UPI completes 10 years, clocks nearly 13k fold rise in transaction volume

The Unified Payments Interface (UPI), which was launched on August 25, 2016, has completed a decade of transforming India's digital payments landscape, emerging as the backbone of the country's digital payments ecosystem and a global benchmark for real-time payments.

Annual UPI transaction volume rose from 1.78 crore in 2016-17 to more than 24,162 crore in 2025-26, an almost 13,000-fold increase, the finance ministry said in a statement.

During the same period, transaction value jumped from Rs 0.07 lakh crore to around Rs 314 lakh crore, representing a more than 4,000-fold rise, it said.

Developed by the National Payments Corporation of India (NPCI) under the regulatory oversight of the Reserve Bank of India (RBI), UPI has recorded an unprecedented expansion in both transaction volume and value over the past 10 years, it said.

The year 2026 marked a significant milestone in the growth trajectory of UPI, it said, adding that monthly transaction volumes crossed 2,300 crore for the fi