UPI transactions grew from 1 lakh crore in FY 2017-18 to 139 lakh crore in FY 2022-23 in value, at a CAGR of 168%

UPI transactions grew from 1 lakh crore in FY 2017-18 to 139 lakh crore in FY 2022-23 in value, at a CAGR of 168% https://www.taxtmi.com/news?id=27076 UPI is the principal driver of digital payments, showing rapid growth in volume and value while banknote circulation growth declined. Government and RBI measures-such as incentive schemes for card and P2M acceptance, advisories to improve acceptance infrastructure, bank transaction and merchant targets, rural digital literacy programmes, RBI awareness campaigns, and the regulatory permission for linking of RuPay credit cards to UPI-are presented as steps to expand acceptance, consumer convenience and the digital payments footprint. en-us Mon, 18 Dec 2023 17:48:31 +0530 Mon, 18 Dec 2023 17:48:31 +0530 TaxTMI RSS Generator UPI transactions grew from 1 lakh crore in FY 2017-18 to 139 lakh crore in FY 2022-23 in value, at a CAGR of 168% https://www.taxtmi.com/news?id=27076 UPI is the principal driver of digital payments, showing rapid growth in volume and value while banknote circulation growth declined. Government and RBI measures-such as incentive schemes for card and P2M acceptance, advisories to improve acceptance infrastructure, bank transaction and merchant targets, rural digital literacy programmes, RBI awareness campaigns, and the regulatory permission for linking of RuPay credit cards to UPI-are presented as steps to expand acceptance, consumer convenience and the digital payments footprint. News - Mon, 18 Dec 2023 17:48:31 +0530 https://www.taxtmi.com/news?id=27076