Universal Payment Interface

Despite falling fraud rates in cards and UPI, India must pursue a zero-fraud goal to protect trust and expand digital payments, RBI Deputy Governor T Rabi Sankar said

The previous record was in March 2025, when it clocked 18.3 billion in volume and ₹24.77 trillion in value

Experts say UPI may not have favoured foreign players, but some believe it has not protected the Indian ecosystem it was supposed to