Menu
Search

Digital transactions to reach about 1,800 crore in FY18

By SiliconIndia   |   Wednesday, December 13, 2017
38
Separator
46
Separator
63
Separator
17
Separator
Print Print Email Email

Emphasising a dramatic increase in digital transactions in the country, Minister of State for Electronics and IT K. J. Alphons on Tuesday said the transactions are expected to touch 1,800 crore in the current fiscal from 1,162 crore transactions recorded between April and November.

"Digital payments transactions have increased dramatically. Like this year, up to November, we had 1,162 crore digital transactions, which is a huge record, and we hope to reach about 1,800 crore of transactions this year," the minister said at the launch of digital payment security awareness campaign organised by Data Security Council of India (DSCI).

"Even on the BHIM application for payment of money, in August we had only 1.16 crore transactions. Now that is gone up to 10.5 crore transactions in November which is an increase of like 6-7 times," he said.

Alphons pointed out that digital payment system is reaching out to the villages but it needs to reach more people.

"The entire objective is very simple -- India has to grow and the fruits of development must reach the last person out there.

"We have Aadhaar for 1.2 biliion people of India. We have now linked it to the bank accounts and the benefits which people are supposed to get are going directly to people," he added.

The new digital awareness campaign by DSCI and Google will be rolled out in five languages through online and offline channels of nine partner organisations.


Write your comment now
Submit Reset
Looking For Loan? Let us Help you !!!
Product
Name
City
Phone
Email
Loan Amount
Annual Income
Preferred banks
Captcha
Type the characters you see in the picture
  Submit
Sign Up for DailyDose and Read the Day's Highlights
Email:
Social Media