JKB Financial Services Ltd.

As on : 29-Jul-2025

Economy - Reports
29-Jul-2025 09:29

India sees over 65,000 cr digital payment transactions amounting to Rs 12,000 lakh cr in last 6 years

India's digital payment landscape witnessed over 65,000 crore transactions amounting to more than Rs 12,000 lakh crore in the past six financial years, the ministry of finance stated on Monday. 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 increase the adoption rates of digital payments in the country including in tier-2 and tier-3 cities. RBI has setup a Payments Infrastructure Development Fund (PIDF) in 2021 to encourage deployment of digital payments acceptance infrastructure in tier-3 to 6 cities, North-Eastern States and Jammu & Kashmir. As on May 31, 2025, around 4.77 Crore digital touch points have been deployed through PIDF, the ministry said. Transactions during the last six financial years, i.e. FY 2019-20 to FY 2024-25 have seen a phenomenal increase.

GET IN TOUCH