Lok Sabha Question No. 3299 (UNSTARRED), answered on 2024-12-16
Subject: Digital Transaction Interface Platforms
Ministry: FINANCE
Asked by: Shri Anil Yeshwant Desai

## GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES

## LOK SABHA UNSTARRED QUESTION NO. 3299

ANSWERED ON MONDAY, DECEMBER 16, 2024/AGRAHAYANA 25, 1946 (SAKA)

## DIGITAL TRANSACTION INTERFACE PLATFORMS

## 3299. Shri Anil Yeshwant Desai:

- Will the Minister of FINANCE be pleased to state: (a) whether it is a fact that the number of transactions in the country has increased to manifold during the last three years; (b) the number of interface platforms available to the customers and the number of transactions
- during the last three year; and
- (c) whether other countries are also using these modes of payments and if so, the details thereof along with the financial benefits received by the Government authorities?

## Answer

## MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI PANKAJ CHAUDHARY)

(a)  & (b) The Digital payment transactions have significantly increased in last few years. The mode-wise details of digital payments transactions during the last three financial years is attached

- as Annexure-I.
- (c) The Government and Reserve Bank of India (RBI) have been taking up various initiatives to expand the global reach of Unified Payments Interface (UPI) and the RuPay Card network. These efforts include interlinking the fast payment systems on intra-operable basis as well as provisioning of  payments  acceptance  infrastructure  in  other  countries.  Presently,  UPI  is  live  in  7  countries (UAE, Nepal, Bhutan, Singapore, Mauritius, France, and Sri Lanka), and RuPay Cards acceptance is live in 6 countries (Nepal, Bhutan, Singapore, UAE, Mauritius, and Maldives). Such facility will not only enable real-time and cost effective cross-border payments but also benefit Indian tourists and students to make seamless payments abroad.

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Annexure-I

| Digital Payments              | FY 2023-24    | FY 2023-24      | FY 2022-23    | FY 2022-23      | FY 2021-22    | FY 2021-22      |
|-------------------------------|---------------|-----------------|---------------|-----------------|---------------|-----------------|
| Digital Payments              | Volume (lakh) | Value (₹ crore) | Volume (lakh) | Value (₹ crore) | Volume (lakh) | Value (₹ crore) |
| Credit Transfers - RTGS       | 2,700         | 17,08,86,670    | 2,426         | 14,99,46,286    | 2,078         | 12,86,57,516    |
| AePS (Fund Transfers)         | 4             | 261             | 6             | 356             | 10            | 575             |
| APBS                          | 25,888        | 3,90,743        | 17,834        | 2,47,535        | 12,573        | 1,33,345        |
| IMPS                          | 60,053        | 64,95,652       | 56,533        | 55,85,441       | 46,625        | 41,71,037       |
| NACH                          | 32,653        | 32,03,873       | 32,760        | 28,22,034       | 29,513        | 23,08,326       |
| NEFT                          | 72,640        | 3,91,36,014     | 52,847        | 3,37,19,541     | 40,407        | 2,87,25,463     |
| UPI+USSD                      | 13,11,295     | 1,99,95,086     | 8,37,144      | 1,39,14,932     | 4,59,561      | 84,15,900       |
| BHIM Aadhaar Pay              | 194           | 6,112           | 214           | 6,791           | 228           | 6,113           |
| NETC (linked to bank account) | 1,629         | 2,777           | 1,626         | 2,601           | 1,207         | 1,689           |
| Credit Cards                  | 35,610        | 18,31,134       | 29,145        | 14,32,255       | 22,399        | 9,71,638        |
| Debit Cards                   | 22,860        | 5,92,429        | 34,179        | 7,19,989        | 39,384        | 7,30,213        |
| Prepaid Payment Instruments   | 78,775        | 2,83,048        | 74,667        | 2,87,111        | 65,783        | 2,79,416        |
| Total                         | 16,44,302     | 24,28,23,799    | 11,39,382     | 20,86,84,872    | 7,19,768      | 17,44,01,233    |