Business Desk, AnyTV, New Delhi
Published by: Deepak Chaturvedi
Updated Thu, 02 Jun 2022 12:18 PM IST
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There has been a tremendous increase in the number of transactions through UPI in the country. According to the data released by the National Payments Corporation of India, UPI transactions crossed Rs 10 lakh crore in the month of May. This is a record so far.
If we look at the data of NPCI, in May 2022, a total of 5.95 billion transactions were done through the Unified Payment Interface (UPI), with a total amount of Rs 10.41 lakh crore. Earlier in the month of April, 5.58 billion UPI transactions were done and the transaction amount was Rs 9.83 lakh crore. It should be noted here that the number of transactions has more than doubled as compared to the same period last year. In May 2021, the number of UPI transactions stood at 2.54 billion. On a month-on-month basis, the number of transactions has jumped 7 per cent in May, while the amount has increased by 6 per cent.