In 2023, the number of direct debit transfers per inhabitant in India stood at 0.58. The forecast for 2024 to 2028 shows a steady rise in this figure, reaching 0.7 by 2028. This indicates a consistent year-on-year growth, beginning with a 3.3% increase from 2024 to 2025, followed by a 4.8% increase from 2025 to 2026. The compound annual growth rate (CAGR) over this forecast period is approximately 3.94%, reflecting a moderate but steady upward trend in direct debit usage.
Future trends to watch for include technological advancements in financial services, increased adoption of digital banking, and government initiatives to promote a cashless economy, which could further accelerate this growth.
