From January to August, Rs. 3 lakh crore digital transactions

(PTI) New delhi date. 3

"There should be no compromise with data privacy to protect people's data at a time when digital payments are on the rise," Finance Minister Nirmala Sitaram said in a statement.

Addressing the fintech industry, the finance minister said that from January to August this year, a total of more than Rs 3 lakh crore of digital transactions were transacted. This amount was Rs 4 lakh crore in 2020 and Rs 2 lakh crore in 2014.

He further said that in my opinion the security of consumer data is very important to restore trust. No one is willing to do such a thing until data security is ensured.

A report titled UN Principles for Responsible Digital Payments was also presented at the event. "I am delighted to present this report as it is a necessity of the times," he said.

The Finance Minister further said that India is becoming a hub of digital activity and digital payments across the globe.