MoS Finance Anurag Thakur was responding to a query whether currency notes in circulation increased post-demonetisation.
SFBs have made good progress on deposit mobilisation.
RBI has also proposed that FASTags would be enabled to pay for parking fee and even at fuel stations.
India has still a long way to go with more than 85 per cent payment transactions in the country still taking place in cash.
Since demonetisation, the growth in Revenue per Available Room (RevPAR) had dropped from 5.5 per cent in 2016 to 1.9 per cent in 2018.
Former PM Manmohan Singh said the last quarter GDP growth rate of 5 per cent signals that 'we are in midst of a prolonged slowdown'.
Finance Minister said in the last quarter, there could have been a fall and steps have been taken to improve the economy.
Notes in circulation as on Nov 4, 2016 were Rs 17,74,187 cr, which have now increased to Rs 21,71,385 cr as on May 31, 2019.
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