80% of India's digital payments are now made through UPI, with a 90-fold increase in digital payments in the last 12 years.

80% of India's digital payments are now made through UPI, according to RBI Governor Shaktikanta Das. The country has seen a 90-fold increase in digital payments in the last 12 years, accounting for 46% of the world's digital transactions. UPI transactions have become the biggest contributor to digital payment growth in India, with over 11,761 crore transactions in 2023, up from 43 crore in 2017. The Reserve Bank of India's Digital Payment Index has witnessed a four-fold rise in the last five years.

March 04, 2024
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