The number of digital transactions in India has quadrupled since Prime Minister Narendra Modi pulled nearly 90% of banknotes from circulation last year.
It's welcome news to Modi's government who are on a mission to reduce India's reliance on cash in order to crack down on corruption.
The results have been mixed for every day consumers, but one thing is clear – the historic shake-up has left India's digital economy booming.
Electronic payment companies in India have experienced a huge growth since the demonetization.
E-commerce company, Paytm jumped more than 400 percent in the hours after that cash crunch.
In just 8 months, Paytm managed to sign up more than 220 million people. Paytm CFO Madhur Deora said his company has seen remarkable success post-demonetization.
"Just before demonetization in November 2016, we had 700-thousand merchants. Post-demonetization, we upped it and then we started signing up to 40-50 thousand merchants every day," Deora said.