Five must-read stories—December 22    

Volume up but value of card transactions falls to 9-month low

Since demonetisation was announced on November 8, though most banks have reported an increase in the number of transactions involving swipe-cards , there has been a sharp decline in the total value of these transactions. Reflecting a dip in consumption, the use of debit and credit cards at point of sale (PoS) terminals fell to a nine-month low in value terms in November, reports The Indian Express.

Cashless economy faultlines: Tribal Areas have low literacy, cellphone use, few ATMs

There's a gulf between Prime Minister Narendra Modi’s vision of a “cashless” economy and the reality in India’s most disadvantaged areas. Of the 28 tribals IndiaSpend met in Madhya Pradesh, all but two had a bank account (92.8%), 17 had a personal cell phone and knew how to use it (60.7), six owned an ATM card and knew how to use it (21.4%), and two knew about the internet (7.1%).

Speculation that bypassed Lt Gen Bakshi may resign

The chief of the army's Eastern Command, Lt General Praveen Bakshi, today met defence minister Manohar Parrikar and the army chief, General Dalbir Singh Suhag, amid speculation over his fate after being overlooked as General Suhag's successor, reports The Telegraph.

How private companies are using Aadhaar and gathering more information on you

As private sector companies incorporate Aadhaar into their systems, fresh questions and concerns are emerging about what this means, says Scroll.in. Private companies are not just running a query on the Aadhaar database to verify the name and number, it is also downloading other information about the customer held on the server, like address, date of birth and gender.

Number of IITians bagging ₹1 crore-plus salary shrinks by half

The ‘crorepati club’ at the Indian Institutes of Technology has shrunk to its smallest size in three years, with the number of students bagging ₹1 crore plus compensation packages in the final placements plunging to less than half of that in 2014, reports The Economic Times.