Credit Card adoption doubles over past five years
According to a report by the RBI, the number of credit cards in circulation has more than doubled in the past five years, reaching around 10.80 crore by December 2024, up from 5.53 crore in December 2019. In contrast, the number of debit cards has remained relatively stable, rising marginally from 80.53 crore in December 2019 to just over 99.09 crore in December 2024. The report, released on Monday, highlighted the rapid growth of digital payments in India over the last decade.
In 2013, there were 222 crore digital transactions worth ₹772 lakh crore. By 2024, the number of transactions had increased nearly 94 times to 20,787 crore, with the total value rising 3.5 times to ₹2,758 lakh crore.
Train service every four minutes on Mauni Amavasya
A massive crowd of devotees is gathering for the ongoing Maha Kumbh Mela in Prayagraj, Uttar Pradesh, especially for the holy baths. So far, crores of devotees have participated in the event, which began on January 13, and around 10 crore pilgrims are expected to take a dip on Mauni Amavasya, January 29.
To facilitate their journey, Indian Railways has made special arrangements, running trains every 4 minutes from stations in Prayagraj. Mauni Amavasya is one of the most significant bathing days, and railway officials have announced that at least 150 special trains will operate on this day, marking a major achievement.
Increase in Private Investment in India
According to a report by the State Bank of India (SBI), private investment in India is expected to reach its highest level in eight years as a percentage of GDP in FY24.
The report highlights a strong revival in private corporate investment, estimating that it will reach 12.5% of GDP in FY24, up from 11.9% in FY23, the highest since FY16. The FY24 data, to be released at the end of February, is expected to show a near 12.5% share.
This increase is attributed to investments made by private companies, as well as significant investment decisions. The report also noted that government investment has reached a significant milestone, with government spending accounting for 4.1% of GDP in FY23, the highest since FY12, reflecting investments in infrastructure and other sectors.
Royal Enfield Hunter 350 sells 5 lakh bikes
The Royal Enfield Hunter 350 has received a very positive response since its launch in India. The bike has now crossed the milestone of 5 lakh units sold in the country, a figure officially confirmed by the company.
Launched in August 2022 with a starting price of ₹1.49 lakh (ex-showroom), the Hunter 350 sold 1 lakh units in its first year and another 1 lakh units in the following 5 months.
It took 2.5 years to reach the 5 lakh sales mark in 2025. The Hunter 350 has become one of the top-selling products in RE's 350 range.
UPI's share increased to 83%
The share of Unified Payments Interface (UPI) in India's digital payments system has risen to 83% in 2024, compared to 34% in 2019, according to an RBI report. During this period, UPI has grown at a compound annual growth rate (CAGR) of 74%. The report shows that the share of other payment systems like RTGS, NEFT, IMPS, credit cards, and debit cards has fallen from 66% to 17% over the same period.UPI has remained at the forefront of the country's development in digital payment infrastructure, primarily through this ease of use. The volume of UPI transactions grew to 17,221 crore in 2024 against the 375 crore recorded in 2018, while the value increased from ₹5.86 lakh crore to ₹246.83 lakh crore. In the last five years, the volume and value of UPI transactions have grown at a CAGR of 89.3% and 86.5%, respectively.
OYO will add 500 hotels in 12 pilgrimage sites
OYO founder and CEO Ritesh Agarwal claimed that the hotel bookings in Prayagraj have increased two times of its existing quantity during the ongoing Maha Kumbh Mela 2025. Agarwal said that as millions of devotees thronged the confluence of the Ganga, Yamuna and mythical Saraswati rivers for a holy dip on January 27, 2025, he planned to expand 500 hotels across 12 centers of pilgrimage. This is expanding in order to provide peak accommodation requirement during such religious events as huge as Kumbh Mela.