UPI hits record 5.58 Bn transactions worth Rs 9.83 trillion in April 2022

According to the National Payments Corporation of India (NPCI), Unified Payments Interface (UPI), India’s flagship digital payments platform, has recorded 5.58 billion(bn).

According to the National Payments Corporation of India (NPCI), Unified Payments Interface (UPI), India’s flagship digital payments platform, has recorded 5.58 billion(bn) transactions worth Rs 9.83 trillion in April 2022. This is the highest ever number of transactions recorded by UPI. The monthly UPI recorded a 3.33 % increase in transaction volume from 5.4 billion transactions worth Rs 9.6 trillion in March 2022.

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Key points:

Compared to April 2021, the transaction volume increased by 111% and the transaction value increased by nearly 100%. In April 2021, UPI processed 2.64 billion transactions worth Rs 4.93 trillion.
The UPI had breached the USD 1 trillion mark in transaction values in the financial year 2021-22.

Important takeaways for all competitive exams: