After seeing a plunge in April amid the lockdown, retail payments reported a recovery in May, jumping 23 per cent to Rs 24.22 trillion in value terms, against Rs 19.66 trillion in April, the Reserve Bank of India monthly bulletin data showed. In March, retail payments in value terms were to the tune of Rs 36.03 trillion.
Total payments that include digital payments and payments made via paper-based instruments rose 12.5 per cent to Rs 94.64 trillion in May, against Rs 84.10 trillion in April.
Digital payments saw 11.6 per cent rise to Rs 92.03 trillion in May, against Rs 82.46 trillion in April.
While card payments posted over 60 per cent recovery, ATM cash withdrawals in value terms rose to Rs 1.96 trillion in May, against Rs 1.29 trillion in April.