UPI volume jumps 32 pc on Diwali to 916.9 million
In value terms, UPI transactions rose to Rs 90,029.43 crore on November 8 against Rs 88,350.79 crore last year
New Delhi, Nov 10 (PTI) Transactions through the popular Unified Payments Interface (UPI) witnessed a 32 per cent surge in volume terms on Diwali driven by last-minute festival buying.
UPI volume increased to 916.9 million on November 8 from 695.7 million transactions on the same day last year, according to data released by the National Payments Corporation of India (NPCI).
In value terms, UPI transactions rose to Rs 90,029.43 crore on November 8 against Rs 88,350.79 crore last year.
A day prior to Diwali, the transaction volume was 975.8 million resulting in transfer of Rs 1,36,118 crore.
UPI is an instant payment system developed by the NPCI. NPCI, an initiative of the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA), is an umbrella organisation for operating retail payments and settlement systems in India.
Last month, UPI transactions touched 25.47 billion while in value terms it was 31.53 lakh crore in entire October supported by festival buying.
As far as overseas presence is concerned, UPI now is accepted in 11 countries, with Uzbekistan being the latest entry.
The other countries where UPI is accepted are Singapore, the United Arab Emirates, France, Mauritius, Nepal, Bhutan, Qatar, Sri Lanka, Cambodia, and Greece.
The UPI, launched on August 25, 2016, has transformed India's digital payments landscape, with transaction value surging from Rs 0.07 lakh crore in FY17 to around Rs 314 lakh crore in FY26, a more than 4,000-fold increase over the decade. PTI