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Upi Transactions Surge In India

UPI Transactions Surge in India

Over 60 Lakh Crore Recorded in Q1 of FY23

The Unified Payments Interface (UPI) has witnessed an unprecedented surge in transactions in India, with a staggering 36% increase in the first quarter of the current fiscal year. As reported by Minister of State for Finance Pankaj Chaudhary in the Lok Sabha, a total of 4122 crore UPI transactions were processed between April and June 2024, amounting to a massive Rs 60 lakh crore.

A Boost to Digital Payments

This sharp rise in UPI transactions reflects the growing adoption of digital payments in India. From a mere 125 billion transactions in 2019-20, the volume has soared to 131 billion in 2023-24, accounting for a remarkable 80% of all digital payments in the country.


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