New Delhi, July 28 -- India logged over 65,000 crore digital payment transactions worth Rs.12,000 trillion in the last six fiscal years-FY19 to FY25-marking a surge in the technology's adoption across the country, including small towns and rural areas, minister of state for finance Pankaj Chaudhary said on Monday. This has helped reduce cash dependency in the economy and increase formal economic participation.

In a written reply to a question in the Lok Sabha, Choudhary said the government has been closely working with various stakeholders, including the Reserve Bank of India (RBI), National Payments Corporation of India (NPCI), fintechs, banks, and state governments to boost adoption of digital payments across the country.

The RBI had ...