Just Another Huge Record Of UPI!

Unified Payment Interface (UPI) transactions reached a record high in January, totaling Rs 18.41 trillion, up 1% from Rs 18.23 trillion in December. Transactions grew by 1.5 percent to 12.20 billion from 12.02 billion in October.

In November, the value was estimated at Rs 17.4 trillion, with 11.4 billion activities. According to figures released by the National Payments Corporation of India (NPCI), January numbers were 52% higher in volume and 42% higher in value than the same month in the previous year.

In January, the Immediate Payment Service (IMPS) transaction volume declined by 0.7% to Rs 5.66 trillion, while the number of transactions climbed by 2% to 509 million. In November, there were 472 million transactions, with a total value of Rs 5.35 trillion. FASTag transactions fell by 5%, from 348 million in December to 331 million in January, with a total value of Rs 5,560 crore.

In January, volumes increased by 10% in volume and 16% in value compared to January 2023. The Aadhaar Enabled Payment System (AePS) experienced an 8% reduction to Rs 23,057 crore, compared to Rs 25,162 crore in December. The volume fell from 95 million to 86 million in January.