UPI drives credit, insurance access for millions: FM
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Union Finance Minister Nirmala Sitharaman
New Delhi: India's Unified Payments Interface (UPI) has become the world's largest real-time payment system, processing more than 2,400 crore transactions a month, or nearly 80 crore transactions every day, Union Finance Minister Nirmala Sitharaman said on Sunday.
Addressing the inauguration of the Reserve Bank of India's Greenfield Data Centre and Training Institute by Prime Minister Narendra Modi in Khordha, Odisha, FM Sitharaman said UPI's annual transaction volume has increased around 13,000 times since 2016-17.
She noted that the platform now processes more than 2,400 crore transactions in a single month, equivalent to nearly 80 crore transactions every day, underscoring the scale and adoption of India's digital payments infrastructure.
"UPI has become the world's largest real-time payment system. Its annual transaction volume has grown around 13,000 times since 2016–17, and it now handles over 2,400 crore transactions in a single month, or nearly 80 crore transactions every day," the finance minister noted.
