The ratio of currency in circulation as a proportion of GDP rises to 14.5% for 2020-21
RBI needs to monitor the new system and tweak it if the need arises.
E-Rupi Benefits: Users of this one-time payment mechanism will be able to redeem the voucher without a card, digital payments app or internet banking
'Pay to contacts' displays the UPI id associated with the selected contact, irrespective of the UPI app used by the receiver
PhonePe's dynamic QR code solution will enable customers to pay digitally through any UPI app at the time of delivery.
RBI’s concerns go beyond the realms of customer focus and efficiency gains. It has flagged issues of cybersecurity, data privacy, etc.
New-age companies are well-positioned to tap into underpenetrated segments like insurance, mutual funds, and capital market.
Axis Bank is witnessing a 10x jump in overall spends by gross merchandise value (GMV)
With more than 2 million apps on the platform, Google Play is one of the biggest digital distribution services across the globe
Around Rs 60,000 crore of premium collections is done via digital mode and sees around 8 crore digital transactions