The UPI transaction was 19.78 lakh crore a year ago this month.
Transactions through Unified Payments Interface (UPI) in India are constantly touching new heights. The transaction through UPI touched a record high level of Rs 24.77 lakh crore in March, which records 12.7 percent growth compared to the previous month. The price of UPI transactions in February was Rs 21.96 lakh crore. According to PTI news, the National Payments Corporation of India (NPCI), an institute operating the UPI platform, has released the latest data.
25 percent increase in price and 36 percent increase in quantity
According to the news, the NPCI says that the price of the transaction was Rs 24.77 lakh crore in March, compared to Rs 19.78 lakh crore this month a year ago. Spice Money founder and CEO Dilip Modi said in a statement that the UPI transaction, which broke a record of Rs 24.8 lakh crore in March 2025, reflects a 25 percent increase in price and a 36 percent impressive increase in the price compared to last year, showing the unstable speed of India’s digital payment revolution.
Everyday there was a transaction
Dilip Modi said that on an average, on an average, it was Rs 79,903 crore, which is 1.9 percent higher than February and the volume has increased by 2.6 percent. These numbers outline digital financial solutions and rely on them. NPCI is an initiative of the Reserve Bank of India (RBI) and the Indian Banks of Union, which is a Chhatra organization for the operation of retail payment and settlement system (IBA) in India. The NPCI runs the Unified Payments Interface (UPI), which is used between peers or for real -time payment when shopping.
Government has taken this initiative
The Union Cabinet has approved an incentive scheme of about Rs 1,500 crore to promote Bhima-UPI transactions worth less than Rs 2,000 for FY 2024-25. Under this scheme brought for the benefit of common people and small shopkeepers, the government will bear the MDR (merchant discount rate) expenditure on payment of less than Rs 2,000 by a person.
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