Digital transactions in India: PSBs conduct 72% of financial transactions through digital channels – 72% of public sector banks have started digital transactions.
- About 72 per cent of digital transactions now take place in public sector banks.
- In 2019-20, about 34 million customers of public sector banks were active on digital channels.
- The number of customers doubled to 76 million by 2020-21
- This is an important step towards fulfilling Prime Minister Modi’s dream of a digital India.
Digital transactions in PSB: Private banks are increasingly focusing on digital transactions, but government banks are not far behind. In a written reply to a question in the Rajya Sabha on Tuesday, Minister of State for Finance Bhagwat Karad said that 72 per cent digital transactions have started in public sector banks. In 2019-20, about 34 million customers of public sector banks were active on digital channels, which doubled to 76 million by 2020-21.
This is what Prime Minister Modi wanted!
Since Prime Minister Modi came to power, he has consistently worked to promote Digital India. He frequently chants the slogan of Digital India and inspires the youth to connect with technology. To curb black money, he always wanted to have more and more financial transactions, which would make it easier to track every penny. It also took several important steps with Bhim UPI. Now digital transactions in public sector banks are growing rapidly, which should make PM Modi happy.
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There are many benefits to digital transactions
If all banks do digital transactions, it will have many benefits. This will not only help curb black money, but will also greatly benefit all consumers. Digital transactions will save time by going to the bank and completing the work. If people have time left, they can do something else during that time, which will increase productivity. Not only this, with the help of cash you can do welding.
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