New Delhi: The central government is trying to promote digital transactions in the country. The government wants to take the country towards cashless economy. The government is also getting success on this front. Global technology company Finance Software and Systems (FSS) said that financial transactions through mobile banking have increased tremendously during the first six months of this year. According to the company, there were 29.4 million transactions through mobile banking in the first half of 2019-20. The total value of these transactions is US $ 9 billion.
According to the company's president Suresh Rajagopalan, the FSS Digital Banking Trends 2019 report was conducted across the country between January to June. He said the findings of the study would help improve the performance of banks' internal channels, as well as identify areas to make a higher return on investment. Describing some important information, he said, 'In the first half of 2019, FSS conducted 294 million transactions, totaling US $ 9 billion. According to a study, while the share of financial transactions is 25 percent, the share of non-financial transactions like balance inquiry, mini statement etc. is 75 percent.
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