Digital Transactions

Friday, Apr 19, 2024 | Last Update : 09:38 PM IST

Digital transactions worth Rs 20k cr seen daily in India: PM Modi

Modi said small online payments are helping build a big digital economy and many new fintech start-ups are coming up

24 Apr 2022 1:55 PM

Prime Minister Narendra Modi. (PTI Photo)

Digital transactions in India jumped 19 times in last 7 yrs: PM Modi

Earlier today, PM Modi launched two innovative customer-centric initiatives of the Reserve Bank of India

12 Nov 2021 1:13 PM

AePS has become instrumental in driving the financial inclusion program in India. (Photo: Pexels)

Digital transactions cross 200 mn milestone on NPCI platform in July

A total of 6.65 crore Indian citizens availed banking services through AePS platform in July, it said.

12 Aug 2019 3:23 PM

NEFT operated by the RBI as a retail payment system is available for customers from 8 am to 7 pm on all working days.

RBI to allow round-the-clock fund transfers under NEFT from December

RBI had said that it will make available the NEFT system on a 24x7 basis from December 2019.

07 Aug 2019 1:46 PM

The operational payments banks showed net losses of Rs 516.5 crore for FY18, while ‘Paytm’ PB has declared a profit of Rs 19 crore in FY19. (Photo: ANI)

Payments banks fall by the way on tight regulatory requirements

According to Soumya Kanti Ghosh, Group Chief Economic Advisor, State Bank of India, the future is "uncertain" for payments banks.

23 Jul 2019 1:04 AM

Electronics and Information Technology Minister Ravi Shankar Prasad said that the target for digital transactions for 2018-19 was set at 3,013 crore, and the total digital payments registered were 3,133.58 crore. (Photo: Representational | Pexels)

Over 3,133 cr digital transactions in FY19, positive trend for ongoing fiscal: Prasad

The government has set a target of over 4,000 crore digital transactions in the ongoing financial year.

10 Jul 2019 8:35 PM

Growth of digital transactions in terms of value has increased to 188.07 lakh crore in September 2018 from 112.27 lakh crore in November 2016.

Currency in circulation rises 22 pc in May over pre-demonetisation level

Notes in circulation as on Nov 4, 2016 were Rs 17,74,187 cr, which have now increased to Rs 21,71,385 cr as on May 31, 2019.

25 Jun 2019 7:16 PM

Credit and debit cards also would continue to grow, though at a slower pace. Their share would move up from 7% to 12% in 2020 and 21% by 2025.

Cash to lose out to digital by 2022

48 per cent who transact digitally prefer to do so because of the various offers.

22 Mar 2019 6:30 AM

The pace of opening new bank branches has come down since the last two-three years thanks to the rise in digital transactions. (Photo: PTI)

'New branch opening pace has come down owing to digital transactions'

The presence of branches is still important, but it is not as important as it was two-three years back, he said.

12 Oct 2018 6:50 PM

Prime Minister Narendra Modi launched a payments bank on Saturday to turn postmen into bankers so they can offer financial services to the poor in rural areas and boost digital transactions. (Photo: PTI)

Postmen to turn bankers with Modi's new payments bank

Modi has sought to end what he has called “financial untouchability” by giving millions of people access to banking services in India.

02 Sep 2018 12:42 PM

Under this customers will be able to pay through credit or debit cards, Bharat QR, Unified Payments Interface (UPI) and SBI Buddy (e-wallet) at a Point of Sale (PoS) terminal.

SBI launches unified payment terminal- MOPAD

MOPAD will help merchants to integrate different kinds of transactions through one PoS machine.

09 Aug 2018 11:27 AM

States to test GST cashback for payments via Rupay, BHIM app

Customers making payments using Rupay card and BHIM UPI, would get a cashback of 20 per cent of the total GST amount.

04 Aug 2018 5:23 PM

Budget 2018: Encourage housing, retirement savings, digital transactions

Government is widely expected to increase spending to ensure growth recaptures momentum.

30 Jan 2018 1:16 PM

The debit and credit card transactions have jumped to Rs 74,090 crore in September this year, up a hefty 84 per cent as compared to the same month last year. (File Photo)

Card transactions surge 84 per cent in Sep on govt's non-cash payment push

The push to increase cards usage started with the Prime Minister Jan Dhan Yojana in August 2014, the survey said.

19 Nov 2017 10:43 AM

Demonetisation led to 58 per cent growth in digital transactions and an increase in the number of tax payers, Union minister Nitin Gadkari said on Wednesday.

Note ban led to 58 per cent rise in digital transactions: Nitin Gadkari

The Centre's scrapping of the old Rs 500 and Rs 1,000 currency notes hurt those who had black money, said Gadkari.

08 Nov 2017 4:23 PM

Union minister Smriti Irani on Wednesday flagged off a 'digital rath' as part of an initiative to spread awareness about digital payments. (Photo: Twitter| All India Radio)

Digital Rath to spread awareness on cashless payments

The Digital Rath is aimed at driving behavioural change and spreading awareness on the importance of digital payments.

08 Nov 2017 3:27 PM

Digital transactions in October shot up to 965 million transactions, the highest ever so far. (Photo: Pexels)

Digital payments, highest in October! Here are 5 ways to go 'cashless'

Digital transactions have garnered massive support from the government which has campaigned for shifting to a 'cashless economy'.

08 Nov 2017 1:32 PM

The Prime Minister also spoke of the government’s efforts at ensuring that every rupee from the Centre was used for the welfare of Indians and that it reached the intended beneficiary without any scope for leakage. (Photo: PTI/File)

Who reduced Rs 1 to 15 paise: Modi takes swipe at Congress over corruption

PM said digitisation was aimed at bringing in accountability and added that more cash would bring with it social evils.

29 Oct 2017 5:05 PM

Finance Minister Arun Jaitley. (Photo: PTI)

Note ban was a shake-up, achieved its main objectives: Jaitley

Jaitley said note ban helped reduce the reliance on cash, particularly high denomination currency.

23 Sep 2017 3:38 PM

Kotak Mahindra Bank on Sunday said customers can now open zero balance 811 account through multiple digital platforms.

Kotak 811 account offers 6 per cent interest on savings, book from anywhere

The name 811 is inspired by November 8, 2016, the day decision of demonetisation was announced by Prime Minister Narendra Modi.

20 Aug 2017 6:16 PM

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Mohan Guruswamy

digital transactions