Digital Payments Hit 87% in India, Surpassing Global Average: FM Sitharaman

Finance Minister Nirmala Sitharaman stated India's digital payment adaptability has reached 87%, significantly above the 60% global average.

Union Finance Minister Nirmala Sitharaman on Tuesday stated that digital payment adaptability in India has reached 87%, a figure she contrasted with a global average of 60%. In an interaction with students after inaugurating the dhaRti BioNEST Incubation Centre at IIT Dharwad, Sitharaman said, 'Digital adaptability in payments in India is around 87 per cent, whereas globally, it is still in the range of 60s, that's the level of fintech revolution."

India is recognised as a world leader in digital payments, accounting for nearly half of all real-time digital transactions globally. The Unified Payments Interface (UPI) is the cornerstone of India's digital payment ecosystem. It processed over 18,580 crore transactions worth Rs 261 trillion in the 2024-25 financial year.

The high adoption rate is attributed to India's robust Digital Public Infrastructure (DPI), which includes Aadhaar, UPI, and DigiLocker. This infrastructure has helped bring millions into the formal financial system.

Fintech is viewed as more than just an urban convenience, but as a crucial enabler of economic empowerment nationwide. The adoption of digital payments is strengthening in tier-2 and tier-3 cities, fueled by rising internet and smartphone penetration. 

Earlier today, the Finance Minister commenced her four-day visit to Karnataka from October 14 to 17, 2025, with a packed schedule focusing on rural development, agro-processing, entrepreneurship, and student engagement.

As part of her programme, Sitharaman inaugurated the dhaRti BioNEST Incubation Centre, a hub for innovation and bio-entrepreneurship at IIT Dharwad. She also interacted with students, encouraging them to explore opportunities in biotechnology and rural innovation.

Continuing her engagements on October 15, she will inaugurate the Farmer's Training Centre and Common Facility Centre (CFC) for Agro Processing. She will later visite a puffed rice MSME unit in Chilawadagi Village, Koppal, highlighting the government's support for rural micro-industries. The day also included an interaction with PMIS interns. 

On October 16, Sitharaman will travel to Jawalgera Village in Sindhanur, Raichur, where she will inaugurate another Farmer's Training Centre and CFC for Agro Processing. She will visit the Gram Panchayat Library in Bagewadi, Siruguppa, Ballari, emphasising the importance of grassroots knowledge centres.

Another farmer's training centre and agro-processing facility will be inaugurated the same day. She will also review the operations of Karnataka Grameena Bank at its headquarters in Ballari, emphasising the role of regional banks in supporting rural credit and development.

The visit will conclude on October 17 with the inauguration of a Farmer's Training Centre and CFC for Agro Processing at Kasapura Village in Kudligi, Vijayanagara.

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