New Delhi, Nov 12:
Digital payments via the Unified Payments Interface (UPI) surged 32 per cent in transaction volume on Deepavali day, driven by brisk last-minute festive retail buying across the country.
According to data released by the National Payments Corporation of India (NPCI), UPI platforms processed 916.9 million transactions on November 8, up from 695.7 million transactions recorded on the festival day last year, with total transaction value reaching Rs 90,029.43 crore compared to Rs 88,350.79 crore in the previous year. A day ahead of Deepavali, transaction volumes touched 975.8 million, facilitating transfers worth Rs 1,36,118 crore.
Backed by festive consumer spending throughout October, monthly UPI volumes reached 25.47 billion transactions valued at Rs 31.53 lakh crore. Having expanded its international acceptance to 11 countries with the recent addition of Uzbekistan, UPI has grown more than 4,000-fold in annual transaction value over the past decade to around Rs 314 lakh crore in FY26.