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

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  • Date Added: Jul 23, 2020
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ECONOMICTIMES JULY-2020 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. The volume of transactions exceeded MeitY’s self-set target of at least 40.19 billion in FY20, MeitY’s Secretary Ajay Sawhney said in a letter to managing directors of top Indian lenders.