Quick Summary
Indian digital payment landscape witnesses over 65,000 crore digital transactions amounting to more than Rs. 12,000 lakh crore in last 6 Financial years The growing adoption of digital payments has revolutionized access to financial services, particularly for underserved and unserved communities The Government has been closely working with different stakeholders including the Reserve Bank of India (RBI), National Payments Corporation of India (NPCI), fintechs, banks and State Governments to in
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FAQ :
Over the last six financial years (FY 2019-20 to FY 2024-25), India recorded digital transactions amounting to more than Rs 12,000 lakh crore.
More than 65,000 crore digital transactions have occurred across India in the last six financial years.
The RBI-DPI is an index developed by the Reserve Bank of India to measure the extent of digitisation of payments across the country. It is published semi-annually with March 2018 as the base period.
The PIDF was set up by the RBI in 2021 to encourage the deployment of digital payments acceptance infrastructure in tier-3 to 6 cities, North-Eastern States, and Jammu & Kashmir.
Initiatives like incentive schemes for BHIM-UPI transactions, Trade Receivables Discounting System (TReDS) guidelines, and rationalisation of Merchant Discount Rate (MDR) are helping small businesses and MSMEs adopt digital payment systems to expand their customer base and improve efficiency.
Digital payments enable seamless, traceable transactions, creating a financial footprint for individuals and businesses. This footprint serves as alternative data for financial institutions, allowing them to assess creditworthiness and enabling more people to access formal credit channels.
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