India Accounts for Half of Global Real-Time Digital Transactions, Says PM Modi

By A Staff Reporter

Mumbai: Prime Minister Narendra Modi on Thursday highlighted India’s rapid digital transformation, crediting the success of digital payments to the government’s JAM trinity initiative—Jan Dhan, Aadhaar, and mobile connectivity.

Speaking at the Global Fintech Fest (GFF) in Mumbai, the Prime Minister said digital payments have become an integral part of daily life for millions of Indians. “Today, digital payments have become a part of everyday life in India, and the biggest credit goes to the JAM trinity: Jan Dhan, Aadhaar, and mobile,” he said.

Emphasising India’s global leadership in financial technology, Modi noted that more than 20 billion transactions now occur monthly through the Unified Payments Interface (UPI), with a cumulative value exceeding ₹25 trillion (₹25 lakh crore). “Currently, out of every 100 real-time digital transactions in the world, 50 happen solely in India,” he added.