Fintech driving growth for MSMEs and merchants, says FM Sitharaman

May 27, 2025 4:39 PM

Fintech driving growth for MSMEs and merchants, says FM Sitharaman

Union Finance Minister Nirmala Sitharaman on Tuesday said that India’s fintech companies are playing a crucial role in expanding the country’s Digital Public Infrastructure (DPI) and empowering merchants as well as micro, small, and medium enterprises (MSMEs). The Finance Minister visited the office of Pine Labs, a digital fintech company based in Noida, and interacted with its employees and staff members. She acknowledged “India’s fintech firms’ contribution to expanding the country...

UPI’s share in India’s digital payments surged to 83%: RBI report

January 28, 2025 12:41 PM

UPI’s share in India’s digital payments surged to 83%: RBI report

The share of the Unified Payments Interface (UPI) in India’s digital payments has surged from 34 per cent in 2019 to an impressive 83 per cent in 2024, with a remarkable compound annual growth rate (CAGR) of 74 per cent over the last five years, according to the RBI’s payment system report. In contrast, the share of other payment systems like RTGS, NEFT, IMPS, credit cards, debit cards, etc., in digital payments volume declined from 66 per cent to 17 per cent during the same period, the rep...