#UPI TRANSACTION

DFS has informed that digital transaction of the country are regularly increasing from 2016.

India is moving towards digitally empowered 2022 with #UPI

Department of financial services (DFS) has informed about digital transaction volume in twitter account on dated 4.12.2021. They informed that digital transaction volume is increased Rs 0.07 Lakh Crore in 2016-17 to Rs 42.02 Lakh Crore in 2021-22 (October’21).

Digital transactions are playing vital role for boosting the India digitally. upi transaction

 

DFS informed via social media twitter handle. @DFS_India

@DFS_India

A significant catalyst in the transformation of Digital India! The value of digital transactions through #UPI has increased from Rs 4.94 lakh crore in April’21 to Rs 7.71 lakh crore in October’21

DFS shared a picture of digital transaction volume.

 

UPI transaction

Last year, in India, mobile payments exceeded ATM cash withdrawals for the first time.

Fully digital banks, without any physical branch offices, are already a reality and may become commonplace in less than a decade

About DFS(Department of Financial Services)

The Department of Financial Services covers the functions of Financial Institutions, Banks, Insurance Companies and the National Pension System.

The Department of Financial Services is headed by the Secretary (FS) and assisted by three Additional Secretary (AS), seven Joint Secretaries (JS), one Economic Advisers (EA) and a Deputy Director General (DDG).

The Department of Financial Services (DFS) perform the key programs/initiatives and reforms of the Government concerning the Insurance Sector and the Pension Sector the Banking Sector in India.

DFS perform  the Initiatives and reforms relating to Financial Inclusion, Social Security, and Insurance as a Risk Transfer mechanism; Credit Flow to the key sectors of the economy/ farmers/ common man are some of the key focus areas being dealt by the Department.

following mention The key flagship schemes being currently run/managed by the Department

  • Pradhan Mantri Mudra Yojana (PMMY)
  • Pradhan Mantri Jeevan Jyoti Bima Yojana(PMJJBY)
  • Pradhan Mantri Jan Dhan Yojana (PMJDY),
  • Pradhan Mantri Suraksha Bima Yojana (PMSBY),
  • Standup India Scheme
  • Atal Pension Yojana (APY)
  • Pradhan Mantri Vaya Vandana Yojana (PMVVY)
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