On Tuesday, Dr. Bhagwat Kisanrao Karad, Union Minister of State for Finance, while replying to a question in Rajya Sabha on status of digital transactions in the country, stated that there has been a significant growth of 88% in the volume of digital transactions in the country in the last 3 years.
Dr. Karad further added that data shows Unified Payments Interface (UPI), which country’s own payment platform, was the popular choice for digital payments in FY2020-21, with more than 22 billion transactions – a growth of nearly 4 times since 2018-19.
To further give impetus to this trend, the RuPay debit cards is being issued to Jan-Dhan account holders as part of Pradhan Mantri Jan-Dhan Yojana.
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