PM Modi: In a historic milestone, UPI transactions in India crossed the mark of 10 Billion. Acknowledging the achievement, Prime Minister Modi also appreciated this rise and praised people in embracing digital progress.
PM Modi Appreciates Rise in UPI transactions
UPI transactions have achieved a remarkable milestone, surpassing 10 billion transactions in a single month, reaching an all-time high of 10.58 billion in August. The National Payments Corporation of India (NPCI) reported a significant year-on-year increase of 67% in UPI transactions during August. The total transaction amount saw a notable 47% year-on-year increase, reaching Rs 15.76 lakh crore in August.
Replying to NCPI’s post on X, PM Modi wrote, “This is exceptional news! It is a testament to the people of India embracing digital progress and a tribute to their skills. May this trend continue in the times to come.” In July, there were 9.96 billion UPI transactions, totalling Rs 15.34 lakh crore in the transaction amount. In June 2023, the UPI payments system recorded 9.34 billion transactions with a total transaction amount of Rs 14.75 lakh crore, as reported by NPCI.
See PM Modi’s tweet here
According to NPCI officials, India has been pursuing two key strategies. The first involves aiding in the development of digital infrastructure and platforms for partner nations while establishing commercial connections and partnerships with existing financial platforms to streamline payments for Indian travellers and migrants.
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