upi: UPI transactions grow 7.7 per cent to 730 crore in October

UPI transactions in India surged 7.7 per cent to 730 crore and the total value stood at more than Rs 12.11 lakh crore in October from 678 crore worth Rs 11.16 lakh crore in September.

The number of instant interbank fund transfer through IMPS (Immediate Payment Service) in October stood at 48.25 crore and the value was at Rs 4.66 lakh crore. In terms of transactions, it was higher by 4.3 per cent compared to September, reported PTI citing the monthly data from the National Payments Corporation of India (NPCI) released on Tuesday.

The NETC FASTag, which facilitates automatic toll collection at NHAI’s toll booths across the country, registered a 9.3 per cent growth in the number of transactions compared to 28.3 crore in September.

The corresponding value of transactions stood at Rs 4,451.87 crore in October as against Rs 4,244.76 crore in September.

While the Aadhaar card-enabled AePS, which facilitates easy, quick and safe banking transactions, increased to 11.77 crore in October compared to 10.27 crore in previous month.

The value of AePS transactions rose to Rs 31,112.63 crore from Rs 26,665.58 crore.

NPCI is an umbrella organisation for all retail payments system in India.

(With inputs from PTI)

Source link