Digital transactions could reach Rs 15 trillion a day by 2025: RBI

Payments through digital modes are expected to jump to 1.5 billion transactions, worth Rs 15 trillion a day in five years, the Reserve Bank of India (RBI) estimates.

The daily transactions average at about 100 million now for a volume of Rs 5 trillion. Just before the Covid outbreak, the daily transactions were averaging around 125 million a day, which is more than five times the volume digital transactions witnessed in 2016 June, according to P Vasudevan, Chief General Manager for the Department of Payment and Settlement Systems at the RBI.

The RBI official was part of a panel on digital payments future at the Global Fintech Fest, organised by Fintech Convergence Council (FCC) and National Payments Corporation of India (NPCI).