India’s popular digital payment system, UPI, just hit another high note. In September, the Unified Payments Interface recorded a whopping 19.63 billion transactions—a 31% jump from the same month last year. The total value of these UPI transactions climbed 21% year-on-year to Rs 24.90 lakh crore, according to fresh data from the National Payments Corporation of India (NPCI).
Compared to August, the growth continued strong. UPI’s transaction value rose slightly from Rs 24.85 lakh crore. On average, daily transactions averaged Rs 82,991 crore in September, up from Rs 80,177 crore the previous month. And the numbers kept rolling: daily transaction counts hit 654 million, compared to 645 million in August.
This surge builds on UPI’s recent milestones. Last month, UPI crossed 20 billion transactions for the first time ever. It even smashed a single-day record with over 700 million transactions on August 2. Despite challenges like the ban on real money gaming apps, UPI’s steady rise shows how deeply digital payments have taken root in India.
In other big news for UPI users, NPCI has boosted transaction limits for person-to-merchant (P2M) payments. Now, you can make payments up to Rs 10 lakh in 24 hours for certain categories. This change aims to make bigger digital transactions smoother in key areas like finance and government services, pushing more people toward cashless options. Person-to-person (P2P) limits stay at Rs 1 lakh per day.
The updates fix old pain points where users had to split large payments or fall back on checks and bank transfers. Here’s a quick breakdown of the key hikes:
– For capital markets and insurance payments, the per-transaction limit jumps from Rs 2 lakh to Rs 5 lakh, with a daily cap of Rs 10 lakh.
– Government e-Marketplace deals, including earnest money deposits and taxes, now allow up to Rs 5 lakh per transaction—double the previous Rs 1 lakh limit.
– Travel bookings, loan repayments, and EMI collections get a boost too: per-transaction limits rise to Rs 5 lakh from Rs 1 lakh.
– Paying credit card bills? You can now handle up to Rs 5 lakh in one go, though the 24-hour total stays at Rs 6 lakh.
– For loan and EMI collections, expect Rs 5 lakh per transaction, with a daily limit of Rs 10 lakh.
These tweaks should make UPI even more versatile for everyday Indians handling bigger bills and investments. As digital payments grow, UPI continues to lead the charge in India’s fintech boom.
Stay informed on all the latest news, real-time breaking news updates, and follow all the important headlines in world News on Latest NewsX. Follow us on social media Facebook, Twitter(X), Gettr and subscribe our Youtube Channel.
