Highlights

  • Union External Affairs Minister S Jaishankar emphasized the remarkable evolution of cashless payments in India
  • 'India now processing as many cashless transactions in a month as the United States does in three years'

Latest news

NDA, INDIA bloc MPs hold protest marches in parliament premises over Ambedkar issue

NDA, INDIA bloc MPs hold protest marches in parliament premises over Ambedkar issue

New Zealand falls into recession with abrupt economic slowdown

New Zealand falls into recession with abrupt economic slowdown

Fadnavis and Shinde Pay Tribute at RSS Founders' Memorials in Nagpur, Meet Office-Bearers

Fadnavis and Shinde Pay Tribute at RSS Founders' Memorials in Nagpur, Meet Office-Bearers

Traffic to be affected at Kalindi Kunj junction due to Delhi-Mumbai Expressway construction

Traffic to be affected at Kalindi Kunj junction due to Delhi-Mumbai Expressway construction

Manipur: Security forces bust camps of two banned militant organisations

Manipur: Security forces bust camps of two banned militant organisations

Dollar Pushes Indian Rupee to Record Low of 85, Fed's Policy Outlook in Focus

Dollar Pushes Indian Rupee to Record Low of 85, Fed's Policy Outlook in Focus

13 dead, 99 rescued after Navy boat rams into ferry off Mumbai coast

13 dead, 99 rescued after Navy boat rams into ferry off Mumbai coast

Oil Prices Rally on Inventory Drop, Market Awaits Fed Projections

Oil Prices Rally on Inventory Drop, Market Awaits Fed Projections

Indians outpace Americans in monthly cashless transactions: Jaishankar

During an interaction with the Indian community in Nigeria, Jaishankar highlighted the profound impact of technology on the lives of Indian citizens

Indians outpace Americans in monthly cashless transactions: Jaishankar

Union External Affairs Minister S Jaishankar emphasized the remarkable evolution of cashless payments and Unified Payments Interface (UPI) in India, asserting that Indians now conduct more cashless transactions in a month than users in the United States do in three years.

During an interaction with the Indian community in Nigeria, Jaishankar highlighted the profound impact of technology on the lives of Indian citizens. He noted a significant shift away from cash payments, with India now processing as many cashless transactions in a month as the United States does in three years.

Also read/watch - Zee-Sony saga: Zee set to take legal action as Sony seeks $90 mn termination fee for breach of agreement

"The life of every Indian citizen has become easier and this is because we have embraced technology in a very deep way. You can see this in payment, very few people today pay in cash and very few people accept cash...Today, we do as many cashless payments in India in a month as much as America does in three years," Mr Jaishankar said at the event.

Jaishankar identified five key examples illustrating India's transformation over the past decade, citing UPI, the 5G stack, and the successful handling of coronavirus vaccinations as notable advancements. He commended India's response to the Covid-19 pandemic during the interaction.

"For me, how a country deals with a challenge, recovers from the challenge, and is able to pose such a strong economic performance, how the life of an average citizen becomes better, how we are capable of something that captures the imagination of the world and how do we look after our people outside the country. These are five true examples of what changed in India in the last decade," Jaishankar said.

ADVERTISEMENT

Up Next

Indians outpace Americans in monthly cashless transactions: Jaishankar

Indians outpace Americans in monthly cashless transactions: Jaishankar

Dollar Pushes Indian Rupee to Record Low of 85, Fed's Policy Outlook in Focus

Dollar Pushes Indian Rupee to Record Low of 85, Fed's Policy Outlook in Focus

Oil Prices Rally on Inventory Drop, Market Awaits Fed Projections

Oil Prices Rally on Inventory Drop, Market Awaits Fed Projections

SEBI Expands UPSI Definition, Strengthens ESG and Governance Frameworks

SEBI Expands UPSI Definition, Strengthens ESG and Governance Frameworks

Gold Imports surge in November: Commerce Ministry examining data for any calculation error

Gold Imports surge in November: Commerce Ministry examining data for any calculation error

Indian Stock Market: Mixed Sectoral Performance Amid IPO Highlights

Indian Stock Market: Mixed Sectoral Performance Amid IPO Highlights

ADVERTISEMENT

editorji-whatsApp

More videos

Parliamentary Panel bats for legal guarantee of MSP to protect farmers' interests

Parliamentary Panel bats for legal guarantee of MSP to protect farmers' interests

Bihar fully prepared to create robust business ecosystem, investment safe: Dy CM Samrat Choudhary

Bihar fully prepared to create robust business ecosystem, investment safe: Dy CM Samrat Choudhary

"If they tax us, we tax them...," Trump Signals Tough Trade Stance; Reciprocal Tariffs on India

"If they tax us, we tax them...," Trump Signals Tough Trade Stance; Reciprocal Tariffs on India

Top 5 Losers of NIFTY 50: A Day of Decline for Leading Stocks

Top 5 Losers of NIFTY 50: A Day of Decline for Leading Stocks

India's renewable energy capacity addition doubled to 15 GW in Apr-Nov: Pralhad Joshi

India's renewable energy capacity addition doubled to 15 GW in Apr-Nov: Pralhad Joshi

 Indian Markets Open Lower Amid Caution Ahead of U.S. Federal Reserve Meeting

Indian Markets Open Lower Amid Caution Ahead of U.S. Federal Reserve Meeting

Five of top-10 most valued firms together add Rs 1.13 lakh Crore in market valuation

Five of top-10 most valued firms together add Rs 1.13 lakh Crore in market valuation

Airlines are price takers, they do not have influence on prices they pay: IATA Chief Economist

Airlines are price takers, they do not have influence on prices they pay: IATA Chief Economist

India’s import of Russian oil drops in November on shrinking discounts

India’s import of Russian oil drops in November on shrinking discounts

Auto Expo to see highest-ever participation of vehicle manufacturers: SIAM

Auto Expo to see highest-ever participation of vehicle manufacturers: SIAM

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.