On July 29, Reserve Bank of India (RBI) report stated that India’s digital economy will grow from 10% to 20% of GDP by 2026. RBI Governor Shaktikanta Das emphasized that digitalization is revolutionizing banking and financial services. Innovations like UPI, India Stack, and digital lending are driving this growth. India has the world’s lowest data cost at Rs 13.32 per GB and high data usage at 24.1 GB per month per user. Challenges include cybersecurity and data privacy, which need addressing for sustained growth.
