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Informist, Monday, Dec. 15, 2025

 

NEW DELHI – Increasing digital payment transactions have also increased the risk of incidents of fraudulent practices, including Unified Payments Interface frauds, Minister of State for Finance Pankaj Chaudhary said Monday. Till November, more than one million cases of domestic Unified Payments Interface frauds were reported with a total of INR 8.05 billion involved in them, he told the Lok Sabha in a written response to a question.

 

In the financial year 2024-25 (Apr-Mar), 1.26 million such frauds had been reported with INR 9.81 billion involved. In FY24, more than 1.3 million fraudulent transactions were reported, involving INR 10.87 billion.

 

According to latest data provided by the National Payments Corp. of India, the number of Unified Payments Interface transactions rose to 20.47 billion in November, marking a 32% rise from a year ago. In value terms, UPI transactions increased 22% on year to INR 26.32 trillion in November.

 

"In order to prevent payment-related frauds, including UPI transaction frauds, various initiatives have been taken up by the government, the Reserve Bank of India, and NPCI from time to time," Chaudhary said. Two-factor authentication, daily transaction limit, are some of them, he said. The RBI and banks have also been taking up awareness campaigns to prevent these frauds, he added.  End

 

Reported by Sagar Sen

Edited by Rajeev Pai

 

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