NDIAN DIGITAL PAYMENTS DURING COVID ERA

The digital payments sector of India has matured at a magnifying rate during the last decade fostered by the evolution of paperless payment mechanisms such as UPI, BHIM, E-wallets, mobile banking, etc. The volume and value of Digital payments transactions in India in the last 5 years have comprehensively flourished at a CAGR of 61% and 19% respectively. While heading towards the digital path is not new for the Indian economy, the Covid-19 pandemic, however, has spurred the acceptance and usage of digital technologies. This study makes an effort to interpret the trends in the Indian Digital Payments Ecosystem during the covid era. NEFT, RTGS, UPI, BHIM, IMPS & Card payments have been used as benchmark measures to analyze the adoption and usage of digital payments during the covid era.