UPI Transactions: UPI Broke All Records In April

UPI Transactions: UPI broke all records in April, totaling 5.58 billion transactions.

India’s leading digital payments platform – Unified Payments Interface saw 5.58 billion transactions in April 2022, which is more than the number of transactions in any month.

This is the highest level of UPI transaction count. A total of Rs 9.83 lakh crore transactions have taken place in the month of April.

Earlier in March, for the first time, more than 5 billion transactions were done through UPI in a month.

Transaction volume increased by 3.33 percent and transaction value by 2.36 percent in April as compared to March.

UPI processed 5.4 billion transactions in March, amounting to Rs 9.6 lakh crore. However, year-on-year (YoY), transaction volume grew by 111 percent and transaction value increased by almost 100 percent.

UPI had processed 2.64 billion transactions worth Rs 4.93 trillion in April 2021.

Significantly, the focus of the Government of India has shifted from the general economy to a digital economy.

Efforts are being made by the government to boost the digital economy and from the data that has come out so far, it can be said that the number of digital transactions has increased very rapidly in the last few years.

In his monthly radio program ‘Mann Ki Baat’ on 24 April, Prime Minister Narendra Modi said that in the last few years, BHIM UPI has become increasingly a part of our economy and habits.

Now people living in small towns, and most villages also use BHIM UPI.

Transactions are done through UPI only. He had said that culture is also being born in the country through the digital economy.

He had said, “Have you ever thought how big a digital economy has been created in the country with these small online transactions of yours.”

“At present, about 20 thousand crore rupees of transactions are being done every day in our country.”