Electronic payments rise marginally in August: RBI

Electronics payments saw a marginal rise in volume in August over the previous month, said the Reserve Bank of India’s (RBI’s) monthly bulletin.

The volume for August rose to 1,906.25 million from 1,876.5 million.

Mobile banking continued to dip but at a marginal rate. The volume and value for August was 99.64 million and Rs 79,913 crore against 102.40 million and Rs 80,136 crore, respectively, in the previous month. 

Credit and debit cards saw a slight rise in volume and value. The value of credit card payments was Rs 36,603 crore in August, against Rs 34,215 crore in July. The value of debit card payments for August rose to Rs 2,70,609 crore from Rs 2,61,411 crore in July.

Prepaid payment instruments (PPI) — comprising mobile wallets, PPI cards and paper vouchers — saw a slight fall in volume and marginal rise in volume. 

The volume fell from 270.24 million in July to 261.14 million. The value rose from Rs 9,856 crore to Rs 10,288 crore.

The volume for Real Time Gross Settlement (RTGS) for August was 9.46 million, a marginal rise from 9.38 million transactions in June.

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