Overview
- NPCI reports the average daily UPI transaction value at Rs 94,000 crore in October, a 13% rise from September.
- UPI processed 740 million payments on Diwali eve, and the month’s average daily volume stands at 695 million, more than 6% above September’s record.
- By October 20, daily transaction value crossed Rs 1 lakh crore on six days, compared with three such days in September.
- On current momentum, October could set a new monthly high, potentially exceeding Rs 28 lakh crore in total value versus the existing Rs 25 lakh crore record.
- UPI, which accounts for about 85% of India’s digital transactions, contrasts with cooler credit-card activity in October after September’s ecommerce-driven peak of Rs 1.18 lakh crore.