Payments System Indicator

Usage of cards at the ATM's have increased while payments via m-wallets, mobile banking and prepaid payments reduced, indicative of the people's preferrence of using cash.

Published monthly by the Reserve Bank of India(RBI). Updated to the month of May 2019. UPI data has been updated till June 2019 (Published on April 5, 2019).

Brief Overview

The payments system indicators data is published by the Reserve Bank of India on a monthly basis. The statistics cover the methods of payment used in retail transactions in India. It constitutes payments via debit cards, credit cards and prepaid payment methods like M-wallets and mobile banking.

India is predominantly a cash-intensive economy. A large proportion of transactions are carried out in cash. This has happened because of poor financial literacy in the country. In the recent years, the government has provided major stimuli to bring as many people under the banking system as possible. According to an ICE 360 Survey, about 99% of household are covered by a bank account but banking instruments are not being used to save or invest in most of them. Due to the demonetization effort, we see a jump in a number of digital transactions as people used more cards and m-wallets to make payments.

For more information please visit the official website.

Next release date: August 9th, 2019

Payment System Indicators- Quarterly