UPI transactions surge in June
UPI authorised virtual transactions climbed 11.6 per cent month-on-month to INR 5.47 lakh crore during June this year, NPCI data revealed on Thursday.
Meanwhile, in May 2021, the unified payments interface activities stood at INR 4.91 lakh crore.
According to the data, in terms of estimates, there were as many as 280 crores transactions throughout the month under survey, as against 253 crores during May.
National Payments Corporation of India (NPCI) remains an umbrella association for India’s performing retail payments and settlement operations. The Reserve Bank and Indian Banks’ Association (IBA) initiative aims to create a sturdy payment and settlement base in India.
The Unified Payments Interface of NPCI provides monetary transactions by drawing various bank accounts into a single mobile application.