UPI Transactions Surge to Record Highs in December

Unified Payments Interface (UPI) transactions in India reached a record 16.73 billion in December, an 8% increase from the previous month. The transaction value hit Rs 23.25 lakh crore, up from Rs 21.55 lakh crore. The average daily transaction count and value also saw significant growth.

The Unified Payments Interface (UPI) in India witnessed a significant boom, with transactions reaching an unprecedented 16.73 billion in December, according to data from the National Payments Corporation of India (NPCI).

This marks an 8 per cent growth compared to November's 15.48 billion transactions. December's transaction value soared to Rs 23.25 lakh crore, compared to Rs 21.55 lakh crore in the prior month.

On average, daily transactions climbed to 539.68 million from November's 516.07 million, while the transaction value rose to Rs 74,990 crore from Rs 71,840 crore. NPCI, a joint initiative by the Reserve Bank of India and the Indian Banks' Association, operates UPI for seamless real-time payments.

(With inputs from agencies.)