Business
Digital Payments Make Up 99.8% Of All Transactions In H1 2025: RBI
New Delhi: India’s digital payments landscape continues its rapid expansion, with digital transactions accounting for 99.8 per cent of the total payment volume and 97.7 per cent of the total transaction value in the first half of 2025 (H1 2025), according to data released by the Reserve Bank of India (RBI).
Unified Payments Interface (UPI) continues to dominate the digital ecosystem, accounting for 85 per cent of transactions by volume and 9 per cent by value in the first six months of the year.
During this time, the UPI system handled 10,637 crore transactions, valued at Rs 143.3 lakh crore, compared to Rs 117 lakh crore in the previous year. According to the RBI, UPI’s effectiveness, round-the-clock accessibility, and user-friendliness continue to make it the most popular retail fast payment system in India.
On the other hand, although it only made up 0.1 per cent of the total volume, the Real Time Gross Settlement (RTGS) system, which facilitates high-value transfers, held the largest share in terms of value at 69 per cent. In 2024, there were 29.5 crore RTGS transactions, up from 14.8 crore in 2019, and the transaction value increased from Rs 1,388.7 lakh crore to Rs 1,938.2 lakh crore.
RTGS handled 16.1 crore transactions totalling Rs 1,079.2 lakh crore in the first half of 2025 alone. The RBI explained the divergent trends in volume and value shares by pointing out that RTGS mainly handles large-value transfers with a minimum transaction threshold of Rs 2 lakh, whereas UPI processes a large number of small-value transactions. Of the Rs 1,572 lakh crore in total payment transactions that took place during that time, Rs 1,536 lakh crore were handled digitally.
The Clearing Corporation of India Limited’s (CCIL) large-value payment systems saw growth as well. The number of CCIL transactions increased from 35 lakh in 2019 to 45 lakh in 2024, and their value increased from Rs 1,270 lakh crore to Rs 2,780 lakh crore. CCIL recorded 28.8 lakh transactions totalling Rs 1,734 lakh crore in the first half of 2025.
The RBI data demonstrates how UPI and other innovations, along with persistent efforts to encourage cashless transactions throughout the economy, have led to India’s payments ecosystem becoming overwhelmingly digital.
Workers at a leading defence and aerospace company are set to go on strike in November in a dispute over pay.
Unite says more than 3000 workers at Leonardo UK’s facilities in Scotland and England will walk out after the company refused to improve its pay offer.
The company is involved in a number of defence projects, with its site in Edinburgh producing advanced radars for military aircraft.
Workers at Leonardo’s Edinburgh and Newcastle sites will strike between November 5 and 6, then again between November 10 and 18.
At the Yeovil, Luton and Basildon sites, workers will strike between November 5 and 6, then again between November 12 and 13.
Union officials said staff were refused a better deal after declining the initial offer of 3.2%, which the union said represents a real-terms pay cut.
Unite general secretary Sharon Graham said: “Our members are highly skilled and work on critical defence and aerospace systems, yet are being short-changed by a company making billions.
“Leonardo has had ample opportunity to do the right thing and make a decent offer that our members could have accepted. Instead, they have refused and will now see the anger of our members on the picket line outside their factories.
“This is a dispute entirely of their own making and our members will have the full support of Unite in their fight for decent pay.”
Leonardo UK has been approached for comment.
Business
‘India won’t sign any trade deal with a gun to head’: Piyush Goyal’s clear message amid talks with US, EU; ‘will reject restrictive conditions’ – The Times of India
At a time when India is engaged with the US and European Union for trade talks, Commerce Minister Piyush Goyal has made it clear that no trade deal will be signed in a hurry. “We are in active dialogue with the EU. We are talking to the US, but we do not do deals in a hurry and we do not do deals with deadlines or with a gun to our head,” Goyal said at the Berlin Global Dialogue according to a Reuters report. Goyal said that India will not rush into any trade deals. He also said that any conditions that may be set by partner countries that restrict India’s trading options will be rejected.
The EU-India free trade agreement discussions continue, but there are unresolved matters concerning market accessibility, environmental protocols, and origin regulations. These negotiations have been ongoing for an extended period.Also Read | Trump’s sanctions on Russian oil: How Reliance, Nayara Energy earnings will be hit – explainedAlongside these talks, India is also actively pursuing trade deal discussions with several countries, including the United StatesGoyal’s comments come at a time when India is facing pressure from the Donald Trump administration and the European Union for its continued purchases of Russian crude oil. The US has imposed 50% tariffs on Indian exports to America, 25% of which are penal duties for India’s crude oil trade with Russia.The European Union, United Kingdom and United States are urging New Delhi to reduce its imports of Russian crude at discounted rates, which Western countries allege supports Moscow’s military operations in Ukraine.India has shown openness to procure US energy and diversify its crude basket, but has been firm on its right to decide the source of crude oil purchases based on the interests of Indian consumers.US President Donald Trump has claimed that PM Narendra Modi has committed to reducing Russian crude oil trade, but no official word on the same has come from India’s side. Meanwhile, Trump has this week imposed sanctions on two major Russian crude suppliers – Rosneft and Lukoil – a move that may eventually force China and India to reduce their procurement of Russian oil.Also Read | No oil from Russia soon? Trump sanctions to hit India’s crude imports; ‘all but impossible for flows to continue’
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Shares of metal companies rallied sharply on October 24, defying the broader market downturn
Metal Stocks
Metal Shares Gain: Shares of metal companies rallied sharply on October 24, defying the broader market downturn. The surge pushed the Nifty Metal index up more than 2% to 10,457.40 in early trade before paring some gains to trade 1% higher at 10,359 around noon.
Here are the key factors driving the rally in metal shares:
1. Trump–Xi Meeting Hopes Ease Trade Concerns
Global metal prices surged after the White House confirmed that U.S. President Donald Trump will meet Chinese President Xi Jinping in South Korea on October 30, as part of Trump’s Asia visit.
The announcement came amid renewed trade tensions following Trump’s plan to raise tariffs on Chinese imports to 155%. Investors are now hopeful that the meeting could ease trade hostilities, improving the global demand outlook for metals.
White House Press Secretary Karoline Leavitt said Trump’s itinerary includes stops in Malaysia, Japan, and South Korea, following his address at the APEC CEO Summit.
2. Metal Prices Rise on Tight Supply and Global Stimulus Hopes
Aluminium prices on the London Metal Exchange (LME) climbed past $2,850 per tonne, supported by strong demand and tightening supply. The rally was further fueled by expectations of monetary easing from major central banks.
Adding to the supply crunch, a smelter in Iceland temporarily shut operations due to equipment failure, likely affecting 100 kt of production. Copper prices also advanced about 2% on the LME.
3. US Fed Rate Cut Expectations Lift Sentiment
Optimism around further rate cuts by the U.S. Federal Reserve added to the positive momentum. According to a Reuters poll, the Fed is expected to cut interest rates by 25 basis points to 3.75–4% on October 29, with another potential cut in December.
Lower rates generally boost non-yielding assets like commodities, supporting investor appetite for metals.
4. Top Metal Gainers
National Aluminium Company (NALCO) shares have gained more than 4 percent, while Hindalco Industries and Hindustan Copper shares have gained more than 3 percent each. Vedanta shares were up nearly 3 percent.
Earlier during the day, Hindalco shares hit a 52-week high of Rs 826.50 apiece. This comes after its subsidiary Novelis said that its fire-damaged plant in Oswego will restart by the end of December, earlier than expected.
Hindustan Zinc shares gained around 2 percent, while NMDC, Jindal Stainless Steel, Steel Authority of India (SAIL) and Jindal Steel and Power shares were up around 1 percent each.
Heavyweights Tata Steel and JSW Steel shares were trading in the green with marginal gains.
Bucking the trend, APL Apollo Tubes, Welspun Corp and Adani Enterprises shares were trading in the red.
Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
October 24, 2025, 13:33 IST
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