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NITI Aayog and Mastercard release report on creating roadmap for a digitally-inclusive nation
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India is seeing an increasing digitization of financial services, with consumers shifting from cash to cards, wallets, apps, and UPI, Niti Aayog Vice-Chairman Rajiv Kumar said on Monday. While releasing a report Connected Commerce: Creating a Roadmap for a Digitally Inclusive Bharat prepared jointly by Niti Aayog and Mastercard , Kumar said this report looks at some key sectors and areas that need digital disruptions to bring financial services to everyone. Technology has been transformational, providing greater and easier access to financial services. India is seeing an increasing digitization of financial services, with consumers shifting from cash to cards, wallets, apps, and UPI, he said.
Indian consumer shifting to digital financial services: Niti Aayog Vice-Chairman Rajiv Kumar
PTI India is seeing an increasing digitization of financial services, with consumers shifting from cash to cards, wallets, apps, and UPI, Niti Aayog Vice-Chairman Rajiv Kumar said on Monday.
While releasing a report Connected Commerce: Creating a Roadmap for a Digitally Inclusive Bharat prepared jointly by Niti Aayog and Mastercard , Kumar said this report looks at some key sectors and areas that need digital disruptions to bring financial services to everyone. Technology has been transformational, providing greater and easier access to financial services. India is seeing an increasing digitization of financial services, with consumers shifting from cash to cards, wallets, apps, and UPI, he said.
76% growth in digital payments in India in last 12 months
By IANS |
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. Online payment. (File Photo: IANS). Image Source: IANS News
Bengaluru, April 12 : Online transactions saw a healthy growth of 76 per cent in the first quarter of 2021 as compared to 2020, as tier 2 and 3 cities and towns continued to contribute over 50 per cent of all online transactions, a new report said on Monday.
After seeing a steep decline in 2020 owing to the pandemic, travel industry grew by 50 per cent while real estate was up by 69 per cent in the first three months of this year.
As tourism opened up, Jammu and Kashmir made it to the top 10 Digitally Inclusive States/Union Territories for the first time, with a growth of 36 per cent in online transactions in the January-March period, ranking above Uttar Pradesh, Madhya Pradesh and Haryana, according to data provided by full-stack financial solutions company Razorpay in its The Era of Rising Fintech report.
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