36% UPI transaction increase in India's first fiscal quarter, reaching 4,122 crore transactions worth Rs 60 lakh crore.

36% increase in UPI transactions in India's first fiscal quarter: India's Unified Payments Interface (UPI) transactions increased by 36% in the first three months of the current fiscal year, reaching a total of 4,122 crore transactions worth Rs 60 lakh crore ($728 billion), according to Minister of State for Finance Pankaj Chaudhary. The expansion of UPI-based transactions reflects increased trust and reliance on digital payment systems in India. The Reserve Bank of India is considering expanding UPI globally and integrating it with other fast payment systems worldwide to facilitate faster payments and reduce the dependence on cash.

August 05, 2024
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