PERSONAL FINANCE
UPI transactions in India rose by 50 percent, crossing the 36-crore milestone.
UPI Payment in February 2023: Reserve Bank of India Governor Shaktikanta Das announced on Monday that daily UPI payments have increased rapidly, with a 50 percent rise in payments through UPI in a year, crossing the figure of 36 crores. During February 2022, the figure was 24 crores. In terms of value, these transactions amount to Rs 6.27 lakh crore, which is 17 percent more than the Rs 5.36 lakh crore recorded in February 2022. The governor inaugurated the Digital Payments Awareness Week at the RBI headquarters, where he informed that the total monthly digital payment transaction has crossed the Rs 1,000 crore mark every time for the last three months.
Das also noted that India's UPI payment system is being discussed globally, with many countries showing interest in it. After December 2022, more than 1 thousand crore transactions have taken place every month. A survey of Pan India digital payment found that 42 percent of people are making digital payments. The number of UPI transactions exceeded 800 crore in January 2023, while NEFT has done more transactions of 3.18 crore transactions on 28 February. UPI was launched in 2016, and since then, it has emerged as a famous and preferred payment mode.
According to the figures for January, UPI transaction volume has increased from 0.45 crore in January 2017 to 804 crore in January 2023. The value of UPI transactions has increased from just Rs 1,700 crore to Rs 12.98 lakh crore during the same period. Shaktikanta Das said that RBI will adopt 75 villages to promote digital payments. The PSOs will adopt 75 villages and convert them into digital payment-enabled villages, running digital payment awareness programs by involving the people of these villages.
Daily UPI payments have increased rapidly, reaching a significant milestone in terms of transaction volume and value. The global discussion around UPI payments and the RBI's plan to promote digital payments in villages indicate that UPI will continue to grow as a preferred payment mode.
Meet Gyanesh Kumar, IIT graduate, who becomes new Chief Election Commissioner
DNA TV Show: RSS' Bihar model ahead of Assembly elections in state
WPL 2025: Renuka, Wareham spark collapse as RCB bowl out Delhi Capitals for 141
Champions Trophy 2025: Ex-Pak cricketer says Pakistan don't deserve to win, 'Chal jaaye toh...'
Samantha Ruth Prabhu's Dippam Dappam dance leaves Chennai students awestruck, viral video
Breaking MS Dhoni's record is no big deal for Dinesh Karthik: 'It’s not something...'
Amid Mahakumbh rush, video of vehicle running on railway track goes viral; here's why
Who is Rohit Chopra? Indian-origin businessman called arrogant by JPMorgan CEO Jamie Dimon
All eyes on Mohammed bin Salman, as Trump, Putin and Zelensky set to meet in Saudi Arabia for...
WATCH: BJP office bearer dances to ‘Main Hoon Don’ flashing gun, FIR filed
Nepal student death: Massive protests at Odisha's KIIT University, students demand justice
Meet man, son of famous film actor, cracked UPSC exam with full-time job, his AIR was…
Mahakumbh 2025: Fire breaks out again at Prayagraj, no casualties reported
Gautam Adani, India's second richest man, donates Rs 2000 crore for setting up 20...
‘I am not a...’: Jaya Kishori BREAKS silence on her Rs 2.6 lakh Dior bag controversy, WATCH here
Dil Madharasi Teaser: Sivakarthikeyan impresses in rugged avatar, to face off against Vidyut Jammwal
PCB breaks silence on no Indian flags in Pakistani stadiums ahead of Champions Trophy 2025
Delhi residents report hearing mysterious ‘boom’ sound during earthquake; what caused it?
After Narayana Murthy's Infosys, Ratan Tata’s TCS makes BIG announcement, set to issue...
JPMorgan Chase CEO rejects hybrid work requests from employees amid layoffs says, ‘Don’t waste...'
Auspicious Start for 'Jatadhara': Mahurat ceremony held in Hyderabad
Kirill Yurovskiy: How to Build a Sustainable Fashion Brand in the UK
Bad news for Jhunjhunwala as the company loses Rs..., stock goes down by...
Audi launches Audi RS Q8 2025 in India: Know price, specifications and unique features
The Power of Ayurveda: Dr Shyam's Ayurveda Leads the Wellness Revolution in Dubai
15 Crucial Factors to Consider Before Choosing MBBS in Georgia 2025: Education Vibes
Narayana Dominates JEE Main 2025 Session 1 with Exceptional Results
Karan Johar says Yash Johar was 'heartbroken' when Amitabh Bachchan's... flopped: 'He believed...'
Meet Acharya Indravarman: The best astrologer in Bengaluru & Karnataka
How to increase your chances of getting a personal loan
After retaining Asia's richest family tag, now Mukesh Ambani's Reliance beats Apple to become...
Ex-star cricketer, wife buy luxury apartment for Rs 110000000, it is located in...
How a name change caused makers of Bira beer to lose hundreds of crores; know what happened
The Power of Networking: How IFERP memberships open doors to global opportunities for universities
India's Got Latent row: Maharashtra Cyber Cell refuses Samay Raina's special request to...
Mukesh Ambani's wife Nita Ambani makes passionate pitch for Olympics 2036, says 'India will...'
Jyotiraditya Scindia makes BIG announcement on 6G, claims internet speed will be...
Meet man, who was once member of MS Dhoni-led Chennai Super Kings, now works as a bus driver
Did Virat Kohli get special food delivery amid BCCI's 'no personal chef' rule? Report claims...
Gautam Adani's BIG move in space sector, Adani-backed firm among three finalists in India's...
New India Co-op Bank: RBI uncovers massive fraud of Rs 122 crore; know what’s the case
Shakira hospitalised due to abdominal pain, apologises to fans for cancelling Peru concert
South Korean actress Kim Sae-ron of A Brand New Life fame found dead at 24
'Life-threatening cold' ALERT in US as Polar Vortex, snow, floods grip America: What does that mean?
Champions Trophy 2025: No Indian flag in Lahore Stadium sparks controversy ahead of tournament
Cristiano Ronaldo vs Lionel Messi, who is better? 66 per cent of former footballers believe...
After strong tremors in Delhi-NCR, 4.0 magnitude earthquake jolts Bihar's Siwan
Delhi-NCR earthquake: Netizens react with hilarious memes amid 4.0 magnitude tremors, check here
BAFTA: Payal Kapdia's All We Imagine As Light faces another disappointment, films loses to...
Student paraglides to college after getting late for exam, netizens react, watch viral video
Israeli PM Benjamin Netanyahu issues BIG warning to Hamas: 'Gates of hell will...'
Delhi-NCR Earthquake Today: Tremors of magnitude 4 jolt Delhi and adjoining areas
This film has broken world box office records, not Hollywood, Bollywood but...
Meet Satyam Pandey who got high-paying job offer, not from IIM, NIT, IIIT, his annual salary is…
Gurgaon couple reunites with lost dog after three-month search in Agra
Meet man, IIT graduate, who topped UPSC exam in third attempt, he is from...
Noida authority takes BIG action against promoters of 2 housing projects, as realty firm fails to...
WPL 2025: Ashleigh Gardner, Deandra Dottin star as Gujarat Giants beat UP Warriorz by 6 wickets