Online Payments
Online payments in India have surged since the 2016 demonetization. The Unified Payments Interface (UPI) revolutionized transactions, facilitating instant transfers. India is one of the largest markets for digital wallets. The Reserve Bank of India regulates online payment systems, ensuring security and consumer protection. Digital literacy initiatives aim to include rural populations in the cashless economy. Cybersecurity remains a critical concern in this growing sector.
The Ministry of Panchayati Raj has launched the Samarth Panchayat Portal to digitize the fiscal management and Own Source of Revenue (OSR) of rural local bodies. The platform...
May 4, 2026