Current Affairs - Economy - Discussion

Digital payment transactions in India saw a remarkable growth of 44% in the last fiscal year, reaching ₹18,000 crore. The Unified Payments Interface (UPI) played a crucial role in driving this expansion, alongside significant contributions from IMPS and the National Electronic Toll Collection system. To further boost digital payments, the government allocated ₹3,500 crore for RuPay and BHIM-UPI promotion incentives. Additionally, the RBI’s Payment Infrastructure Fund facilitated the installation of 4.08 crore digital payment touchpoints in remote areas, enhancing financial inclusion and accessibility across the country.