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New Delhi, Prime Minister Narendra Modi on Tuesday expressed hope that digital transactions will soon surpass cash with Unified Payments Interface (UPI) increasingly becoming the most preferred payment mechanism in the country. Modi after the launch of the cross-border connectivity between the UPI and PayNow of Singapore said about 74 billion transactions amounting to more than Rs 126 trillion, which is approximately 2 trillion Singapore dollar, was done through UPI in 2022. "Many experts are estimating that very soon India's <keyword id="16596261" type="General" weightage="20" keywordseo="digital-wallet-transactions" source="Orion">digital wallet transactions</keyword> are going to overtake cash transactions," he said. A large number of transactions via UPI demonstrate that this indigenously designed payment system is very secure, he said. Modi along with his Singaporean counterpart Lee Hsien Loong witnessed the launch of cross-border connectivity between the UPI and PayNow of Singapore via video conferencing. The facility was launched through token transactions by Reserve Bank of India Governor Shaktikanta Das and Managing Director of Monetary Authority of Singapore Ravi Menon using the UPI-PayNow linkage. Stressing that the linkage of UPI and PayNow is a new milestone in India-Singapore relations, Modi said, this will help people of both the countries to do cross border transactions through mobile phone in an affordable manner. Singapore is the first country with which cross-border Person-to-Person (P2P) payment facility has been launched, he said, adding, this will help the Indian diaspora in Singapore, especially migrant workers/students and bring the benefits of digitalisation and fintech to the common man through instantaneous and low-cost transfer of money from Singapore to India and vice-versa. Pointing out that the focus of the government is to promote innovation and modernisation, Modi said the Digital India programme of the government has enhanced 'Ease of Living' and 'Ease of Doing Business' and digital connectivity and has pushed financial inclusion. The Digital India programme has brought in significant reforms in governance and public service delivery. The linkage will enable users of the two fast payment systems in either country to make convenient, safe, instant, and cost-effective cross-border fund transfers using their respective mobile apps. Funds held in bank accounts or e-wallets can be transferred to or from India using just the UPI-id, mobile number, or Virtual Payment Address (VPA), the Reserve Bank of India (RBI) said in a statement. To begin with, the statement said State Bank of India, Indian Overseas Bank, Indian Bank and ICICI Bank will facilitate both inward and outward remittances, while Axis Bank and DBS India will facilitate inward remittances. For Singapore users, the service will be made available through DBS-Singapore and Liquid Group (a non-bank financial institution). More banks will be included in the linkage over time. Customers of the above participating banks can undertake cross-border remittances to Singapore using the bank's mobile banking app or internet banking. To begin with, an Indian user can remit up to Rs 60,000 in a day (equivalent to around SGD 1,000). At the time of making the transaction, the system shall dynamically calculate and display the amount in both currencies for the convenience of the user, it said. The UPI-PayNow linkage is the product of extensive collaboration between the RBI, Monetary Authority of Singapore (MAS), and Payment System Operators of both countries viz. NPCI International Payments Limited (NIPL) and Banking Computer Services Pte Ltd (BCS), and participating banks / non-bank financial institutions. This interlinkage aligns with the G20's financial inclusion priorities of driving faster, cheaper and more transparent cross-border payments and will be a significant milestone in the development of infrastructure for cross-border payments between India and Singapore, the statement said. India has emerged as one of the fastest-growing ecosystems for fintech innovation. A key emphasis of the Prime Minister has been on ensuring that the benefits of UPI are not limited to India only but extend to other countries as well. The virtual launch was preceded by a phone call between the two Prime Ministers, wherein discussions were held on areas of mutual interest. Prime Minister Modi thanked Prime Minister Lee for his partnership in taking the India-Singapore relationship forward and looked forward to working with him under India's G20 Presidency.

Digital transactions to soon exceed cash in India: PM Modi

By 2025, <keyword id="6358577" type="UNKNOWN" weightage="20" keywordseo="digital-payments">digital payments</keyword> collectively in India would account for 71.7 per cent of overall payments volume, leaving cash and cheques at 28.3 per cent, said a new report on Wednesday. In 2020, the transaction volume share in India stood at 15.6 per cent and 22.9 per cent for <keyword id="3278781" type="PERSON" weightage="20" keywordseo="instant-payments">instant payments</keyword> and other electronic payments respectively, while paper-based payments had a considerable share of 61.4 per cent, said the report from US-based electronic payments company ACI Worldwide and data analytics and consulting company <keyword id="1670029" type="COMPANY" weightage="20" keywordseo="GlobalData">GlobalData</keyword>. This is poised to change by 2025 share of volume by instant payments and other electronic payments is expected to rise to 37.1 per cent and 34.6 per cent respectively, leaving the volume of paper-based transactions at 28.3 per cent. Furthermore, by 2024 the share of real time payments volume in overall electronic transactions will exceed 50 per cent, according to the report. "India's journey of creating a <keyword id="50691" type="COMPANY" weightage="20" keywordseo="Digital">digital</keyword> financial infrastructure has been characterised by collaboration between the government, the regulator, banks and fintechs," Kaushik Roy, VP and head of product management, Asia, Middle East and Africa, ACI Worldwide, said in a statement. "This has helped to advance the country's goal of enabling financial inclusion and also provided rapid payments digitization for citizens. The <keyword id="43587" type="ORGANIZATION" weightage="20" keywordseo="pandemic">pandemic</keyword> has further accelerated adoption of digital payments with many first time users adopting digital payments and significant uplift by merchants." With millions of people globally having to change the way they work and live -- and the way they shop and pay -- mobile wallet adoption rose to an historic high of 46 per cent in 2020, up from 40.6 percent in 2019 and 18.9 percent in 2018. Countries like Brazil, Mexico and Malaysia where many people historically relied on cash are now some of the fastest adopters of mobile wallets. Globally, more than 70.3 billion real-time payments transactions were processed in 2020, a surge of 41 per cent compared to the previous year, as the Covid-19 pandemic dramatically accelerated trends away from cash and cheques towards greater reliance on real-time and digital payments, said the report. SEE ALSO: <a href="https://www.businessinsider.in/business/news/xiaomi-plans-to-enter-the-electric-vehicle-business-with-an-investment-outlay-of-10-billion/articleshow/81772965.cms">Xiaomi forays into the electric vehicle business with a $10 billion subsidiary</a> <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-is-eyeing-india-startups-as-it-gears-up-for-a-fight-with-asia-richest-man-in-retail/articleshow/81773692.cms">Amazon is eyeing India's startups as it gears up for a fight with Asia's richest man in retail</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-a72-mobile-phone-review/slidelist/81774857.cms">Samsung Galaxy A72 review – a premium mid-range phone in a crowded market</a> <a href="https://www.businessinsider.in/science/environment/news/earth-lost-more-arctic-sea-ice-than-the-area-of-rajasthan-and-madhya-pradesh-combined-in-2021/articleshow/81775537.cms">The planet lost more Arctic sea ice than the area of Rajasthan and Madhya Pradesh combined in 2021</a>

Around 71.7% off all payment transactions in India to be digital by 2025

<ul><li>Indian digital payments company <keyword id="6357120" type="COMPANY" weightage="20" keywordseo="paytm">PayTM</keyword>, just launched an app ‘PayPay’ in <keyword id="6355311" type="UNKNOWN" weightage="20" keywordseo="japan">Japan</keyword> in collaboration with Yahoo Japan and Softbank.</li><li>While Japan’s government has been pushing for more cashless transactions, just 20% of payments currently made in the country are digital. </li><li>The country’s local banks are yet to roll out their own platforms, which gives PayPay an advantage as one of the first digital wallets on the scene. </li></ul>Until now, Japanese brands like Suzuki and Toyota are the ones that have made their way into the Indian market. Bucking that trend is Indian e-commerce website and digital payments company PayTM, which just <a href="https://blog.paytm.com/our-qr-tech-now-powers-japans-qr-based-paypay-1b39ee3884c6">launched</a> in Japan as ‘PayPay’. While Japan is usually a world leader when it comes to <keyword id="6355118" type="UNKNOWN" weightage="20" keywordseo="technology">technology</keyword>, like Bitcoin, only 20% of the <a href="https://www.japantimes.co.jp/news/2018/06/19/business/japan-pushes-use-cashless-payments-olympics-approach-banks-strain/#.W867D_bhXIU">transactions</a> in the country are currently digital according to <keyword id="2340620" type="COMPANY" weightage="20" keywordseo="CyberSource">CyberSource</keyword>. In contrast, <keyword id="2970472" type="PERSON" weightage="20" keywordseo="Digital-transactions">digital transactions</keyword> account for 40-60% of online payments in the US and most of the European countries, according to the <a href="https://www.tsys.com/Assets/TSYS/downloads/rs_2016-us-consumer-payment-study.pdf">US Consumer Payments Study</a>. The Japanese Conundrum PayTM’s foray into Japan has been aided by Softbank and Yahoo Japan, and comes at a time when the Japanese government is pushing for digital payments to take off in the country. With Japan being next in line to host the Olympics, its government has been pushing for people and business models to accommodate digital transactions in order to stimulate more spending during the event. The Japanese Ministry of Economy, Trade and Industry has already put forward a number of proposals, one of which includes increasing the ratio of cashless payments to 80% of all account settlements going forward. PayTM’s entry into the Japanese market may be good news for people, should they choose to switch to digital payments, but banks have a reason to worry. According to <a href="https://www.bloomberg.com/news/articles/2018-04-04/banks-rush-to-turn-japan-cashless-ahead-of-looming-tech-rivals">reports</a>, financial entities in the country have already started working on platforms that use QR-codes and blockchain technology but they’re yet to make their way into the market. It was easier for European economies to switch over to digital wallets because they were already used to using checks to pay, say experts, and in China, QR codes were a necessity in the face of increasing instances of counterfeit currency. But, in Japan, ATMs are easy to find and counterfeit currency isn’t an issue. PayTM is trying to encourage adoption by incentivising users, offering up ¥500 (₹328) in their accounts once they’ve downloaded the app PayPay and authenticated it using their mobile numbers. It is also not charging users or any kind of payment made using a QR-code scan for the next three years. In <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>, PayTM was the first payment app to cross over 100 million downloads in 2017.

After revolutionizing transactions in India, digital payments company PayTM seeks to conquer Japan

Payments made via Unified Payments Interface (UPI) reported a 45% yearly growth, according to data from the National Payment Corporation of <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> (<keyword id="19998946" type="General" weightage="20" keywordseo="NPCI" source="keywords">NPCI</keyword>). The value of transactions also saw a growth of over 35%, totaling Rs 20.64 trillion. This marks the third consecutive month when total transactions exceeded Rs 20 trillion. In June 2024, the total UPI transaction value was Rs 20.07 trillion, while in May it was Rs 20.44 trillion. NPCI data also showed that the average daily transaction value through UPI in July 2024 was Rs 466 million, or about Rs 66,590 crore. Compared with June, the volume of <keyword id="19957378" type="General" weightage="100" keywordseo="UPI-transactions" source="keywords">UPI transactions</keyword> grew by 3.95% in July, while the value of transactions increased by 2.84%. In the first four months of the current fiscal year (2024-25), UPI recorded transactions amounting to Rs 80.79 trillion, across approximately 55.66 billion transactions. In 2023-24, total UPI transactions were 131 billion, compared to 84 billion in 2022-23. The monthly bulletin of the <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> (RBI) reported that over the last four years, UPI transactions have seen a ten-fold increase in volume, from 12.5 billion transactions in 2019-20 to 131 billion transactions in 2023-24, which accounts for 80% of the total digital payment volumes. Unified Payments Interface (UPI) transactions experienced substantial growth, increasing by 57% year-on-year in FY24. Within this segment, PhonePe and Google Pay dominated, holding a combined market share of 86%, according to the Boston Consulting Group's (BCG) Banking Sector Roundup for 2023-24. A shift in <keyword id="19989657" type="General" weightage="20" keywordseo="digital-payments" source="keywords">digital payments</keyword> was noted, with credit card transactions doubling over the past three years. In contrast, debit card transactions declined by 43% year-on-year. By making digital payment platform technology and device agnostic, UPI has contributed to <keyword id="20377974" type="General" weightage="20" keywordseo="financial-inclusion" source="keywords">financial inclusion</keyword> at the grassroots level. Digital payments in India are hitting fresh highs, as citizens increasingly adopt emerging modes of online transactions. One key emphasis of the Indian government has been to ensure that the benefits of UPI are not limited to India alone; other countries, too, can benefit from it. UPI is India's mobile-based fast payment system, which facilitates customers to make round-the-clock payments instantly using a Virtual Payment Address (VPA) created by the customer. The share of UPI in digital payments in India has reached close to 80% in 2023. Today, India accounts for nearly 46% of the world's digital transactions, based on 2022 data.

UPI transactions cross Rs 20 trillion for third successive month, in July 2024

New Delhi [India], March 20 (ANI): Payments through digital means in India are hitting fresh highs, as its citizens are increasingly adopting the emerging modes of transacting on the internet. In February, transactions worth Rs 18.2 lakh crore were made through Unified Payments Interface (<keyword id="19900911" type="General" weightage="20" keywordseo="upi" source="keywords">UPI</keyword>) with a staggering 122 crore number of transactions. The transactions made last month through the popular instant payment mechanism were a tad lower than in January, where the total value of transactions was Rs 18.4 lakh crore. The total number of transactions recorded in the month of January was 121 crore. Data maintained by the <keyword id="19907219" type="General" weightage="20" keywordseo="national-payments-corporation-of-india" source="keywords">National Payments Corporation of India</keyword> (NPCI) showed that an average of Rs 40,000-Rs 80,000 crore worth of UPI transactions are made in India on a daily basis. Coming to NEFT and RTGS, the two other instruments for online payments, the average transactions made through these were an average of Rs 33.85 lakh crore and Rs 146 lakh crore, respectively, data showed. Coming to internet banking and mobile banking, transactions worth Rs 91.24 lakh crore and Rs 28.16 lakh crore, respectively, were made in January 2024. Notably, India today accounts for nearly 46 per cent of the world's digital transactions (as per 2022 data). The share of UPI in digital payments in India has reached close to 80 per cent in 2023, informed <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> (RBI) Governor <keyword id="19913110" type="General" weightage="20" keywordseo="shaktikanta-das" source="keywords">Shaktikanta Das</keyword> earlier this month, as he outlined the growth of the payments ecosystem in the country. The RBI governor had said India has not only navigated through the fast-evolving technological innovations but also played a pivotal role, as a catalyst, in developing one of the most modern payment systems in the world. Retail digital payments in India have grown from 162 crore transactions in the financial year 2012-13 to over 14,726 crore transactions in 2023-24 (till February 2024) -- approximately a 90-fold increase over 12 years. UPI is India's mobile-based fast payment system, which facilitates customers to make round-the-clock payments instantly, using a Virtual Payment Address (<keyword id="20478991" type="General" weightage="20" keywordseo="vpa" source="keywords">VPA</keyword>) created by the customer. The UPI payment system has become hugely popular for retail digital payments in India, and its adoption is increasing at a rapid pace. A key emphasis of the Indian government has been on ensuring that the benefits of UPI are not limited to India only; other countries, too, benefit from it. So far, Sri Lanka, <keyword id="19956313" type="General" weightage="20" keywordseo="mauritius" source="keywords">Mauritius</keyword>, France, UAE, and <keyword id="19895045" type="General" weightage="20" keywordseo="singapore" source="keywords">Singapore</keyword> have partnered with India on emerging fintech and payment solutions. (ANI)

UPI transactions worth ₹18.2 lakh crore made in February 2024

<ul><li><keyword id="6358921" type="General" weightage="80" keywordseo="upi" source="Orion">UPI</keyword> clocked over 19.65 billion transactions in volume and Rs 32.5 lakh crore in terms of value.</li><li>The UPI transactions volume and value almost doubled since last year as it recorded about an 88 per cent increase in Q3.</li><li>The top three UPI apps in terms of volume and value were PhonePe, Google Pay and <keyword id="3236791" type="General" weightage="50" keywordseo="paytm-payments-bank" source="Orion">Paytm Payments Bank</keyword> App.</li></ul> The <keyword id="2736678" type="General" weightage="50" keywordseo="unified-payments-interface" source="Orion">Unified Payments Interface</keyword> (UPI), debit and credit cards, prepaid payment instruments like mobile wallets, and prepaid cards logged 23.06 billion transactions amounting Rs 38.3 lakh crore in the third quarter this year, a new report showed on Monday. At the top, the UPI clocked over 19.65 billion transactions in volume and Rs 32.5 lakh crore in terms of value. The UPI transactions volume and value almost doubled since last year as it recorded about an 88 per cent increase in volume and over 71 per cent increase in value in Q3 as compared to the same quarter last year, according to <keyword id="1925688" type="General" weightage="50" keywordseo="worldline-india" source="Orion">Worldline India</keyword>'s 'Digital Payments Report' for the third quarter. The top three UPI apps in terms of volume and value were PhonePe, Google Pay and Paytm Payments Bank App. The top five remitter Banks were <keyword id="6354731" type="General" weightage="50" keywordseo="state-bank-of-india" source="Orion">State Bank of India</keyword>, <keyword id="6357149" type="General" weightage="50" keywordseo="hdfc-bank" source="Orion">HDFC Bank</keyword>, Bank of Baroda, Union Bank, and ICICI Bank, whereas the top 5 beneficiary banks were Paytm Payments Bank, YES Bank, State Bank of <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>, Axis Bank, and ICICI Bank. UPI person-to-merchant (P2M) and person-to-person (P2P) emerged as the most chosen payment method among consumers, accounting for 42 per cent of total transaction volume. This was followed by credit and debit card payments, which accounted for 7 per cent of volume and 14 per cent of value. "The swift adoption of digital payments can be witnessed with each passing quarter. Popular payment instruments like UPI, cards, PPIs are already clocking over 23 billion transactions in a quarter," said Ramesh Narasimhan, CEO, India, Worldline. Q3 data indicates healthy usage of credit cards and growth in the average ticket size. For credit cards, it is Rs 4,833; for debit cards, it is Rs 2,073; for UPI P2M, it is Rs 738; for UPI, P2P it is 2,576; for prepaid cards, it is 473; and for M-wallet, it is Rs 382. The total transaction between credit cards and debit cards comes to around 65 per cent and the remaining 35 per cent has been shared between UPI P2P, UPI P2M, and prepaid cards, the report showed. As of September 2022, the overall number of POS terminals installed by merchant-acquiring banks had surpassed 7 million. In Q3 2022, POS deployment increased by more than 41 per cent reaching 7.03 million, when compared to the same quarter of the previous year. In the online space, e-commerce (shopping for goods and services), gaming, utility and financial services contributed to over 86 per cent of the transaction in terms of volume and 47 per cent in terms of value. By the end of the third quarter, there were 1.01 billion credit and debit cards in circulation. Credit card volume and value were 725 million and Rs 3.5 lakh crore in Q3 2022, respectively. In the third quarter of 2022, the volume and value of debit card transactions were 907 million and Rs 1.88 lakh crore, respectively, the report said. At least 58.78 million FASTags have been issued till September, with 36 banks. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/kolkata-hyderabad-and-pune-remain-indias-most-affordable-residential-cities-jll/articleshow/96001910.cms">Kolkata, Hyderabad and Pune remain India’s most affordable residential cities: JLL</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/go-after-big-smugglers-sending-mountains-of-illegal-drugs-into-the-country-fm-to-enforcement-agencies/articleshow/96001566.cms">Go after big smugglers sending 'mountains' of illegal drugs into the country: FM to enforcement agencies</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/gadgets/news/upcoming-new-games-in-2023/articleshow/95999256.cms">Top upcoming games in 2023: Here’s what PC, PlayStation, and Xbox users should expect</a>

Digital payments in India touch Rs 38.3 lakh cr at over 23 bn transactions

<ul><li><keyword id="6354731" type="UNKNOWN" weightage="20" keywordseo="state-bank-of-india">State Bank of India</keyword> (<keyword id="13222" type="CITY" weightage="20" keywordseo="SBI">SBI</keyword>) has waived off charges on National Electronic Funds Transfer (<keyword id="285745" type="ORGANIZATION" weightage="20" keywordseo="NEFT">NEFT</keyword>), Real Time Gross Settlement (<keyword id="6356014" type="ORGANIZATION" weightage="20" keywordseo="rtgs">RTGS</keyword>) and Immediate Payment Service (<keyword id="6383205" type="UNKNOWN" weightage="20" keywordseo="imps">IMPS</keyword>) money transfers.</li><li>The waivers will be implemented starting August 2019.</li><li>The bank has over 74 million digital users — including 14 million accessing the mobile <keyword id="6354778" type="ORGANIZATION" weightage="20" keywordseo="Banking">banking</keyword> services.</li></ul>India’s largest public sector bank, State Bank of India (SBI) has waived off charges on National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS) and Immediate Payment Service (IMPS) money transfers. While the charges on NEFT, RTGS were waived off earlier this month, the bank has removed charges imposed on IMPS as well, starting August 2019. This is applicable to internet banking, mobile banking and YONO services. This move will bring cheer to its growing digital customer base. The bank has over 74 million digital users — including 14 million who access mobile banking services. Their customers also perform 18% of the total mobile banking transactions in the country. The waiver in NEFT, IMPS and RTGS charges will attract more customers towards digital transactions, the bank noted. "In sync with our strategy and Government of India’s vision to create a digital economy, SBI has taken this step to promote the use of YONO, internet banking and mobile banking for doing NEFT and RTGS transactions without incurring any cost,” P K Gupta, MD (retail &amp; digital banking) of SBI said. The bank had already reduced NEFT and RTGS charges for customers transacting through branch network by 20% across all slabs. Last month, the Reserve Bank of India(RBI) waived off its own charges for the transactions and directed banks to do the same.

India’s largest bank SBI waives off charges on NEFT, IMPS and RTGS

New Delhi, Nov 20 () Over 2,100 crore digital transactions were carried out in the country this fiscal up to November 13 as compared to 3,134 crore transactions in financial year 2018-19, Parliament was informed on Wednesday.
 Over the years, there has been a significant growth in digital payments in India, growing from 1,004 crore digital transactions in 2016-17 to 2,178 crore transactions in FY2019-20 (till November 13), Minister for Electronics and IT Ravi Shankar Prasad said in a written reply to Lok Sabha.
 "In 2016-17, India has seen 1,004 (1003.67) crore digital transaction which reflects year-on-year increase of 74 per cent. In 2017-18, 2,071 crore digital transactions have been recorded with an y-o-y growth of 106 per cent, against the total target of 2,500 crore," he added.
 Prasad noted that in 2018-19, 3,134 crore digital transactions were recorded, translating into y-o-y increase of 51 per cent.
 In response to a query on the current status of Software Technology Park (STP) scheme and Electronic Hardware Technology Park (EHTP) scheme, Prasad said currently 2,306 units are operating under the STP scheme and 70 units are operating under EHTP scheme.
 "The total exports for year of 2018-19 from STP units is Rs 4.17 lakh crore and from EHTP units is Rs 7,611.38 crore," he added. SR RVK

2,178 crore digital transactions recorded in FY20 till Nov 13: Prasad

Mumbai, Jan 30 () Bank of Maharashtra and State Bank of India are the only two state-run banks that showed 'good' performance in terms of digital transactions in December with a score of 77 and 68 respectively, government data showed.
 The score for an individual bank is given by the Ministry of Electronics and Information Technology (MeitY) on various parameters such as percentage of digital transactions, merchant deployment achieved, system resilience and average percentage of technical decline for UPI or AePS transactions, among others.
 For digital transactions, the government has given a target of 4,000 crore digital transactions for the current fiscal.
 Banks' performance on various parameters, including digital transactions, is tracked on a monthly basis.
 During April to December, Bank of Maharashtra (BoM) achieved 102.70 per cent of the annual target of digital transactions, the latest data released by MeitY showed.
 For BoM, the government has set a target of 19.7 crore digital transactions during the current financial year.
 SBI achieved 99.09 per cent of the annual digital transactions target in the nine months of the current fiscal.
 In December, nine private lenders and two payments banks received good rating on digital transactions.
 Overall score of Yes Bank, Fino Payments Bank and HDFC Bank was 76 in December. ICICI Bank and IDFC First Bank scored 74 and 73, while Axis Bank and IDBI Bank scored 71 each, MeitY data showed. HV ABM
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Digital transactions to soon exceed cash in India: PM Modi

PTI

Around 71.7% off all payment transactions in India to be digital by 2025

IANS

After revolutionizing transactions in India, digital payments company PayTM seeks to conquer Japan

Prabhjote Gill

UPI transactions cross Rs 20 trillion for third successive month, in July 2024

ANI

UPI transactions worth ₹18.2 lakh crore made in February 2024

ANI

Digital payments in India touch Rs 38.3 lakh cr at over 23 bn transactions

IANS

India’s largest bank SBI waives off charges on NEFT, IMPS and RTGS

Prerna Sindwani

2,178 crore digital transactions recorded in FY20 till Nov 13: Prasad

PTI

BoM, SBI only PSBs rated 'good' in digital transactions in Dec: Govt data

PTI

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