New Delhi, Aug 5 (KNN) Post Demonetization of the higher value currency note in the country, there have been a rise in the digital transactions, the data from Reserve Bank of India reveals.

According to the data, the transaction crossed the 1 billion mark during July this year.

The number includes different digital transactions including cheque clearing, ATM clearing, Immediate Payment System (IMPS), Unified Payment Interface (UPI), Bhim, RuPay, POS and E-commerce  

It also takes into account the transactions done by using the Aadhaar Bases payments.

The Data further reveals that there have been a rise of 55 per cent in the transactions done by digital payment portals and the graph is likely to continue.

With one billion transaction mark already achieved, National Payments Corporation of India (NPCI), the umbrella organization that manages the digital payment systems in the country, is looking forward to achieve 1 billion transaction mark per day.

Ever since demonization of the 500 and 1000 rupee note as legal tender in November last year, the government have been pushing for digital transactions. Also different digital wallet facilities by leading banks and companies such as Paytm and Freecharge have popped up. (KNN/ DA)