JUNE 07: In a remarkable display of digital adoption, Jammu & Kashmir Bank reported processing a staggering ₹13,900 crore through 9.54 crore digital transactions in the six days leading up to Eid. This surge underscores the region’s rapid shift towards digital banking solutions, particularly during festive periods.
The bank’s mobile application, mPay Delight+, accounted for 3.07 crore transactions amounting to ₹5,383 crore. Simultaneously, Unified Payments Interface (UPI) services facilitated 6.07 crore transactions worth ₹4,563 crore. The remaining transactions were conducted via ATMs, Kiosk Banking, and other digital platforms.
Despite the high transaction volume, J&K Bank’s digital infrastructure maintained 100% uptime, efficiently handling over 13,000 transactions per minute without any service disruptions. This performance highlights the bank’s commitment to providing seamless digital services to its customers.
Local businesses and customers have lauded the bank’s digital services. Ashraf Sultan, proprietor of Azka Namkeen, noted, “Eid is the busiest time for us, and JK Bank’s digital services handled the surge exceptionally well. Our UPI transactions were processed instantly, ensuring a hassle-free experience for customers.” Similarly, Sameer Mushtaq from Anantnag shared, “In the past, festive seasons meant delays in digital payments, but this Eid was different. JK Bank’s mPay and UPI services worked flawlessly, making transactions quick and effortless.”
The bank’s achievement aligns with the broader national trend of increasing digital payment adoption. According to recent data, India’s digital payments ecosystem witnessed robust growth in FY2024-25, with transaction volumes surging 34.8% year-on-year. UPI continued to dominate the retail segment, contributing 84% of all retail digital transactions by volume.
J&K Bank’s success in managing such a high volume of digital transactions during a peak period not only reflects its technological capabilities but also indicates a significant shift in consumer behavior towards digital payment methods. As digital infrastructure continues to evolve, such milestones pave the way for a more inclusive and efficient banking ecosystem in the region.