70,000 Cr+ UPI transactions daily! This is how Digital India has been during PM Modi's 11-year tenure.
The office of Union Finance Minister Nirmala Sitharaman on Monday told about the journey of Digital India during PM Modi's 11-year tenure. Know about this in detail here.
Today marks 11 years of PM Narendra Modi's tenure. At the same time, Modi 3.0 has completed one year today. The election results were declared on June 4 last year and on June 9, Narendra Modi became the Prime Minister of the country for the third time. On this occasion, the office of Union Finance Minister Nirmala Sitharaman on Monday told about the journey of Digital India during PM Modi's 11-year tenure and how India is adopting the cashless revolution with world-class digital initiatives like Unified Payments Interface (UPI).
More than 70,000 crore UPI transactions in 1 day
The office of Finance Minister Nirmala Sitharaman said on social media platform X that in the last 11 years, India has experienced a wonderful journey under the leadership of Prime Minister Narendra Modi. India is adopting the cashless revolution. With UPI transactions worth over Rs 70,000 crore every day and 59.6 crore transactions in a single day, digital payments have now become the norm."
Record 18.68 billion transactions in May
From making the life of the common citizen easier to boosting business confidence, it has been a decade of real and visible change, Finance Minister Nirmala Sitharaman's office further said. India today is not only the fastest growing major economy but also a major global partner on important issues such as climate action and digital innovation. UPI recorded strong growth by recording 18.68 billion transactions in May this year, up from 17.89 billion in April.
These are the NPCI figures
According to data from the National Payments Corporation of India (NPCI), UPI transactions show a growth of over 33 per cent year-on-year as compared to 14.03 billion transactions in the same month last year. UPI by value last month Transactions rose to Rs 25.14 lakh crore, up 5 per cent from Rs 23.95 lakh crore in April. This represents a growth of nearly 23 per cent from Rs 20.45 lakh crore in May last year.
The average daily transaction volume stood at 602 million in May, while the average daily transaction amount reached Rs 81,106 crore. UPI has consolidated its dominance in India's digital payment system and its share in total transaction volume has grown from 79.7 per cent in the previous fiscal to 83.7 per cent in 2024-25. The RBI's annual report shows that UPI facilitated 185.8 billion transactions during 2024-25, showing a growth of 41 per cent year-on-year. In terms of value, UPI transactions are expected to grow from Rs 200 lakh crore in FY24 to Rs 261 lakh crore. Went.
