Total digital payments value (annual)

Verified

Before (baseline)

1,337lakh crore INR

as of 2014-03-31

Now (latest)

2,498lakh crore INR

as of 2024-03-31

Change

×1.9

Context & shortfalls

Covers all RBI-tracked digital payment channels: NEFT, RTGS, IMPS, UPI, debit/credit cards, mobile banking. Total digital transactions by volume grew from 976 crore in FY2014 to 18,737 crore in FY2024 — a ×19 increase. UPI alone now accounts for >50% of all digital transaction volume. Cash-to-GDP ratio declined from ~12% in 2016 to ~9% by 2024, though demonetisation (2016) disrupts comparisons.

Source

Reserve Bank of India — Payment System Indicators

https://www.rbi.org.in/Scripts/NEFTView.aspx ↗

Data as of 2024-03-31. Large national figures change frequently — verify at source before citing.