The digital payments transactions including transactions through Unified Payment Interface (UPI) have increased consistently during the last five financial years.

Total Digital Payment Transactions (Including transactions through UPI) during the last

five financial years )

 

Financial Year	Total Digital Payments Transactions
	Volume (in Crore)	Value (in Lakh Crore)
2020-21	4,370.68	1,414.58
2021-22	7,197.68	1,744.01
2022-23	11,393.82	2,086.85
2023-24	16,443.02	2,428.24
2024-25*	18,120.82	2,330.72

                  *Till January 2025

 

In order to prevent payment related frauds including UPI transaction frauds, various initiatives have been taken by the Government, Reserve Bank of India (RBI) and National Payments Corporation of India (NPCI) from time to time. These includes device binding between customer mobile number and the device, two factor authentication through PIN, daily transaction limit, limits and curbs on use cases etc. Additionally, NPCI provides a fraud monitoring solution to all the banks to generate alerts and decline transactions by using AI/ML based models. RBI and Banks have also been taking up awareness campaigns through short SMS, radio campaign, publicity on prevention of ‘cyber-crime’ etc.

Further, to facilitate the citizens to report any cyber incidents including financial frauds, the Ministry of Home Affairs (MHA) has launched a National Cybercrime Reporting Portal (www.cybercrime.gov.in) as well as a National Cybercrime Helpline Number ”1930. Moreover, Department of Telecommunications (DoT) has launched Digital Intelligence Platform (DIP) and ‘Chakshu’ facility which enables citizens to report suspected fraud communication received over call, SMS or WhatsApp.

 

The Minister of State in the Ministry of Finance Shri Pankaj Chaudhary stated this in a   written reply in Rajya Sabha today.

                                                                     ****

NB/AD

(Release ID: 2110405) Visitor Counter : 495