Previously unaccounted-for wealth, or black money, in India is gradually coming into the formal system post-demonetisation as evident from the increased flow of funds into areas like insurance, mutual funds and stock public offers, Finance Minister Arun Jaitley said on Friday.He said that the process of digitisation that has picked up pace post last November's demonetisation of high-value currency is going to change the way that "India spends its money"."Today India is passing through a changing process where a much faster formalisation of the economy is taking place," Jaitley said here while launching the country's first integrated lifestyle and banking digital platform - YONO - created by state-run State Bank of India's (SBI)."This formalisation of the economy can be seen in the increase in money coming into insurance, into mutual funds, into IPOs (initial public offers)," he said."Each of these is a major step in the replacement of a cash domnated economy with a more digitised one," he added, referring to YONO, the acronym for 'You Only Need One', which will be the first digital banking platform to offer customised products and offers from over 60 e-commerce players by leveraging analytics, besides a range of banking and financial services.To provide the customised offers and discounts, SBI has partnered with e-commerce players including Amazon, Uber, Ola, Myntra, Jabong, Shoppers Stop, Cox & Kings, Thomas Cook, Yatra, Airbnb, Swiggy and Byjus.The SBI said the product employs the latest digital technologies such as artificial intelligence, predictive analytics and machine learning, and can be accessed through a mobile application and web portal.