Abstract

Electronic payment system has become very popular in India specially in last decade. Since demonetization in the year 2016 several methods of digital payments got their popularity and relevance. The penetration of internet facility, availability of smart phones at reasonable price to the major segment of the society, have been the causes for tremendous growth in the digital payment modes. The dimensions of banking have dramatically changed, the people are now more exposed and financially literate to adopt the modern methods of banking. Several steps such as Pradhan Mantri Jan Dhan Yojna, launch Rupay debit card and UPI have been the turning points in the financial inclusion. In precise the digital financial inclusion. As of February 2026, over 57 crore Pradhan Mantri Jan Dhan Accounts under (PMJDY) have been opened since inception in 2015, Approximately 40 crore Rupay debit cards have been issued to the beneficiaries. These accounts have around 2 lakh 94 thousands crore rupees as deposits as on February 2026.