ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Personal Finance
  • Adani Saga
  • Markets
    • Stocks
    • Global Markets
    • IPO
    • Companies
    • Currency
    • Commodities
  • My Money
  • Calculators
    • Income Tax Calculator
    • Home Loan/EMI Calculator
    • Mutual Fund Returns Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • SIP calculator
    • Lumpsum Calculator
    • SWP Calculator
  • Videos
    • M Se Market
    • Jeb Zindagi Zaroorat
    • Light Camera Stocks
    • Tech Takes
    • Big Bulls Ka Nishana
    • Paisa Wasool
    • Commodity Ke MrityunjayMantra
    • The Right Property Show
  • Economy & Infra
    • Policy & Initiatives
    • Agriculture
    • Telecom
    • Aviation
    • Railways
    • Retail
    • Roadways
    • World Economy
  • Exclusive
    • Wealth Guide
    • Interviews
  • Auto
    • Cars
    • Bikes
    • Electric Vehicle
    • Commercial Vehicles
  • Tech
    • Mobiles
    • Gadgets
    • Reviews
    • Tips and Tricks
    • Apps
  • Real Estate
    • Home Buyers
    • Builders
  • Axis MF
  • Trending
    • Entertainment
    • Politics
    • Lifestyle
    • Travel
    • Sports
    • Viral
    • Education
    • Jobs
Read in App
Business News » India News

UPI-based transactions hit record 8.03 billion in January at Rs 13 trillion in value

The UPI has played an important role in driving financial inclusion to the last mile. 

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
UPI-based transactions hit record 8.03 billion in January at Rs 13 trillion in value
This milestone proves that the country is now firmly on the path to becoming a digital-first economy and is a testament to the growing acceptance of digital payments in India. (Representative image from Pixabay)

The Unified Payments Interface (UPI)-based transactions hit 8.03 billion in January, a substantial increase from the 7.82 billion transactions recorded in December 2022. According to the data by the National Payments Corporation of India (NPCI), the value of transactions hit nearly Rs 13 trillion in January. The volume of transactions was 7.8 billion, and value was Rs 12.8 trillion in December.

This milestone proves that the country is now firmly on the path to becoming a digital-first economy and is a testament to the growing acceptance of digital payments in India. "This is especially true for the populace in rural and semi-urban areas, which have embraced digital payment systems quickly. As highlighted in the 2023 Union Budget, digital payments have gained a wider acceptance with UPI clocking 7,400 crore digital payments worth Rs 126 lakh crore in 2022," said Dilip Modi, Founder, Spice Money.

"The UPI has played an important role in driving financial inclusion to the last mile. In addition, the government`s push toward digital payments has also been a major factor in the growth of UPI transactions," Modi added. In a major relief for some third-party digital payments players, the NPCI last week said it is extending the UPI volume cap rules deadline till December 31, 2024.
The NPCI initially planned to enforce the UPI market cap rules in January 2021, but delayed it several times. 

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
UPI
Reported By: IANS
Updated: Fri, Feb 03, 2023
02:54 pm
IANS
RELATED NEWS
Bajaj Finserv's Sanjiv Bajaj calls Indian banking strong, asks banks to keep focusing on risk management Bajaj Finserv's Sanjiv Bajaj calls Indian banking strong, asks banks to keep focusing on risk management
India’s best UPI success rate, no PIN for small-value payments: Why users believe Paytm is India’s fintech pioneer India’s best UPI success rate, no PIN for small-value payments: Why users believe Paytm is India’s fintech pioneer
RuPay on UPI - What is the future of credit cards in UPI country? RuPay on UPI - What is the future of credit cards in UPI country?
Make UPI payments of up to Rs 200 without pin — Paytm makes single click payments possible with UPI LITE Make UPI payments of up to Rs 200 without pin — Paytm makes single click payments possible with UPI LITE
Cheq Launches India's First UPI-enabled Payment Wallet for Foreign Tourists Cheq Launches India's First UPI-enabled Payment Wallet for Foreign Tourists

LATEST NEWS

Finance Ministry asks PSU banks to do proper monitoring of loans

UP Board Results 2023: UPMSP Class 10, 12 result to be released soon, exam evaluation likely to conclude on April 1

Air India launches Amritsar-Gatwick direct flight, deploys Boeing 787-8 Dreamliner on route

Coronavirus updates: Union health secretary meets states to discuss COVID-19 preparedness

Mamaearth's parent puts IPO on hold amid weak market conditions

Online shopping India: People in small cities spend 77% more than people in metropolitans

IPL 2023 GT vs CSK: Date, Time, Venue, Squad, Head-to-Head Record - All you need to know about Chennai Super Kings vs Gujarat Titans

Trai comes down heavily on pesky telemarketing calls, messages; holds review meet with telcos

Covid-19 cases: India records 1,805 new coronavirus cases, positivity rate at 3.19%

Salman Khan threat email: Mumbai cops apprehend man from Rajasthan

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
© 2023. Indiadotcom Digital Private Limited. All Rights Reserved.
LIVE TV