UPI transactions hit all-time high in June as economic activity rebounds

UPI transactions hit an all-time high in June due to a rebound in economic activity. The volume and value of transactions are much higher than what was recorded in the months of April and May.

A record jump in monthly United Payments Interface (UPI) transactions in June indicated a recovery in demand for goods and services after the second Covid-19 wave disrupted economic growth. As many as 2.8 billion UPI transactions worth Rs 5,47,373 crore were recorded last month, as per data released by the National Payments Corporation of India (NPCI). This is higher than the all-time high of 2.73 billion transactions worth Rs 5,04,886 crore in March.