Tuesday, January 31, 2023

Big update for UPI users, record made in terms of payment

UPI Payments: A record Rs 12.82 lakh crore was paid in December through the Unified Payments Interface (UPI). During this, the transaction figure reached 782 crores. The Department of Financial Services tweeted, ‘UPI has a big contribution in bringing digital payments revolution in the country. In December 2022, UPI transactions have crossed 782 crores to reach Rs 12.82 lakh crores.

381 banks provide this facility

Payment through UPI had crossed Rs 12 lakh crore in October. In November, 730.9 crore transactions were done through this system and their value was Rs 11.90 lakh crore. This cost-effective mode of cashless transaction is gaining popularity month by month and now 381 banks offer this facility.

Spice Money founder Dilip Modi said that in the last year, UPI transactions have grown very fast both in terms of number and value. Its biggest feature is that it is very convenient. It is also very useful in promoting financial inclusion.

Read More: Tax Reform System: Important news for taxpayers, ITR form will change next year!

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