Now Reading: UPI completes 10 years, PM Modi hails milestone
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UPI completes 10 years, PM Modi hails milestone
Prime Minister Narendra Modi on Tuesday marked a decade of the Unified Payments Interface (UPI), calling its scale and reach a major turning point in India's digital payments journey. In a post…
Prime Minister Narendra Modi on Tuesday marked a decade of the Unified Payments Interface (UPI), calling its scale and reach a major turning point in India's digital payments journey. In a post on X, he said the launch 10 years ago was a milestone and asked citizens to share how the platform has affected their lives.
The National Payments Corporation of India launched UPI on 25 August 2016. The Union Finance Ministry said UPI has become the backbone of India's digital payments ecosystem and a critical driver of financial inclusion. Annual transaction volume surged from 1.78 crore in FY17 to over 24,162 crore in FY26, a 13,000-fold increase. Transaction value rose from Rs 0.07 lakh crore to about Rs 314 lakh crore, a more than 4,000-fold rise.
The Finance Ministry noted the International Monetary Fund has recognised UPI as the world's largest real-time payment system by transaction volume. UPI is now operational in 11 countries.
Indian Opinion Analysis
Times of India led with PM Modi's celebratory post and his call for citizen stories, framing the milestone as a national achievement to take pride in. The Hindu led with NPCI's launch date and the Finance Ministry's data, emphasising transaction growth numbers and financial inclusion. Both are neutral-report but The Times of India gives prominence to the prime minister's personal voice, while The Hindu foregrounds institutional metrics and global recognition from the IMF. Neither source omits significant facts or takes a critical stance. The coverage is uniformly celebratory straight reporting. The next milestone to watch is UPI's expansion into more countries and its transaction volume crossing 30,000 crore annually.
Coverage: 2 sources, 2 neutral
Sources (2): timesofindia.indiatimes.com (neutral report), thehindu.com (neutral report)
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
