In a written reply to a question in Rajya Sabha, Union Minister of State for Finance Dr. Bhagwat Kisanrao Karad stated that digital payments have significantly increased in recent years, as a result of coordinated efforts of the Government with all stakeholders. The Minister informed that the total digital payment transactions volume increased from 2,071…
Digitising payments could bring substantial cost savings for micro-, small-, and medium-sized enterprises (MSME), not only by simplifying cash management processes but also reducing potential opportunities for misappropriation or corruption, according to the central bank chief.