In October, 1,658 crore transactions were done through UPI (Unified Payment Interface). During this period, an amount of Rs 23.50 lakh crore was transferred. The number of transactions has increased by 45% as compared to October last year. UPI was launched in April 2016. Since then, this is the highest and largest transaction done in any one month. In October 2023, 1,141 crore transactions were done through UPI and an amount of Rs 17.16 lakh crore was transferred through it. This amount of transaction has increased by 37% in a year. Talking about the daily average transaction in October 2024, it was 53 crore 50 lakh and an average amount of Rs 75,801 crore was transferred daily. UPI transactions increased by 10.23% compared to September
At the same time, the number of transactions in October increased by 10.23% as compared to the previous month (September 2024). While the amount transferred increased by 13.85%. In September 2024, 1,504 crore transactions were done through UPI and an amount of Rs 20.64 lakh crore was transferred through it. National Payment Corporation of India (NPCI), the organization that regulates UPI, released the transaction figures today (November 1). There were 2,071 crore digital transactions in 2017-18. In the first five months (April-August) of the financial year 2024-25, 8,659 crore digital payments were made and a total amount of Rs 1,669 lakh crore was transferred through them. In the financial year 2017-18, 2,071 crore digital transactions were done and an amount of Rs 1,962 lakh crore was transferred through them. The number of transactions increased by about 9 times during this period. UPI is operated by NCPI. In India, the operation of RTGS and NEFT payment systems is with the RBI. Systems like IMPS, RuPay, UPI are operated by the National Payment Corporation of India (NPCI). The government had made a zero-charge framework mandatory for UPI transactions from January 1, 2020. How does UPI work? For UPI service, you have to create a virtual payment address. After this, it has to be linked to the bank account. After this, there is no need to remember your bank account number, bank name or IFSC code etc. The person making the payment simply processes the payment request according to your mobile number. If you have his/her UPI ID (e-mail ID, mobile number or Aadhaar number), then you can easily send money through your smartphone. Not only money, but you will not even need net banking, credit or debit card for utility bill payment, online shopping, shopping etc. You can do all these things with the Unified Payment Interface System. ………………….. Also read the news related to digital payments… 8,659 crore digital payments were made from April to August: ? 1,669 lakh crore was transferred through this; UPI transactions increased by 138% annually In the first five months (April-August) of FY 2024-25, 8,659 crore digital payments were made and a total amount of Rs 1,669 lakh crore was transferred through them. In the financial year 2017-18, 2,071 crore digital transactions were made and an amount of Rs 1,962 lakh crore was transferred through them. Click here to read the full news…
