Published Paper Details:

Abstract : Digitalization is the talk of the day. In digitalization, digital payment plays very important role because of its uses to the country as well as to its individuals. Digital payment has provided an opportunity for India to empower its people and make them to use it and overcome the outdated banking system. RBI has taken diverse steps to persuade the people to opt for digital payment and improve the financial inclusion by using digital platforms for payment. At this juncture, it has become essential to understand and review the present status of digital payment. This study has analyzed present status of different digital payments by using secondary data and found that there is a sharp increase in use of digital modes in the last five years. But, still cash play a major role due to lack of proper infrastructure and technical challenges which needs to be addressed immediately. The study is intended to seek the attention of policy makers so that the benefit of digitalization reaches everyone.