Retail e-payment transactions jump 95% in FY19: RBI report

Driven by efforts aimed at “higher financial inclusion and adoption of mobile payments”, India posted an accelerated growth rate of 95 per cent in the volume of retail electronic payment transactions in 2018-19, a Reserve Bank of India report said. Earlier, the growth rates were 71 per cent in 2015-16, 65 per cent in 2016-17 and 51 per cent in 2017-18. The high growth in FY19 was largely due to steep growth in Unified Payments Interface (UPI)....
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