India

The reports at first seem striking: India's abrupt recall of its larger cash notes has caused a dramatic uptake in mobile payments, likely spurred by staggering lines at bank branches and ATMs.

Australia should follow India’s lead and scrap its biggest bank notes, UBS Group AG said.

Cash may no longer be king in India. The nation’s nascent digital economy stands to be the biggest beneficiary of its strongest crackdown on corruption since 1978.