In a remarkable achievement for India's digital payment landscape, Unified Payments Interface (UPI) transactions reached a staggering ₹31.53 lakh crore in October. The daily transaction value also crossed ₹1 lakh crore for the first time.
The surge in UPI usage can be attributed to festive demand.
- Record daily transactions — UPI's daily transaction value exceeded ₹1 lakh crore, indicating a growing trend.
- Festive demand boost — The surge in transactions correlates with increased consumer spending during the festive period.
