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Festive Surge Drives UPI Near Record ₹29.8 Lakh Crore Milestone Across 24.5 Billion Transactions
UPI value rose 20% from a year earlier as festive activity and new use cases helped drive 24.51 billion transactions, NPCI data showed.
- On Tuesday, the National Payments Corporation of India reported that the Unified Payments Interface reached a record 24.51 billion transactions in August, surpassing the 23.66 billion recorded in July.
- Festive activity, including Raksha Bandhan, drove the surge, with transaction values reaching Rs 29.8 lakh crore in August and registering 20% annual growth compared to the same period last year.
- Deepak Chand Thakur, co-founder and CEO of Network People Services Technologies , emphasized that continued investment in resilient, intelligent infrastructure is essential to sustain India's leadership as new use cases like credit on UPI mature.
- Since launching on August 25, 2016, the UPI has reshaped India's financial landscape, with transaction values surging from Rs 0.07 lakh crore in FY17 to around Rs 314 lakh crore in FY26, a 4,000-fold increase.
- Beyond domestic dominance, the UPI continues expanding its international footprint, now accepted in 11 countries with Uzbekistan as the latest addition alongside Singapore, France, and the United Arab Emirates.
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UPI has touched record high levels. More than 24.5 billion transactions were made during the month of August, because digital payments have increased rapidly. Also, the payment for UPI has increased during the Rakshabandhan festival.
UPI transactions near record level of Rs 29.8 lakh crore in August
Transactions through the popular Unified Payments Interface (UPI) were at Rs 29.8 lakh crore in August, near the record-high level, according to data released by the National Payments Corporation of India (NPCI).
·Chennai, India
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Total News Sources13
Leaning Left3Leaning Right5Center1Last UpdatedBias Distribution56% Right
Bias Distribution
- 56% of the sources lean Right
56% Right
L 33%
11%
R 56%
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