Value of digital transactions falls 5.5% in July

 Niti Kiran   New Delhi     Last Updated: August 10, 2017  | 21:24 IST
Value of digital transactions falls 5.5% in July

The value of digital transactions, including transactions via debit and credit cards, net banking and prepaid payment instruments (PPIs), fell 5.5 per cent to Rs 107,482.6 billion in July 2017 compared to the previous month, according to Reserve Bank of India's provisional data. The value of digital transactions last contracted in April 2017 by 26.7 per cent.

A decline in the value of transactions via NEFT to Rs 12,115.1 billion from Rs 12,694.2 billion in June 2017 led the fall in July.

However, the volume of digital transactions grew by 1.7 per cent to 859.2 million in July. A four-million increase in the volume of transactions through debit and credit cards (totalling 236.4 million) led to the overall rise. In June, the volume of transactions fell by 1.6 per cent.

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