It’s been three months and the execution process of demonetization is slowly settling down. From November 2016, cashless India has experienced notable amount of transaction through plastic money. Money transfers using mobile banking and immediate payment system (IMPS)–wherein money is transferred instantly using text messaging or online banking–showed the highest spike in over 12 months, ending October 2016. An India Spend analysis of Reserve Bank of India (RBI) data clarifies the situation. Mobile banking transactions grew…