Highlights

  • UPI transactions continues to rise
  • New record with ₹18.23 lakh crore in Dec; 54% higher
  • UPI transactions hit 11.24 billion in November
  • And 11.41 billion in October

Latest news

Explained: Abdul Karim Tunda's acquittal brings back grim memories of 1993 serial blast case

Explained: Abdul Karim Tunda's acquittal brings back grim memories of 1993 serial blast case

Railway unions threaten to stop all trains from May 1 if old pension scheme not implemented

Railway unions threaten to stop all trains from May 1 if old pension scheme not implemented

Kashmiri journalist Asif Sultan released from jail after 5 years of incarceration

Kashmiri journalist Asif Sultan released from jail after 5 years of incarceration

Hardik Pandya awarded central contract only after giving undertaking to BCCI: report

Hardik Pandya awarded central contract only after giving undertaking to BCCI: report

Hockey India general secretary Bholanath Singh questions Janneke Schopman's resignation timing: report

Hockey India general secretary Bholanath Singh questions Janneke Schopman's resignation timing: report

Rihanna touches down in Gujarat's Jamnagar ahead of her performance at Ambani bash

Rihanna touches down in Gujarat's Jamnagar ahead of her performance at Ambani bash

F2 Bahrain: India's Kush Maini takes pole position for season's opening race

F2 Bahrain: India's Kush Maini takes pole position for season's opening race

Parineeti Chopra and Diljit Dosanjh starrer 'Chamkila' first song 'Ishq Mitaye' out: watch

Parineeti Chopra and Diljit Dosanjh starrer 'Chamkila' first song 'Ishq Mitaye' out: watch

UPI transactions in India soar: Highest ever transactions seen in December 2023

Any UPI ID which is inactive for one year stands to get disabled from Jan 1, 2024 onwards

UPI transactions in India soar: Highest ever transactions seen in December 2023

In December last year, the Unified Payments Interface (UPI) recorded a substantial surge, totaling ₹18.23 lakh crore in transaction value, marking a remarkable 54% increase compared to the data from 2022.

The volume of transactions also soared, reaching 12.02 billion, showcasing a 42% rise compared to the previous year's figures.

Earlier, the transaction volume peaked at ₹17.40 lakh crore in November and ₹17.16 lakh crore in October, reflecting the consistent upward trajectory in UPI transactions.

Also read/watch - Income tax filings reach a record high of 8.18 crore by December 31st

Inactive UPI IDs

However, there's a significant development in store for inactive UPI IDs. Starting January 1, 2024, any UPI ID that remains inactive for a year will be disabled. This action follows a circular issued by the National Payments Corporation of India (NPCI) on November 7, 2023.

Affected customers have the option to re-register their UPI apps to reactivate their IDs, allowing them to resume making payments and non-financial transactions using their UPI PINs.


Up Next

UPI transactions in India soar: Highest ever transactions seen in December 2023

UPI transactions in India soar: Highest ever transactions seen in December 2023

Zepto launches subscription service, fuels competition in quick commerce market

Zepto launches subscription service, fuels competition in quick commerce market

Cabinet approves ₹75,021 cr subsidy scheme for rooftop solar installation

Cabinet approves ₹75,021 cr subsidy scheme for rooftop solar installation

Air India slapped with Rs 30 lakh penalty after 80 year old passenger's death

Air India slapped with Rs 30 lakh penalty after 80 year old passenger's death

Three semiconductor plants in India to attract Rs 1.26 lakh crore investment

Three semiconductor plants in India to attract Rs 1.26 lakh crore investment

Number of ultra rich in India to grow at 50% by 2028: Knight Frank

Number of ultra rich in India to grow at 50% by 2028: Knight Frank

More videos

SoftBank trims further 2.17% stake in Paytm; from 17.5% stake in 2022, now holds just 2.83%

SoftBank trims further 2.17% stake in Paytm; from 17.5% stake in 2022, now holds just 2.83%

ETF interest rate hike and upcoming halving drive Bitcoin rally

ETF interest rate hike and upcoming halving drive Bitcoin rally

Reliance Industries and Walt Disney announce joint venture, RIL to invest Rs 11,500 crore

Reliance Industries and Walt Disney announce joint venture, RIL to invest Rs 11,500 crore

After announcement of deal with Disney, Reliance hits new-lifetime highs, m-cap tops Rs 20 trillion

After announcement of deal with Disney, Reliance hits new-lifetime highs, m-cap tops Rs 20 trillion

Tech hiring: Infosys plans walk-in recruitment drive in Bengaluru on March 9

Tech hiring: Infosys plans walk-in recruitment drive in Bengaluru on March 9

Gold, Silver Price Today February 29, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

Gold, Silver Price Today February 29, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

Gold, Silver Price Today February 28, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

Gold, Silver Price Today February 28, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

Sunil Bharti Mittal receives honorary Knighthood from Britain's King Charles III

Sunil Bharti Mittal receives honorary Knighthood from Britain's King Charles III

No impact on merchants' trust on Paytm even after RBI's action: Survey

No impact on merchants' trust on Paytm even after RBI's action: Survey

Editorji Technologies Pvt. Ltd. © 2022 All Rights Reserved.