look news india
Indian PM Modi, who is on a visit to Poland, interacted with the Indian community in Warsaw. Referring to India's digital revolution, he said that every day in India, there are as many UPI transactions as the population of the European Union.
Union Minister Ashwini Vaishnav posted a picture of the success of digital public infrastructure in India. It showed that the population of the EU is 448 million while the number of daily UPI transactions in India is 466 million. In August, 9840.14 million UPI transactions have been done in India in the last 20 days alone. Which points to the growing importance of cashless financial transactions in India. The Unified Payment Interface (UPI) system, which is important for the country's economy, has been rapidly adopted in the country. According to NPCI, UPI payments in the country have grown 45 percent year-on-year and a total of Rs. 20.64 trillion worth of transactions were recorded.
UPI transactions cross Rs 20 trillion for the third consecutive month
For the third consecutive month, UPI financial transactions in the country reached Rs. 20 trillion mark. Which was Rs. 20.07 trillion in June 2024 and Rs. 20.44 trillion in May 2024. The average daily UPI transaction in July 2024 was 466 million i.e. about Rs. 66,590 crore.