Digital Payments in the Era of Covid19 Pandemic

ABSTRACT

In this era of Covid19 pandemic, digital payments are growing and expected to be growing in near future. So, we conducted this study to check the status of digital payments in India and to find out the impact of Covid19 Pandemic on the digital payments. The present study is descriptive cum analytical in nature. The study is based on secondary data collected from various reports published on different Government websites considering a time period of four year (2017-18 to 2020-21). In statistical tools, Monthly Growth Rate, Compound Monthly Growth Rate, Compound Annual Growth Rate and Descriptive Analysis have been used to analyze the collected data. In the results, it has been found that the total amount of digital transactions is increasing year by year during the period of study. Further in results, BHIM mode of digital transactions have grown at a very fast speed as the Compound Annual Growth rate is 122.38% which is very high in comparison to the other modes of digital payments. However, the modes of digital payments other than BHIM are also growing as they have positive Compound Annual Growth Rate.

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