E-payments rise marginally in volume, dip in value

Electronics manufacturing
Electronic payments saw a marginal rise in volume in October over the previous month, said the Reserve Bank of India (RBI).

The volume for August rose to 1,938.63 million from 1,875.13 million. The value of digital payments dipped to Rs 204 lakh crore against Rs 220 lakh crore.

Mobile banking rose, both in volume and value. The volume and value for October was 154.5 million and Rs 97,100 crore, respectively, against 113.94 million and Rs 84,847 crore in the previous month.

Debit cards saw a rise in volume and value but credit cards saw a slight dip in volume. The value of credit card payments was Rs 42,260 crore in October, against Rs 37,776 crore in September. The value of debit card payments for October rose to Rs 2,93,928 crore from Rs 2,78,583 crore in September. 

Prepaid payment instruments (PPI) — comprising mobile wallets, PPI cards and paper vouchers — saw a slight rise in both volume and value.
Volume rose from 240.29 million in September to 245.18 million in October. Value rose from Rs 10,977 crore to Rs 11,698 crore.

The volume for Real Time Gross Settlement for October was 10 million, a marginal rise from 9.6 million transactions in September.


Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel