Mumbai, May 29 -- The Reserve Bank, in its Annual Report 2024-25 released Thursday said it continued with its initiatives during 2024-25 to enhance the efficiency, security, and accessibility of payment systems, fostering a more inclusive and resilient digital payments ecosystem. Efforts towards accelerating global outreach of India's domestic payment systems, particularly Unified Payments Interface (UPI) and RuPay cards, were sustained.

During the year, DPSS launched many initiatives in line with Payments Vision 2025, across the pillars of integrity, inclusion, innovation, institutionalisation and internationalisation. India's payment and settlement systems recorded a robust growth of 34.8 per cent in terms of transaction volume during ...