Digital payment revolution unfolding in India attracts global attention: Government
- IBEF
- June 11, 2025
India’s digital payment revolution is drawing global attention, as highlighted in a government document released to mark 11 years of the National Democratic Alliance (NDA) government led by Prime Minister Mr. Narendra Modi. The document notes that India’s Unified Payment Interface (UPI) has been integrated with several international systems, with UPI transactions in March 2025 alone amounting to approximately Rs. 24,77,000 crore (US$ 289.50 billion) across 1,830.15 crore transactions. The platform currently serves around 460 million individuals and 65 million merchants, with nearly 50% of all transactions falling into the small or micropayment category, reflecting widespread grassroots adoption.
The government also spotlighted the successful implementation of Direct Benefit Transfer (DBT) and Aadhaar-based authentication across welfare schemes. This technological integration has eliminated lakhs of ghost beneficiaries, ensured timely benefit distribution, and resulted in substantial public savings. From 2015 to March 2023, more than Rs. 3,48,000 crore (US$ 40.67 billion) has been saved through DBT. Over the past 11 years, fundamental services such as bank accounts and insurance coverage have expanded significantly—55.22 crore Jan Dhan accounts were opened, and 51 crore citizens enrolled under the Pradhan Mantri Suraksha Bima Yojana.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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