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6 Billion UPI Transaction in July 2022


6 Billion UPI Transaction in July 2022

 

The NPCI ( National payments corporation of India) released a data based on UPI (Unified payments interface) stated that it nearly crosses  6 billion transaction over UPI in July 2022. It is the highest transaction through UPI since it was launched in 2016. 

 

v  UPI recorded 6.28 billion transaction on July 2022, which was accounted for 10.62 trillion.

v  The amount of transaction was increased by 7.16 per cent, while the value was increased by 4.76 per cent , month by month.

v  The UPI for the first time crossed 1 billion transaction on October 2019, considered next 1 billion reached on October 2020.

v  Year by year the amount of transaction increase by two folds and the value of transaction increased up to 75%.

v  The UPI reached 3 billion to 4 billion  transaction per month in just three months. 

v  It is noted that 1 billion transaction mark  were achieved in six months. 

v  In this financial year the UPI  were made more than 46 billion transactions amounting to 84.17 trillion.

v  It is the result of rapid adoption of digital transaction in India that people find it very comfortable and secured.

v  The UPI has a target to achieve that, it will process  billion transactions per day in upcoming five years.

 

 National payments corporation of India (NPCI)

            The National Payments Corporation of India is a division of RBI, that works under the Ministry of Finance. It was established in 2008 to operate payments and settlements across India.  

6 Billion UPI Transaction in July 2022