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Transactions conducted through the Unified Payments Interface (UPI) reached a record value of ₹230 lakh crore in the current financial year up to December, reflecting the rapid growth of India’s digital payments ecosystem, the government informed the Rajya Sabha.
Responding to supplementary questions during Question Hour, Minister of State for Finance Pankaj Chaudhary said UPI transaction volumes and values have expanded at a fast pace in recent years. He noted that the transaction value recorded so far in 2025–26 significantly exceeds earlier levels.
“Domestic UPI transactions worth a total value of ₹230 lakh crore have been carried out till December in 2025–26, compared with ₹139 lakh crore in the entire financial year 2022–23,” Chaudhary told the House.
The minister also highlighted the growing international footprint of UPI, stating that the platform is now operational in eight countries, where transactions are carried out after currency conversion and in compliance with local regulations.
In a written reply to Parliament, Finance Minister Nirmala Sitharaman said UPI is currently functional in Bhutan, France, Mauritius, Nepal, Qatar, Singapore, Sri Lanka and the United Arab Emirates.
She added that the government, along with the Reserve Bank of India (RBI) and NPCI International Payments Ltd (NIPL), is actively pursuing initiatives to expand UPI’s global reach. These include linking UPI with fast payment systems in partner countries to facilitate cross-border person-to-person remittances, as well as setting up travel-based corridors for cross-border person-to-merchant payments.
Sitharaman further noted that UPI’s scale and interoperability have received global recognition. An International Monetary Fund (IMF) report published in June 2025 described UPI as the world’s largest retail fast-payment system by transaction volume. According to ACI Worldwide’s 2024 report, UPI accounts for about 49 per cent of global real-time retail payment transactions.
(Source: PTI)
