Numerous measures have been proposed in budget 2020 to promote digital payments further

More than three thousand one hundred crore rupees digital payment transaction took place in the current financial year so far. Finance Ministry said numerous measures have been proposed in the budget 2019-20 to promote digital payments further.

Nearly 11 lakh BHIM Aadhar Pay point of sale devices are in India. The government has taken several initiatives in the recent past for the promotion of digital payment and less cash economy. Over the past three years, digital payment transactions have registered tremendous growth in India.

Presently there are more than 52 lakh physical or mobile point of sale (PoS) devices in the country. The number of monthly BHIM - UPI transactions have increased from over seven thousand 500 lakhs in June last year to over 13 thousand lakhs till December last year.

The digital transaction has brought transparency, significantly reduced corruption and improved public service delivery to benefit the poor. (AIR NEWS)

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