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Informist, Monday, Jun. 2, 2025

 

MUMBAI – Unified Payments Interface transactions jumped to a record high of 18.68 billion in May, up 33% on year, according to data from the National Payments Corp. of India. In value terms, UPI transactions increased 23% on year in May to an all-time high of INR 25.14 trillion.

 

UPI transactions had hit a record high of 18.30 billion in March, but slipped to 17.89 billion in April. UPI transactions in value terms also declined in April to INR 23.95 trillion from INR 24.77 trillion in the previous month. 

 

The average daily transaction count was 602 million in May, higher than the 596 million daily transactions recorded in April. The average daily transaction amount was INR 811.06 billion last month, against INR 798.31 billion in April, data showed.

 

Finance Minister Nirmala Sitharaman Saturday said the government wanted lower cash transactions in the economy and the currency to be more digitised. According to the Reserve Bank of India's latest annual report, the share of digital transactions in the total volume of non-cash retail payments was 99.9% during 2024-25 (Apr-Mar). UPI transactions had the highest share in total retail payments during FY25 at 84%.  End

 

Reported by Shubham Rana

Edited by Avishek Dutta

 

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