You are only addressing 1/6 points mentioned by the OP, most of which is a load of BS. As for the gain in digital transactions, was there no other way to boost them? If the supreme leader comes up with another rule that anyone who uses cash will be shot, the cash-based transactions will reduce to nearly 0. But will it make any sense?
> Overall, however, our study strongly suggests that India’s 2016 demonetization, the largest the world has ever seen, effectively stimulated the transition from a cash-based to digitally enabled economy.
https://www.forbes.com/sites/nusbusinessschool/2018/09/01/in...