Now Reading: UPI completes 10 years as transactions reach Rs 314 lakh crore
-
01
UPI completes 10 years as transactions reach Rs 314 lakh crore
The Unified Payments Interface completed 10 years on 25 August, with annual transactions rising from 1.78 crore in 2016-17 to more than 24,162 crore in 2025-26. Their value increased from Rs 0.07…
The Unified Payments Interface completed 10 years on 25 August, with annual transactions rising from 1.78 crore in 2016-17 to more than 24,162 crore in 2025-26. Their value increased from Rs 0.07 lakh crore to around Rs 314 lakh crore over the same period.
Prime Minister Narendra Modi called UPI a “major turning point” in India’s digital payments journey and invited users to share how it had affected their lives. The platform was launched in 2016 by the National Payments Corporation of India under Reserve Bank of India oversight.
The New Indian Express reports UPI’s expansion as a pillar of digital infrastructure and financial inclusion. Times Now News also reports amendments to the Payment and Settlement Systems Act that could allow Merchant Discount Rate charges on some transactions, possibly payments above Rs 2,000 to large merchants. Consumers currently do not pay UPI charges.
Indian Opinion Analysis
The New Indian Express presents the anniversary through official growth figures and UPI’s infrastructure role. Times Now News gives greater space to the possible MDR framework, introducing a cost concern absent from the first report. Neither account establishes whether charges will be imposed, which transactions will qualify, or how merchants and consumers would be affected. The balanced reading is a highly scaled payment system alongside an unresolved policy choice over its financing. The amended law and any notified MDR threshold are the next concrete markers.
Coverage: 2 sources, 1 government-critical, 1 neutral
Sources (2): newindianexpress.com (neutral report), timesnownews.com (government critical)
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
