UPI transactions
UPI Transactions Soar to Record Rs 27.28 Lakh Crore in October: India's Digital Payment Revolution
Nov 03, 2025 07:25 pm CST
October 2023 witnessed a landmark achievement in India's digital economy as UPI transactions reached an unprecedented Rs 27.28 lakh crore in value and 20.7 billion in volume, driven by festive spending. This represents a 16% year-on-year growth and cements UPI's position as India's dominant payment system, now accounting for 85% of all digital transactions and expanding internationally across seven countries.
India's Digital Payment Revolution: UPI Dominates with 85% Share as Digital Transactions Reach 99.8% of Total Volume
Oct 23, 2025 10:05 pm CST
According to the RBI's June 2025 Payment System Report, digital payments now account for 99.8% of transaction volume and 97.7% of value in India's payment ecosystem. UPI leads with 85% of transaction volume, while RTGS dominates value at 69%. This digital transformation shows remarkable growth from 2019-2025, with UPI transactions increasing from 1,079 crore to over 17,221 crore annually, demonstrating India's rapid shift toward a cashless economy.
UPI Transactions Surge to Record Rs 94,000 Crore Daily in October Festive Season
Oct 22, 2025 03:35 pm CST
India's Unified Payments Interface (UPI) has experienced a dramatic 13% surge in daily transaction value during October, reaching Rs 94,000 crore due to Diwali spending and GST rate cuts. With unprecedented daily volumes of 695 million transactions and potentially hitting Rs 28 lakh crore monthly for the first time, this represents one of UPI's strongest growth periods in recent years.
RBI Governor Confirms No Plans to Charge for UPI Transactions While Considering Digital Enforcement for Credit Purchases
Oct 01, 2025 05:01 pm CST
RBI Governor Sanjay Malhotra has affirmed there are no plans to levy charges on UPI transactions, while the central bank evaluates a proposal for remotely locking phones purchased on credit during payment defaults. The RBI has also raised India's GDP growth projection to 6.8% for the current fiscal year, with Malhotra expressing confidence in continued economic growth alongside price stability.