UPI transactions likely to touch Rs 100 trillion soon: Shaktikanta Das

RBI launches UPI for 400 mn feature phone users to widen digital payment reach

Unified Payments Interface (UPI) — the largest retail payment system in the country — has so far processed transactions of over Rs 76 trillion in the current fiscal year (2021-22, or FY22), compared with Rs 41 trillion worth of transactions in 2020-21 (FY21), and is likely to process transactions of Rs 100 trillion, said Reserve Bank of India (RBI) Governor Shaktikanta Das on Tuesday.

Speaking at the launch of UPI for feature phones, Das said, “India’s digital economy has flourished over the past few years and UPI has played a major role in this process, recording 4.53 billion transactions, worth Rs