Record transaction of Rs. 12.82 Lakh crore via UPI in December: GoI

In a significant development, payments through the Unified Payments Interface (UPI) touched a record high of Rs. 12.82 lakh crore in December, 2022.

According to data shared by the Department of Financial Services, 7.82 billion transactions worth ₹12.82 trillion were done on the platform, which was launched in 2016.

The transactions in October and November Rs. 12 Lakh crore and Rs. 11.90 Lakh crore, via UPI.

UPI has made major contribution in ushering digital payment revolution in the country. In December 2022, UPI has crossed 7.82 billion transactions worth ₹12.82 trillion.

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Quoted by CNBCTV18, Spice Mooney founder Dilip Modi said that the main advantage of UPI is the convenience it brings.

“The UPI allows money to be transferred between multiple profiles for each transaction, making it easy for the user to transact. Another reason is that UPI is a simple, fast and secure way of transaction. UPI has been a major tool in driving financial inclusion,” he said,” Mr. Mooney said.