Document Type : Primary Research paper
Assistant Professor, Department of Commerce, Kristu Jayanti College, Bangalore - 77
this perspective covers the potential impact of Digital payment in Indian economy with special reference to Covid-19 on consumer payments, as we all know that people in the economy on first hand use more of cash for any kind of their purchase made and even few digital transaction also by linking the bank account details due to the virus which is spreading across the country made the consumer to use more of the mobile based applications to avoid direct contact with merchants in a view that it transfer the virus, this made a way to analyse how digital payment is contributing the economy and to know the mode of transactions settlement is happening in the economy and also in this paper the analysis is made on digital payment sector estimation in its transaction value. From this digital payment facility adopted and supported by all banks in economy is to protect the local business as well as super markets even it is concentrated for the other sectors of the society. Further India’s GDP growth rate is also discussed and analysed how the nationwide lockdown is affected the countries growth.