RBI ‘Payments Vision 2025’ seeks 3-fold jump in digital payments

RBI increase the number of digital payment transactions by more than 3X by 2025 and to curb volume of cheque-based payments to less than 0.25% of total retail payments

Core theme of vision documents: E-Payments for Everyone, Everywhere, Everytime (4Es). It covers 47 specific initiatives and 10 expected outcomes. It provide users with safe, secure, fast, convenient, accessible, and affordable e-payment options. It also envisages annualized growth of 50% for UPI payments.