Retail cheque payments down to a trickle in FY20 to 2.96 per cent: RBI data

Retail cheque payments down to a trickle in FY20 to 2.96 per cent: RBI data

MUMBAI: The aggressive push to a digital payments and settlement system has paid rich dividend to the Reserve Bank as the share of paper clearing in retail payments has come to trickle in FY2020, show the latest RBI data. In FY2020, the share of paper clearing in total retail payments plunged to just 2.96 per cent in terms of volume and to 20.08 per cent in terms of value, the data showed.

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The New Indian Express

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