CURRENT AFFAIRS

Detailed explanation-1: -India’s digital payments market is at an inflection point and is expected to more than triple from US$3 trillion today to US$10 trillion by 2026.

Detailed explanation-2: -India. One of the first online payment systems in the country dates back to 1996, where the Industrial Credit and Investment Corporation of India (ICICI) began to offer their clients online banking services in their retail branches.

Detailed explanation-3: -India’s digital payment volume has climbed at an average annual rate of about 50 percent over the past five years.

Detailed explanation-4: -In the financial year 2022, over 72 billion digital transactions were recorded across the country.