Digital payments grew 46% in FY20, beats state-set target: MeitY to banks

Private sector lenders ICICI Bank, HDFC Bank, Yes Bank, IndusInd Bank and payment bank Fino led the pack of Indian lenders enabling the digitisation of payments. India’s digital payments volumes across all channels increased 46% last fiscal year, with banks recording a record 45.72 billion transactions and exceeding the state-set target, the Ministry of Electronics and Information Technology (MeitY) has told Indian banks.....

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