NPCI Surplus Crosses ₹1,500 Crore in FY25, Revenue Rises to ₹3,270 Crore

The National Payments Corporation of India (NPCI), the backbone of India’s digital payments ecosystem, has reported a remarkable 42% surge in standalone net profit (termed as ‘surplus’) to ₹1,552 crore in FY25, according to provisional data from ICRA. The organisation also witnessed a 19% growth in revenue, which stood at ₹3,270 crore for the fiscal year ending March 2025. This growth underscores NPCI’s pivotal role in managing the country’s flagship payment platforms, including UPI, IMPS, and RuPay, as digital transactions continue to surge across India.

Why in News?

NPCI’s FY25 financials indicate significant profit and revenue growth. Surplus reached ₹1,552 crore — a 42% increase from FY24. Revenue crossed ₹3,270 crore amid growing UPI transaction volumes. These figures come at a time when the UPI ecosystem faces scrutiny over sustainability, outages, and demand for MDR by fintechs.

Background & Structure

• NPCI was established by the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA).
• Registered as a not-for-profit organisation, it refers to net profit as surplus in its financial statements.
• Owned by a consortium of Indian banks.
• NPCI serves as the central infrastructure for digital payments in India.

Key Functions

Operates critical platforms like,

• UPI (Unified Payments Interface)
• IMPS (Immediate Payment Service)
• AePS (Aadhaar-enabled Payment System)
• NACH (National Automated Clearing House)
• RuPay card network

Manages subsidiaries

• NIPL (NPCI International Payments Limited) – Global outreach of NPCI platforms.
• NBBL (NPCI Bharat BillPay Limited) – Digital bill payment aggregator.

FY25 Financial Highlights (Provisional – as per ICRA)

• Standalone Net Profit (Surplus): ₹1,552 crore (vs ₹1,095 crore in FY24) → 42% growth
• Revenue: ₹3,270 crore (vs ₹2,749 crore in FY24) → 19% growth
• Final audited financials to be released by CAG later.

UPI Ecosystem & Performance

• UPI accounts for 85%+ of all digital transactions in India.
• Daily UPI transactions: 600-650 million
• May 2025: 18+ billion transactions worth ₹25 lakh crore
• On track to surpass Visa in daily transaction volume globally.

Challenges & Controversy

• Fintechs demand Merchant Discount Rate (MDR) for sustainability.
• Government reaffirmed zero MDR to promote widespread digital adoption.
• NPCI has faced multiple UPI outages in recent months, leading to user complaints.

RuPay Growth

• In debit cards, RuPay holds 80%+ market share.
• RuPay credit cards can now be linked to UPI, boosting their usage against Visa and Mastercard.