Home News UPI transactions hit report 782 crore in December

UPI transactions hit report 782 crore in December

UPI transactions hit report 782 crore in December

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MUMBAI: Transactions on the Unified Funds Interface (UPI) platform hit a brand new report of 782 crore in December 2022, with the worth of those additionally touching a brand new excessive of Rs 12.8 lakh crore.
By way of variety of transactions, the December determine is 7% increased than in November whereas, in worth phrases, the quantity transacted final month was 8% greater than the previous one. 12 months on 12 months, the quantity and worth of transactions are up 71% and 55%, respectively.
In December, variety of UPI transactions surpassed funds made throughout October when the quantity crossed 700 crore for the primary time and the worth additionally hit Rs 12 lakh crore. The surge in transactions in October was attributed to the 2 major festivals of Navratri and Diwali, falling throughout the identical month, coupled with gross sales introduced by on-line retailers.
In calendar 12 months 2022, the UPI platform noticed 7,404 crore transactions for Rs 125 lakh crore. In the meantime, some customers skilled downtime on their third-party UPI apps on December 31, which the operators mentioned was on account of heavy visitors.

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