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As of 24 April 2023, ONDC completed the milestone of 5,000 daily orders in foods & beverages, and grocery category and on average 6,000 orders during weekends. It crossed the mark of 10,000 orders on 30 April 2023. [133] As of 24th May 2023, ONDC achieved a grand one-year milestone after completing 1 year of operation.
On 1 November 2022, RBI used Digital Rupee to settle Indian government bonds in secondary market transactions worth ₹2.75 billion Indian rupees ($33.29 million). [52] The Phase-1 of pilot project for e₹-R will start from 1 December 2022 in Mumbai, New Delhi, Bengaluru, and Bhubaneswar under State Bank of India, ICICI Bank, Yes Bank, and ...
With UPI representing 62% of digital payment transactions in FY 2022–2023, it has been the primary driver of the overall development of digital payment transactions in India. [105] In January 2024, the value of UPI transactions reached ₹18.41 trillion, a slight increase of 1% from ₹18.23 trillion in December 2023. From 12.02 billion in ...
The Reserve Bank of India started a pilot for the e-rupee, devised as a digital alternative to physical cash, in December 2022, and successfully reached a target of 1 million retail transactions ...
2016: The Government of India launches the BHIM UPI digital payment interface. In the year 2020 it has 2 billion digital payment transactions. [92] [93] 2017: Retail e-commerce sales across the world reaches $2.304 trillion, which was a 24.8 percent increase than previous year. [94]
BHIM (Bharat Interface for Money) is an Indian state-owned mobile payment app developed by the National Payments Corporation of India (NPCI), based on the Unified Payments Interface (UPI). Launched on 30 December 2016, [1] it is intended to facilitate e-payments directly through banks and encourage cashless transactions.
Digital India is a campaign launched by the Government of India to make its services available to citizens electronically via improved online infrastructure and by increasing Internet connectivity. [ 1 ] [ 2 ] The initiative includes plans to connect rural areas with high-speed internet networks.
As of 2023 there are 907.4 million internet users in India (64% of the population), a 35% increase since 2018. [3] 63% payments still being made in cash. E-payments have been heavily promoted in India showing consumers the various ways they can make these payments Including ATMs, the Internet, mobile phones and drop boxes.