<h1>India's 2023 Financial Reforms Boost Digital Payments, Cut NPAs, and Expand Banking Access Through Key Initiatives.</h1> The Department of Financial Services (DFS) in India has implemented significant reforms in 2023, focusing on financial inclusion, digital transformation, and reducing Non-Performing Assets (NPAs). The EASE Reforms have enhanced public sector banks' capabilities, leading to a reduction in gross NPAs from Rs. 9.33 trillion in 2019 to Rs. 5.71 trillion in 2023. Digital payments have surged, with BHIM-UPI facilitating over 1,000 crore transactions in August 2023 alone. Financial inclusion initiatives like the Pradhan Mantri Jan Dhan Yojana and MUDRA have expanded access to banking and credit, while agricultural credit disbursement reached Rs. 21.55 trillion in 2022-23.