New Delhi: In a huge spike in the number of digital transactions, over 620 million transactions worth ₹1,02,594.82 crore were conducted through the Unified Payments Interface (UPI) platform in December.
According to the data from the National Payments Corporation of India (NPCI), this is 18% rise in number transactions while 25% increase in transaction value as compared to November.
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Interesting this is for the first time when the number of UPI transactions surpassed 600 million.
In November UPI transactions crossed the 500 million mark for the first time.
This is one this big impact of PM Modi led government’s push for the digital economy. UPI transactions received a major stimulus after Prime Minister Narendra Modi launched the Bharat Interface for Money (BHIM) app on 30 December 2016.