Speaking at the press meet, Rajiv Anand, Executive Director – Retail Banking, Axis Bank, said, “The Government’s focus on making the country embrace digital payments has been relentless. With digital transactions touching the Rs. 1 billion mark in December last year, we at Axis Bank truly believe that the adoption of digital transactions has gained momentum, thanks to the multiple initiatives taken by the centre. ‘Payments’ has always been at the core of Axis Bank’s business priorities and it is heartening to note that consumers continue to embrace the various digital modes of payment. We have always taken the lead in helping the customers in their ‘digital journey’ through our sustained commitment towards safe, convenient and innovative digital channels.”
As per data released by the Reserve Bank of India, in January this year, banking transactions through digital mode rose 6.57% to Rs. 1.06 billion in December from Rs. 998.5 million in November. This was the first time that the transaction volume crossed the Rs. 1 billion mark. The overall value of these transactions was also the second highest in a month in the last one year. Transaction worth about Rs. 125.51 trillion were carried out in December through credit and debit cards, the unified payments interface (UPI), unstructured supplementary service data (USSD), prepaid payment instruments (PPIs) and internet banking.