In financial year 2019, the share of real time gross settlement payment systems in India was the highest in terms of value, with over 77 percent of the transactions done through this system. Other payment systems like NEFT and paper clearing came second to RTGS in terms of the value of payment transactions.
Share of payment systems across India in Financial year 2019, by value
Note: RTGS denotes real time gross settlement systems; paper clearing denotes all the paper-based payment systems such as checks and cash; NEFT denotes the national electronic funds transfer system maintained by the Reserve Bank of India; UPI denotes unified payments interface; NACH denotes the national automated clearing house to help bulk and repetitive transactions through banks; IMPS denotes immediate payment services as instant inter-bank transfers.
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Reserve Bank of India. (May 17, 2019). Share of payment systems across India in Financial year 2019, by value [Graph]. In Statista. Retrieved November 08, 2024, from https://www.statista.com/statistics/1028228/india-payment-systems-share-by-value/
Reserve Bank of India. "Share of payment systems across India in Financial year 2019, by value." Chart. May 17, 2019. Statista. Accessed November 08, 2024. https://www.statista.com/statistics/1028228/india-payment-systems-share-by-value/
Reserve Bank of India. (2019). Share of payment systems across India in Financial year 2019, by value. Statista. Statista Inc.. Accessed: November 08, 2024. https://www.statista.com/statistics/1028228/india-payment-systems-share-by-value/
Reserve Bank of India. "Share of Payment Systems across India in Financial Year 2019, by Value." Statista, Statista Inc., 17 May 2019, https://www.statista.com/statistics/1028228/india-payment-systems-share-by-value/
Reserve Bank of India, Share of payment systems across India in Financial year 2019, by value Statista, https://www.statista.com/statistics/1028228/india-payment-systems-share-by-value/ (last visited November 08, 2024)
Share of payment systems across India in Financial year 2019, by value [Graph], Reserve Bank of India, May 17, 2019. [Online]. Available: https://www.statista.com/statistics/1028228/india-payment-systems-share-by-value/
