India’s Unified Payments Interface (UPI) processed 24.07 billion transactions in September, keeping monthly activity above 24 billion for a second month even as the count fell from August, according to the National Payments Corporation of India (NPCI).
NPCI recorded 24,068.38 million transactions in September, compared with 24,508.96 million in August. The September count equals 2,406.838 crore transactions, above the 2,400 crore monthly threshold cited by Finance Minister Nirmala Sitharaman.
NPCI lists the September transaction value separately at ₹29,37,396.67 crore. That figure represents the value of payments, while the 24.07 billion figure counts transactions.
Sitharaman said monthly UPI activity had exceeded 2,400 crore transactions at an Oct. 25 event in Bhubaneswar, Press Trust of India reported. Prime Minister Narendra Modi inaugurated two Reserve Bank of India (RBI) facilities at the event: a data center and a cybersecurity training institute.
The RBI said the data center is intended to host systems such as Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT). The institute focuses on building expertise in cybersecurity, artificial intelligence and emerging technologies.
The International Monetary Fund (IMF) places UPI among the world’s leading fast-payment networks by transaction volume. An IMF paper on India’s payment networks estimates that integrating networks increased digital-payment use by more than 50% in the year after integration.
PTI also reported that Sitharaman cited nearly 1.2 crore loans for street vendors through PM SVANidhi. The latest cited update, issued Aug. 27 by the Ministry of Housing & Urban Affairs, counted more than 1.18 crore loans accessed by 78.68 lakh vendors, with cumulative lending of ₹19,171 crore since the scheme began. The ministry describes PM SVANidhi as a working-capital loan program for urban street vendors.
