Telangana is making great strides in digital payments. Telangana stands out as one of the top-10 states with the highest number of cashless payments in the country. Hyderabad tops the list of metro cities. Next on the list are Bangalore, Chennai, Mumbai, Pune, Delhi, Kolkata, Coimbatore, Ahmedabad, and Vadodara, according to the World India survey.
According to the survey, India ranks 6th in the world in digital payments. The top-10 states include Maharashtra, Tamil Nadu, Karnataka, Andhra Pradesh, Kerala, Gujarat, Delhi, Uttar Pradesh, Telangana and West Bengal. The report found that 80% of financial transactions in the country are currently done digitally. The cashless payments increased in the wake of the Corona.
The digital payments in the country, which stood at Rs 1,004 crore five years before, have now reached Rs 5,554 crore. According to the Reserve Bank of India, digital payments worth Rs 21.70 crore are being made daily with RTGS. About 67% of all digital transactions are done by private banks and 27% by public sector banks. According to official figures, there are currently 22 crore PPIs (Prepaid Payment Instruments) along with 100 crore debit and credit cards across the country.