Monthly transactions through Unified Payments Interface (UPI) have hit a new high by surpassing 200 million mark for the first time in June, since its inception.
The UPI transaction hit 243.37 million in June amounting to Rs 40,834.03 crore , also the highest in its history.
As per the official statistics, the number of transactions reported in June is 30 per cent higher than the figure touched in May. It is 2,280 per cent higher than the year-ago period
Further, the highest volume of transactions reported on a single day was on June 20, when over 10 million transactions were registered.
According to National Payments Corporation of India (NPCI), the data reported in June also denotes that the cashless transactions to the tune of Rs 1.01 lakh crore was initiated using UPI in the first quarter of 2018-19. It took 20 months to hit the first Rs 1 lakh-crore worth of transactions.
UPI was formally launched by NPCI on August 2016 with 21 partner banks. At present, 110 banks have enrolled with the NPCI for access to UPI.