The Prime Minister Narendra Modi today lauded the accomplishment of 6 billion UPI transactions in July, highest ever since 2016.
In a response to a tweet by Union Finance Minister Nirmala Sitharaman, the Prime Minister said;
“This is an outstanding accomplishment. It indicates the collective resolve of the people of India to embrace new technologies and make the economy cleaner. Digital payments were particularly helpful during the COVID-19 pandemic.”
According to data released by the National Payments Corporation of India (NPCI), UPI reported 6.28 billion transactions worth Rs 10.62 trillion in July — an increase of 7 per cent over June.
The UPI facility was launched on April 11, 2016, by then Reserve Bank of India Governor Raghuram Rajan.
Bharat Interface for Money-Unified Payments Interface (BHIM-UPI) has emerged as the preferred payment mode of the citizens and has achieved a record of 452.75 crore digital payment transactions with the value of Rs 8.27 lakh crore till February 28, 2022.
COVID-19 pandemic has established that digital payments enable access to healthcare as well through contactless payment modes like BHIM-UPI QR code in consonance with the “new normal” of social distancing.
