Payments through digital modes are expected to jump to 1.5 billion transactions, worth Rs 15 trillion a day in five years, the Reserve Bank of India (RBI) estimates. The daily transactions average at about 100 million now for a volume of Rs 5 trillion.
Just before the Covid outbreak, the daily transactions were averaging around 125 million a day, which is more than five times the volume digital transactions witnessed in 2016 June, according to P Vasudevan, Chief General Manager for the Department of Payment and Settlement Systems at the RBI. The RBI official was part of a panel on ...
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