UPI transactions within the nation surged over 36% from a yr in the past to Rs 60 lakh crore within the first quarter of the present fiscal yr, in line with data shared in Parliament on Monday. Within the Lok Sabha, Minister of State for Finance Pankaj Chaudhary disclosed that the 2024–25 fiscal yr recorded 4,122 crore UPI transactions, totalling Rs 60 lakh crore, from April to June.
Throughout the identical interval final yr, there have been 2,762 crore UPI transactions price Rs 44 lakh crore. The whole fiscal 2023–24 noticed the execution of 13,113 crore UPI transactions, totalling Rs 200 lakh crore.
In fiscal 2023, UPI transactions totaled 8,371 crore, with a worth of Rs 139 lakh crore. The earlier yr, fiscal 2021–22, noticed 4,596 crore transactions amounting to Rs 84 lakh crore.
Chaudhary additionally talked about {that a} cardless money deposit facility by way of UPI on an interoperable foundation has been launched by a choose variety of banks. To make sure the protection and safety of those deposits, sure circumstances have been established, together with a most deposit restrict of Rs 50,000 per transaction, though banks could set decrease limits primarily based on their danger administration insurance policies.
The Nationwide Funds Company of India has been suggested to find out the permissible variety of interoperable money deposit transactions for every depositor on the Payer PSP or NPCI stage. Moreover, transaction messages should seize the depositor’s particulars and clearly point out that the transaction is a money deposit.
(With inputs from PTI)
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