Coordinated Efforts of Government, RBI and NPCI Accelerate Growth in Digital Payments

• PIB release (Ministry of Finance, 16 March 2026) consolidating four-year growth data on India's retail digital payments ecosystem, anchored by UPI, NPCI, RBI, and the Department of Financial Services (DFS).
• UPI = world's largest real-time retail payment system, contributing 81% of retail digital payments in FY 2024-25.
• UPI was recognised by the IMF as accounting for ~49% of global real-time transactions.
• High-yield UPSC area for GS-III (Indian Economy, financial inclusion, digital infrastructure) and Prelims factual MCQs on agencies/numbers.