• Digital India : Digital Payments Key Achievements in 2018
New Delhi, January 3, 2019 : The Digital India Programme of the Government aims to transform India into a knowledge-based economy and digitally empowered society by ensuring digital access, digital inclusion, digital empowerment and bridging the digital divide. Under Digital India Programme MeitY has effectively utilised Digital technologies to transform the lives of people while ensuring digital inclusion of all the segments. The Government is committed to provide governance and services to our citizens in an affordable and efficient manner within the shortest span of time.
Through Aadhaar, the Government has provided digital identity to 122.9 crore residents of the country with 99% coverage of adult population as on 30th November, 2018. Earlier, a substantial percentage of population, especially the economically poor and the rural segment, women and children, did not have an identity card by which they could access a service. Aadhaar has given individuals a Government issued ID card which can be authenticated any time anywhere. Aadhaar combined with Digital Locker, eSign, and various forms of digital payments have paved the way for common man getting services on his mobile instead of having to run to multiple Government offices.
- The growth of digital payments ecosystem is set to transform the economy.
- India’s unique payment systems such as BHIM-UPI and BHIM-Aadhaar getting recognized globally.
- Over the past four years digital payment transactions have grown multifold from 316 crore transactions in 2014-15 to 2071 crore transactions in 2017-18. Today, BHIM app has become one of the main digital payment instrument for sending, collecting the money and to pay for various utility bills. In November, 2018, more than 173 lakh transactions of value Rs. 7,981 crore were made using BHIM app.
|No. of Digital Payments per month after Demonetization (Figure in crore)|
|Digital Payments Mode||Oct-16||Nov -18||% Growth|
|Mobile Wallets||9.96||36.84(Oct 18)||270%|
|Unified Payment Interface + BHIM+USSD||0.01||52.49||524800%|
|Debit Card||14.06||39.34(Oct 18)||180%|
|Immediate Payments System (IMPS)||4.21||14.99||256%|
|Aadhar Enabled Payments System||2.57||13.71||433%|
The growth of mobile and smartphones have transformed the ecosystem of Digital Delivery of Services. The combination of Jandhan bank Accounts, mobile phones and digital identity through Aadhaar is helping the poor receive the benefits directly into their bank account. A total of Rs. 5.49 lakh crore have been disbursed through Aadhaar based DBT to beneficiaries of 433 government schemes which have led to saving of over Rs. 90,000 crore in the last 4 years by removing fictitious claimants.
Mobile phones have also provided a major boost to the growth of Digital Payments. Over the past four years digital payment transactions have grown multifold. BHIM app has become one of the main digital payment instrument for sending, collecting the money and to pay for various utility bills. The trend can be explained through the following table:
|Mode||November, 2016||October, 2018|
|1||BHIM/ UPI||1000 / Day||160.79 lakh / Day|
|2||Mobile Wallets||46.03 lakh / Day||122.82 lakh / Day|
|3||Debit Cards||78.83 lakh / Day||131.13 lakh / Day|