Retail payments register 28% jump in June; digital mode sees 23% rise

Retail payments registered a 28 per cent jump in June to Rs30.9 trillion in value terms, compared to Rs24.2 trillion in May, revealed the data released by the Reserve Bank of India in its monthly bulletin.

This is indicative of the fact that payments picked up as the economy was gradually opened up after a stringent lockdown. In April, retail payments plunged to Rs19.6 trillion, but recovered in May. 

Total digital payments in the economy recovered to Rs113.4 trillion in June, compared to Rs92.03 trillion in May, up 23 per cent. Digital payments include retail credit transfers, debit transfers and direct benefits,