The Unified Payments Interface (UPI)-based transactions surged once again in the month of July, reaching Rs 20.64 lakh crore against Rs 20.07 lakh crore in the previous month – a massive 35 per cent surge (year-on-year), the data released by the National Payments Corporation of India (NPCI) showed on Thursday.
The total UPI transaction count went up almost 4 per cent (month-on-month) to 14.44 billion in July from 13.89 billion in the previous month.
As the UPI success story is being adopted by several countries, the average daily transaction volume stood at 466 million last month, compared with 463 million in June.
The average daily transaction amount last month was Rs 66,590 crore, according to the NPCI data.
According to the latest Reserve Bank of India (RBI) report on Currency and Finance (2023-24), the country is emerging as a frontrunner on the back of its robust digital public infrastructure, a vibrant fintech ecosystem, and a conducive policy environment to become as the fastest-growing digital economy in the world.
The report mentioned that the flagship UPI has revolutionised the retail payment experience for end users, making transactions faster and more convenient.
The Digital Public Infrastructure (DPI), which has transformed millions of lives, is now being replicated in several countries.
UPI is now adding up to 60 lakh new users every month, fuelled by the RuPay credit card on UPI and its launch in foreign countries.
The UAE-based Al Maya Supermarket last month announced the acceptance of UPI-based payments across its outlets in the country.
The India Stack's flagship offering is now available at the Eiffel Tower in Paris, Galeries Lafayette's flagship store in Haussmann ahead of Paris Olympics and certain countries in the Middle East.
The NPCI has also set an ambitious target of achieving 1 billion UPI transactions per day in the coming years.
Tripura Govt contemplating to boost tourism: Minister Sushanta Chowdhury
The state transport and tourism minister Sushanta Chowdhury on Thursday said that the government is contemplating to make tourism as an alternate means of livelihood in the state. Adequate fund has been allocated for further developing the tourism sector, he added.
Imports from B’desh to Tripura increase, exports largely decline: Minister
Imports from Bangladesh into Tripura increased but exports from the northeastern state of India to the neighbouring country substantially declined, state Industries and Commerce Minister Santana Chakma told the Assembly on Thursday.
67 percent households in AMC areas connected with drinking water supply: CM Dr Manik Saha
Chief Minister Dr Manik Saha on Thursday claimed that at least 67% households were connected with drinking water supply in the areas of Agartala Municipal Corporation.
Boy drowns in Muhuri River during Baruni bathing ritual
In a tragic incident, Sayan Pal (18), a 12th-standard student from Arya Colony, Belonia, drowned in the Muhuri River while participating in the holy Baruni bathing ritual on Wednesday afternoon.
Innovative projects launched to supply drinking water from Dumbur: CM
Chief Minister Prof. Dr. Manik Saha today said that several innovative projects have been set up based on the reserved water of the Dumbur water reservoir, making it possible to provide drinking water connections to many families through pipelines.
Govt undertaken measures to increase Howrah river’s navigability: Tripura CM
Chief Minister Prof. Dr. Manik Saha today said that the state government has undertaken a series of measures to permanently address flooding in Agartala city by increasing the navigability of the Howrah River.
Tripura Assembly witnesses spat over minister's 'racist' remark against LoP
The Tripura Assembly witnessed a noisy scene for the fourth day on Thursday over Parliamentary Affairs Minister Ratan Lal Nath's alleged racist remarks against Leader of the Opposition (LoP) Jitendra Chaudhury.
Centre Releases Rs 240.5 Crore to Tripura for Urban Planning Reforms
Chief Minister Prof. Dr. Manik Saha today announced that the Ministry of Finance has released Rs 240.5 crores to Tripura for achieving urban planning reforms.