Digital Payments Grow Big in India, UPI Handles Most of It: RBI Report

Digital payments in India grew by almost 35% in the financial year 2024–25, says a new report by the Reserve Bank of India (RBI). The biggest reason for this growth is the use of UPI (Unified Payments Interface), which was used for 84% of all digital retail transactions in the country.

In just one year, people in India made over 11,761 crore digital payments through UPI, which added up to ₹180 lakh crore in total money transferred. Compared to last year, this is nearly 60% more in number of payments and 45% more in value.

More people are using UPI because it is fast, free, and easy to use on mobile phones. With better internet and more smartphones, even people in small towns and villages are using it daily for shopping, paying bills, and sending money.

The RBI also said that India now leads the world in real-time digital payments. In fact, almost half of all real-time payments in the world happen in India, thanks to platforms like UPI.

This increase in digital payments shows that more Indians now prefer using mobile apps instead of cash. It also means more people are joining the digital economy, which helps the country grow faster.

With digital systems improving and more awareness being created, this trend is likely to continue, making payments simpler, safer, and quicker for everyone.