Gujarat has witnessed a significant rise in digital banking usage, with 6.99 crore savings accounts now equipped with digital banking services as of March 31, according to the State Level Bankers’ Committee (SLBC) data. This growth indicates the increasing integration of banking services with digital platforms in the state, supported by enhanced infrastructure and policy-driven financial inclusion efforts. Among savings account holders in Gujarat, 70.49% possess debit cards, and 63.19% utilize digital banking channels like UPI, mobile banking, and USSD-based services for transactions even without internet connectivity.
Moreover, 79.20% of account holders in Gujarat utilize Aadhaar-enabled banking services, emphasizing the importance of identity-linked financial access in expanding financial outreach. The state currently has 1,98,52,734 beneficiaries under the Pradhan Mantri Jan Dhan Yojana and has issued 1,51,79,955 RuPay cards as part of government-backed financial inclusion initiatives. The expansion of digital services in the banking sector has led to increased adoption of cashless payment systems, particularly the Unified Payments Interface (UPI), which has become a key element in retail digital transactions in India since its launch in 2016.
National data reveals a substantial growth in UPI transactions, from crore in 2016-17 to 24,162 crore in 2025-26, marking a 12,000-fold increase. The total value of transactions has surged from Rs 0.07 lakh crore in 2016 to Rs 314 lakh crore in 2025-26, indicating a 4,000-fold rise in transaction value over the period. India now processes an average of around 66 crore UPI transactions daily, with an average daily transaction value of approximately Rs 0.86 lakh crore. The number of banks integrated into the UPI network has increased from 21 in 2016 to 703 by March this year.
UPI currently dominates India’s digital payments landscape, accounting for about 85% of the ecosystem and extending its usage to international markets like the United Arab Emirates, Singapore, France, Bhutan, Nepal, Sri Lanka, Mauritius, and Qatar. The expansion of digital payments in India is complemented by the growth of the country’s overall digital infrastructure, with internet users surging from around 25 crore users 12 years ago to over 100 crore users today. The BharatNet program, aimed at providing broadband connectivity to rural local bodies, has expanded from 546 gram panchayats a decade ago to approximately 2.14 lakh gram panchayats currently, as per official data.
Officials highlight that the combined progress in digital banking access, payment systems, and online service delivery has enhanced financial inclusion and accessibility to government and banking services. In Gujarat, indicators of digital adoption continue to exhibit sustained growth across various channels.
