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Digital payments volume in retail India FY 2011-2020

Volume of digital payments in retail in India in financial years 2011, 2016, and 2020

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Source

Release date

January 2021

Region

India

Survey time period

FY 2011, FY 2016 and FY 2020

Supplementary notes

India's financial year begins in April and ends in March. For example, FY 2020 started in April 2019 and ended in March 2020.

Note: RTGS denotes real time gross settlement systems; paper clearing denotes all the paper-based payment systems such as checks and cash; NEFT denotes the national electronic funds transfer system maintained by the Reserve Bank of India; UPI denotes unified payments interface; NACH denotes the national automated clearing house to help bulk and repetitive transactions through banks; IMPS denotes immediate payment services as instant inter-bank transfers.

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