India's Digital Payment Transactions Surge by 46% from FY 2021-22 to FY 2023-24
| Summary/Static | Details |
|---|---|
| Why in the news? | Digital Payment Transactions Grow by 46% from FY 2021-22 to FY 2023-24 |
| Total Digital Payment Growth (FY 2021-22 to FY 2023-24) | 46% CAGR (8,839 crore → 18,737 crore transactions) |
| UPI Transaction Growth | 69% CAGR (4,597 crore → 13,116 crore transactions) |
| UPI Share in Total Digital Transactions (FY 2023-24) | 70% |
| Banks Offering Digital Payments (UPI, RuPay, etc.) | 216 (FY 2021-22) → 572 (FY 2023-24) |
| Key Drivers | UPI growth, QR codes, POS terminals, TPAPs, DIGIDHAN Mission |
| Government Initiatives | Incentive Scheme for Banks (ISB), Digital Payment Awareness |