In financial year 2023, digital payments via the National Electronic Funds Transfer (NEFT) valued to over 337 trillion Indian rupees. This was by far the highest value of credit transfer modes. Unified Payments Interface (UPI) payments, which made up the highest number of transactions, came second with over 139 trillion Indian rupees.
Value of credit transfers across India from financial year 2018 to 2023, by mode of payment
(in trillion Indian rupees)
Characteristic
AePS
ECS
NACH
APBS
IMPS
NEFT
UPI
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India's financial year begins in April and ends in March. For example, FY 2017 started in April 2016 and ended in March 2017.
One Indian rupee is equal to 0.012 U.S. dollars and 0.011 euros (as of July 2023).
Values have been rounded for clarity.
Previous reports have been accessed for historical data.
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Reserve Bank of India. (May 30, 2023). Value of credit transfers across India from financial year 2018 to 2023, by mode of payment (in trillion Indian rupees) [Graph]. In Statista. Retrieved July 03, 2024, from https://www.statista.com/statistics/1251316/india-value-of-credit-transfers-by-mode/
Reserve Bank of India. "Value of credit transfers across India from financial year 2018 to 2023, by mode of payment (in trillion Indian rupees)." Chart. May 30, 2023. Statista. Accessed July 03, 2024. https://www.statista.com/statistics/1251316/india-value-of-credit-transfers-by-mode/
Reserve Bank of India. (2023). Value of credit transfers across India from financial year 2018 to 2023, by mode of payment (in trillion Indian rupees). Statista. Statista Inc.. Accessed: July 03, 2024. https://www.statista.com/statistics/1251316/india-value-of-credit-transfers-by-mode/
Reserve Bank of India. "Value of Credit Transfers across India from Financial Year 2018 to 2023, by Mode of Payment (in Trillion Indian Rupees)." Statista, Statista Inc., 30 May 2023, https://www.statista.com/statistics/1251316/india-value-of-credit-transfers-by-mode/
Reserve Bank of India, Value of credit transfers across India from financial year 2018 to 2023, by mode of payment (in trillion Indian rupees) Statista, https://www.statista.com/statistics/1251316/india-value-of-credit-transfers-by-mode/ (last visited July 03, 2024)
Value of credit transfers across India from financial year 2018 to 2023, by mode of payment (in trillion Indian rupees) [Graph], Reserve Bank of India, May 30, 2023. [Online]. Available: https://www.statista.com/statistics/1251316/india-value-of-credit-transfers-by-mode/