Payments System Indicator

UPI payments records an all-time high in terms of volume of transactions in June 2020.

Note: Published monthly by the Reserve Bank of India(RBI). Updated to the month of May 2020. UPI data has been updated till July 2020 (Published on July 5, 2020).

Note: With effect from November 2019, payment and settlement system statistics by RBI includes more granular data along with revision in data definitions. Therefore,the data for November 2019 for card payments (Debit/Credit cards) and Prepaid Payment Instruments (PPIs) may not be comparable with earlier months/ periods.

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