UPI Average Daily Value Surges to Rs 90,446 Crore in August; Government Rules Out Fees

It underscores policymakers’ commitment to a free-for-user payments rail supported by multi-year incentives.

Overview

Daily UPI transaction value averaged Rs 90,446 crore in August while daily volumes climbed to about 675 million, marking a steep rise since January.
State Bank of India led the ecosystem as the top remitter member, handling 5.2 billion UPI transactions in the latest reporting period.
Minister of State for Finance Pankaj Chaudhary told the Lok Sabha there is no proposal to impose charges on UPI transactions under current legal frameworks.
The finance ministry highlighted that it disbursed roughly Rs 8,730 crore in incentives from FY2021-22 through FY2024-25 to sustain UPI services.
Peer-to-merchant payments now represent 29% of UPI’s transaction value and 64% of its volume, with the top 15 merchant categories accounting for 70% of volume and 47% of value.