Demonstrating extraordinary scale and momentum, UPI has emerged as backbone of India’s digital payments ecosystem. 

About UPI

• Launched: April 2016 by National Payments Corporation of India (NPCI) under Regulatory Oversight of Reserve Bank of India (RBI). 
• Meaning: System that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing & merchant payments into one hood. 

Key Achievements of UPI

• Annual Transaction Volume: From 2 crore in FY 2016-17 to 24,162 crore in FY 2025-26. 
  • In 2025, it processed approximately 22,000 crore transactions, with a daily average of about 60 crore transactions.
• Banks Onboarded on UPI: Increased from 44 banks in FY 2016-17 to 703 banks by FY 2025-26 covering public sector, private, small finance, payments, cooperatives, etc. 
• Global Reach: UPI accounts for nearly 49 % of world’s real-time payment transaction volume (2024), a feat recognized by IMF. 
  • Operationalised in Countries including UAE, Singapore, France, Bhutan, Nepal, Sri Lanka, Mauritius, Qatar.