look news india
UPI has It has contributed significantly to the development of the digital economy. Due to which making payments has become a difficult task. Due to the ease of payment through UPI, it has become the preferred medium of people. Due to this, a new record of payment through UPI was created in May.
Traction surpasses 14 billion for the first time
According to data from the National Payments Corporation of India (NPCI), 14.04 billion transactions were made through UPI in May. This is the first time in history that more than 14 billion transactions have been processed through UPI in a single month.
Transactions declined in April
Earlier in the month of April, 13.3 billion transactions were done through UPI. During the month of April, a slight decline was seen in the transactions through UPI. In the month of March, a total of 13.44 billion transactions were done through UPI. The figure of April was about 1 percent less in comparison to this.
There was such a boom according to the price
Even in terms of value, transactions through UPI have registered tremendous growth. According to the data, the value of all transactions done through UPI in May was Rs 20.45 lakh crore. A month before that, in April, transactions worth Rs 19.64 lakh crore were done through UPI. This means that in a month, transactions through UPI have increased by more than 4 percent in terms of value.
49 percent increase in daily transactions
Last month, an average of 45.3 crore transactions took place per day using UPI. The average daily transaction amount was Rs. 65,966 crore. This is an excellent growth of 49 percent year-on-year.
Plan to make UPI global
This figure has come at a time when the Reserve Bank has recently announced a plan to popularize UPI outside the country. RBI aims to use UPI in at least 20 other countries. Success has already been achieved in this direction and transactions through UPI have started in many countries including Sri Lanka, Nepal, UAE.
