<h1>Digital Payments Surpass Rs 12,000 Lakh Crore, Boost Financial Inclusion and Support MSMEs</h1> Over the past six financial years, digital payment transactions in India have exceeded 65,000 crore, totaling over Rs. 12,000 lakh crore. The government, in collaboration with the central bank and other stakeholders, has promoted digital payment adoption, especially in tier-2 and tier-3 cities, through initiatives like the Payments Infrastructure Development Fund, which has established approximately 4.77 crore digital touchpoints. The Reserve Bank of India's Digital Payments Index, measuring digitization growth, reached 465.33 as of September 2024. Support measures for small businesses and MSMEs include incentives for low-value transactions, trade receivables discounting guidelines, and rationalized merchant discount rates. Digital payments have enhanced financial inclusion by providing alternative credit data, enabling broader access to formal credit and reducing cash dependency, thereby integrating more individuals and businesses into the formal financial system.