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Digital India: Real-time transactions double in one year; India secures top position in world

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  • Date Added: Oct 19, 2020
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FINANCIALEXPRESS  OCT-2020 Prime Minister Narendra Modi’s ‘Digital India’ dream is rolling out in full swing as digital payments in India double in a year and the country maintains its position as a world leader in real-time financial transactions in the current year as well. While the volume of real-time transactions doubled this year, the value of transactions grew by 80 percent, said a report by FIS. With new initiatives in the pipeline, India looks set to remain the real-time payments capital of the world, the report added.  In order to bring the poor, and particularly women, into the banking fold, the government announced a major scheme called Pradhan Mantri Jan Dhan Yojana (PMJDY) in August 2014 as a national mission for financial inclusion.