UPI hits record 9 billion transactions worth Rs 14 lakh crore

UPI hits record 9 billion transactions worth Rs 14 lakh crore

• The Unified Payments Interface UPI registered record more than nine billion transactions last month amounting to over 14 lakh crore rupees.
• According to the National Payments Corporation of India NPCI, UPI recorded a total 9.41 billion transactions in May 2023.
• UPI had recorded 8 billion transactions in January this year, followed by 7.5 billion in February, 8.7 billion in March, and 8.89 billion in April. In Financial Year 2022-23, the payment system processed a total of 83 billion transactions, amounting to a value of 139 lakh crore rupees.
• India's homegrown payments system Unified Payments Interface UPI is one of the globally accepted payment systems and has emerged as a trusted payment mode ever since its launch in 2016.

Also Read: April Weekly Current Affairs (Economy) Bitbank: Which bank has introduced the EMI facility for UPI payments?

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Published date : 02 Jun 2023 05:56PM