Digital money transfer has become increasingly popular among the people in the last few years. In this regard, the number of money transactions through India's Unified Payments Interface (UPI) is increasing every month.
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| Upi money transactions |
What is the growth in UPI transactions in India
New Delhi: UPI transactions hit a new high of 1.70 crore in January, according to NBCI data.
Accordingly, UPI transactions increased by 1.60 per cent to 1.69 crore in January, up from 1.67 crore in December 2024.
This is a new record in terms of number since the digital payment system was launched in April 2016.
This is a new record in terms of number since the digital payment system was launched in April 2016.
The number of daily transactions for January was 1.43 crore, up from 1.42 crore in December. The value of daily transactions increased to Rs 19,562 crore in January.
Compared to the same month of the previous fiscal, the number of digital money transactions in January increased by 39 per cent and by 28 per cent in value.
Similarly, the number of transactions in other digital money transactions, such as 'IMPS', also increased by 0.70 per cent to 44.4 crore in January.
This was 44.1 crore in December. In value terms, it was Rs 6.06 lakh crore in January.
Another transaction, 'FASTag', decreased by 0.50 per cent to 38 crore in January.
This was 38.2 crore in December. In value terms, it was Rs 6,614 crore, the data shows.
Similarly, the number of transactions in other digital money transactions, such as 'IMPS', also increased by 0.70 per cent to 44.4 crore in January.
This was 44.1 crore in December. In value terms, it was Rs 6.06 lakh crore in January.
Another transaction, 'FASTag', decreased by 0.50 per cent to 38 crore in January.
This was 38.2 crore in December. In value terms, it was Rs 6,614 crore, the data shows.
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