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Digital payments set to become a trillion-dollar market in next five years: NITI Aayog

News and Press Release - Dated:- 1-8-2018 - Growth spurt will be triggered by entry of global tech giants The digital payments market In India is expected to grow to US $ 1 trillion by 2023 led by growth in mobile payments, presenting huge business o .....

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Trends, Issues and Opportunities , launched today by Mr. Ratan P. Watal, Principal Advisor, NITI Aayog and Member Secretary, EACPM, at a conference organised by FICCI and NITI Aayog.This is the 2nd annual edition of the booklet on Digital Payments w .....

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Regulatory Regime as per Watal Committee Report RBI has taken four key initiatives to usher in a new era of Digital Payments World of Opportunities ahead for Fintech Players Mr. Watal dwelt on the Growth Trends in Digital Paymentsas mentioned in the .....

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value terms has seen a three-fold increase than the trend rate of the last five years The Unified Payments Service (UPI) and Immediate Payment Service (IMPS) segments in terms of volume registered a spectacular growth during 2017- 18. UPI, despite be .....

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alysis of growth trends is based on both MeitY and RBI data. While MeitY data provides volume data in public domain, RBI provides both volume and value data in public domain. A note on Data Sources is also covered in the booklet which gives a compara .....

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ment of the Payment and Settlement Act, 2007. While responding to some questions from the gallery, Mr. Watal shared the initiative taken by NITI Aayog in collaboration with Ministry of Human Resource Development under the Global Initiative of Academi .....

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