Aadhaar-Enabled Payments Double, Digital Transactions Cross Rs 2,400 Crore Since Note Ban: Five Facts

The National Institution for Transforming India or NITI Aayog, which aims at bringing government-citizen transactions to the digital platform, said that the number of digital transactions in the country surged 23 times in the period between March 2017 and November 8 last year - the month in which the government in a surprise move demonetised Rs 500 and Rs 1,000 currency notes. At least 15,000 institutions have gone cashless in 100 rural and urban cities across the 27 states and seven Union Territories, NITI Aayog said in a press release dated April 14, while sharing some facts related to the progress in terms of digital payments in the country.

Here are some of the figures shared by NITI Aayog:

Under the Lucky Grahak and Digi Dhan Vyapar schemes, 16 lakh customers and merchants have won Rs 258 crore of prize money. To promote digital payments, the government had launched the Lucky Grahak and Digi Dhan Vyapar schemes for consumers and merchants, respectively on December 25 last year. (Also read: Rs 1 crore jackpot for person making Rs 1,590 digital payment)

The BHIM or Bharat Interface for Money app has registered 1.9 crore downloads in four months since its launch in December last year - creating a world record. (Also read: BHIM-Aadhaar app revamped. Here's what is new)

Digital payments have increased to 63,80,000 transactions (worth Rs 2,425 crore) from 2,80,000 (Rs 101 crore) in November 2016 - a surge of nearly 23 times.

Aadhaar-enabled payments have increased from 2.5 crore in November 2016 to over five crore in March 2017 while Immediate Payment Service (IMPS) transactions have increased from 3.6 crore to 6.7 crore.

To accept payments using BHIM Aadhaar - the merchant interface of the BHIM app, 27 major banks are now on board with 7.15 lakh merchants. PM Modi launched the Bhim-Aadhaar platform earlier this week, aimed at enabling citizens without access to smartphones, internet, debit or credit cards to transact digitally.

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