During 2024-25, total digital payments recorded growth of 34.8 percent and 17.9 per cent in volume and value terms, respectively. Moreover, the success of Unified Payments Interface (UPI) placed India
in a leadership position with a share of 48.5 per cent in global real-time payments by volume said the RBI Annual Report FY25 released on Thursday. UPI accounted for a massive 84 per cent of all retail
digital payment volumes. According to the RBI, UPI handled a staggering Rs 11,761.4 crore transactions during the fiscal year—representing a 59.2% jump in volume over the previous year. The value of these transactions reached Rs 180.24 lakh crore, reflecting a robust 44.8% growth year-on-year.
Digital modes now make up nearly the entire non-cash retail payment ecosystem. The share of digital transactions rose slightly to 99.9 percent in FY25, from 99.8 per cent in the previous year.
The RBI said that the value of central bank digital currency or E-rupee in circulation increased by 334 per cent on-year to Rs 1,016 crore in FY25, according to the RBI.