UPI Transactions: The number of UPI transactions in the country is constantly increasing. This growth has continued in August as well. Last month, UPI transactions have increased by 3 percent to 14.96 billion. In July, there were 14.44 billion UPI transactions in the country. This is the largest number of UPI transactions since its launch in April 2016. However, there has been a slight decline in the amount of transactions through UPI. This figure has remained at Rs 20.61 trillion as compared to Rs 20.64 trillion in July.
nearly doubled year-on-year
According to the data released by the National Payments Corporation of India (NPCI) on Sunday, the number of UPI transactions in August has increased by 41 percent on an annual basis. Also, it has gone up by 31 percent in terms of value. There were 13.89 billion UPI transactions in June 2024. Transactions worth Rs 20.07 trillion were done through these.
IMPS transactions are declining
According to NPCI, there has been a decline of about 8 percent in IMPS transactions in August. A total of 45.3 crore IMPS transactions took place last month. Earlier, 49 crore IMPS transactions took place in July. In August, transactions worth Rs 5.78 trillion were done through IMPS. In July, this figure was Rs 5.93 trillion. In June, 51.7 crore IMPS transactions took place and transactions worth Rs 5.78 trillion were done in these.
There is a huge jump in fastag transactions as well
According to NPCI, FASTag transactions have also gone up by 2 percent to 32.9 crores in August. There were 32.3 crore FASTag transactions in July. In August, transactions worth Rs 5,611 crore were done through FASTag transactions. The same figure was Rs 5,578 crore in July. There were 33.4 crore FASTag transactions in June 2024. Rs 5,780 crore came through them. As compared to August 2023, there have been 7 percent more FASTag transactions in August 2024, while 8 percent more money has been transacted through them.
AePS transactions also went up
Aadhaar Enabled Payment System (AePS) transactions have also increased by 3 percent to above 10 crores in August. This figure was 9.7 crores in July and 10 crores in June. Transactions worth Rs 25,122 crore were done through AEPS transactions in June and Rs 24,218 crore in July. In August, this figure has increased by 2 percent to Rs 24,676 crore. But, compared to August 2023, AEPS transactions have decreased by 7 percent and the value has also declined by 10 percent.
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