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A record number of UPI (Unified Payments Interface) transactions were recorded during the monsoon season. In October, 1,658 crore transactions took place…the value of which was Rs.23.5 lakh crore.
These are the highest payments made in a single month since the digital payment method came into effect in April 2016. In terms of value, transactions of Rs 20.64 lakh crore were done in July 2024, and in terms of volume, transactions of 1,504 crore in September this year were the highest so far.
October saw the highest growth in payment transactions from person to business (for purchases of goods and services). As a result, for the first time, UPI transactions crossed Rs 1,600 crore in terms of volume and Rs 23 lakh crore in terms of value. National Payments Corporation of India (NPCI) revealed that there was a growth of 10% in volume and 14% in value in October as compared to September.
