January 28, 2025 12:23 PM

India sees 100-fold jump in retail digital payments over 12 years: RBI

Retail digital payments in India have grown from 162 crore transactions in the financial year 2012-13 to over 16,416 crore transactions in the financial year 2023-24 — an approximately 100-fold increase over 12 years, according to a new RBI report. The remarkable growth in payment infrastructure and performance is also reflected in the Digital Payment Index published by the RBI, which has seen more than a four-fold rise in the last six years (445.50 for March 2024, with a base of 100 as of Ma...