Summary:

In six years, India's digital payments ecosystem has seen remarkable growth, with over 65,000 crore transactions valued Rs. 12,000 lakh crore (US$138.26 trillion). The government, in partnership with the RBI, NPCI, fintechs, and banks, encouraged adoption in tier 2 and tier 3 cities. By May 2025, the RBI's Payments Infrastructure Development Fund (PIDF), which was established in 2021, would have enabled 4.77 crore digital acceptance points in underbanked regions. A new Digital Credit Assessment Model for MSMEs, proposed in the Union Budget 2024-25, became operational on March 6, 2025. PSBs are increasingly assessing creditworthiness using digital footprints. On July 15, 2025, 98,995 MSME loans were approved. India's foreign reserves were $696.7 billion, and the IBA suggested all Saturdays as bank holidays.

Source: IBEF

Disclaimer: The information on this website comes from the India Brand Equity Foundation (IBEF), a reliable source for thorough insights into numerous areas of the Indian economy. While we aim to offer accurate and up-to-date information, the views, opinions, and analyses stated herein are solely those of the authors and contributors and do not necessarily represent IBEF's official stance or position. Readers should check information from credible sources and use their own discretion when relying on content provided on this site. We assume no responsibility or liability for the supplied content, including its accuracy, completeness, and usefulness.