POST-COVID ACCELERATION OF DIGITAL PAYMENTS IN INDIA: A QUANTITATIVE ANALYSIS USING RBI DATA (2018–2025)

DOI: https://doie.org/10.65985/APER.2026298038

Authors:

Dr Harshita Gupta, Dr.Shreya Sheel, Dr Shweta, Dr. Anju Gairola Thapliyal, Ms. Sneha Bharti

Keywords:

Digital Payments;UnifiedPayments Interface (UPI),Reserve Bank of India (RBI); Digital Payment Index (DPI); Post-COVID Financial Behavior; FinTech Adoption; Secondary Data Analysis; Interrupted Time Series; Difference-in-Differences (DiD) model

Abstract:

This research unearth the development of the rapid digital payment trend in India after the COVID period from the secondary data which is collected from the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI). It is collected between 2018 and 2025. It is definitely about finding changes in the number and value of transactions in the main digital payment methods (UPI, IMPS, NEFT, and card-based transactions) due to the COVID-19 pandemic and RBI policy changes while also discussing the changes in user behavior. A research design was deployed in this study which is also called longitudinal quantitative research design which used time-series data. The analytical methods applied (including descriptive statistics, Interrupted Time Series (ITS) analysis, Difference-in-Differences (DiD), and regression modeling) to get accurate result. Years wise transaction growth rates and the correlation between RBI’s Digital Payment Index (DPI) and the transaction volume is also studied in this research. The data points in theresearchshows a significant changes in the proliferation of online payment after March 2020. UPI was found to be the most rapidly growing method.It is also supported by the fact that online transaction volume increased manifold (114%) in 2020.Pandemic is cited as the main reason for the statistically significant increase in digital transactions, while regression also pointed out that Polices of RBI on UPIalso had a positive effect on payment volumes..

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