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In November 2016, the Indian government abruptly cancelled 86% of the currency in circulation in an attempt to crack down on the shadow economy, and began a major push towards digital payments.

More than two years and a lot of pain later, how has the situation changed? Online payments and digital wallets are widely used in urban hubs, but the story in smaller towns and rural India is quite different. Internet penetration and financial literacy remain low and cash transactions still remain hugely popular.

We speak to the founder of one of India's most popular digital wallets and a professor of economics, and we hear from an activist working to expand digital financial literacy in rural India.

We ask them whether cash is still king, or is it on its way out?

Presenter: Rahul Tandon Contributors: Upasana Taku, co-founder, Mobikwik; Anisha Sharma, Assistant professor of Economics, Ashoka University; Shahid Siddiqui, Deputy General Manager, Digital Empowerment Foundation