RBI Report: Digital Payments Surge, Bank Fraud Spikes in FY25

India's digital payments boomed, with more people using their phones to pay.

UPI, like apps for sending money, is the most popular.

While digital payments are up, the RBI is working to prevent fraud and improving how digital payments work internationally.

The RBI is also working to create its own digital money, like a digital version of the rupee, and launched CBDC pilot programs.

There was a big increase in bank fraud, mostly from loans and digital payments, although the number of fraud cases has decreased.

The RBI is trying to make sure banks are safe from fraud.

Also, the RBI is linking the FX-Retail platform with Bharat Connect for easy retail foreign exchange transactions.