India Records ₹12,000 Lakh Crore in Digital Transactions Over Six Years

India has witnessed a remarkable surge in digital transactions, with more than 65,000 crore such transactions recorded between financial years 2019-20 and 2024-25, amounting to over ₹12,000 lakh crore, the Parliament was informed on Monday.

The government attributed this digital revolution to its sustained collaboration with key stakeholders, including the Reserve Bank of India (RBI), the National Payments Corporation of India (NPCI), fintech companies, banks, and state governments. The joint effort has significantly boosted digital payment adoption across the country.

As part of its broader strategy, the RBI launched the Payments Infrastructure Development Fund (PIDF) in 2021 to incentivise the growth of digital payments infrastructure in underserved regions—particularly Tier 3 to Tier 6 towns, the northeastern states, and Jammu & Kashmir.

According to the government, the initiative has led to the deployment of approximately 4.77 crore digital touch points across these regions as of May 31, 2025. These touch points include devices and platforms that facilitate digital payment acceptance among businesses and consumers.

To monitor the progress of this transformation, the RBI developed the Digital Payments Index (RBI-DPI), a composite index that measures the extent of digital payment penetration and adoption across the country. The latest RBI-DPI reading, as of September 2024, stood at 465.33, indicating robust growth in digital payment infrastructure, usage, and performance nationwide.

Highlighting the social impact of this digital shift, the government noted that platforms like the Unified Payments Interface (UPI) have empowered citizens, particularly small vendors and rural users, by enabling them to accept cashless payments seamlessly. 

The growing digital ecosystem has also enhanced access to formal credit, helping individuals and small businesses participate more actively in the economic mainstream.

ALSO READ: UPI Rises to Top: Beats Visa in Global Transactions Game