The importance of fostering digital payments
Globally, India lags in terms of cashless transactions. Policymakers' role in fostering quick adoption of digital payments assumes great importance
Globally, India lags in terms of transaction volumes and value of cashless transactions. A recent Kotak Economics Research study reveals that while the gross transaction throughput in India ($1.8 trillion) is comparable to that in other major countries, and that the value per transaction ($146) is among its peers, India fares poorly in per capita transaction value ($1,000).
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