UPI transactions value exhibited parallel upward trajectory in 2023: Report
The volume of UPI transactions in H2 2023 to H2 2022 increased by 56 per cent from 42.09 billion to 65.77 billion, the report said.
The volume of UPI transactions in H2 2023 to H2 2022 increased by 56 per cent from 42.09 billion to 65.77 billion, the report said.
In a bold move to revolutionise its digital payments ecosystem, the Reserve Bank of India (RBI) has set its sights on launching an interoperable payment system for internet banking in 2024.
The withdrawal of Rs 2,000 banknotes is likely to be a non-event as India has adopted digital payments on a mass scale, said SBI Research in its latest Ecowrap.
PM Modi said that this year's 'Civil Service Day' is very important as it is a time when the country has completed 75 years of its independence.
Similarly, replying to a Pravasi Bharatiya's tweet on the adoption of digital payments in India, the prime minister tweeted: "It is a common sight across India…our people have shown remarkable dexterity in adapting to tech and innovation."
The rapid expansion of digital infrastructure for over a decade, including the introduction of Aadhaar, and accelerated consumer adoption during the ongoing Covid pandemic had the country reaping benefits on the retail business side.
According to sources, the estimated number of employees laid off by Stripe is between 45 and 55. Reportedly, Stripe bought TaxJar in April 2021.
The Minister stated that the brief details of major Digital India initiatives, inter-alia, are at Annexure.
The index for March 2021 stands at 270.59 as against 207.84 for March 2020, announced while launching the index on January 1, 2021.
The provisions of these directions would apply to the Regulated Entities (REs)-- Scheduled Commercial Banks, Small Finance Banks, Payments Banks; and Credit card issuing NBFCs.