started · updated
UPI completes 10 years of driving India's digital payment revolution
The Unified Payments Interface (UPI) has completed 10 years of operation, marking a decade of transformation in India's digital economy. Since its launch in August 2016 by the National Payments Corporation of India (NPCI) under the oversight of the Reserve Bank of India, the platform has seen exponential growth. Annual transaction volumes rose from 1.78 crore in FY 2016-17 to over 24,162 crore in FY 2025-26, representing an almost 13,000-fold increase. Similarly, annual transaction value surged from ₹0.07 lakh crore to approximately ₹314 lakh crore.
UPI has become a cornerstone of daily life in India, with merchant payments accounting for 63 per cent of volume and 86 per cent of person-to-merchant transactions being below ₹500. The system currently processes an average of 66 crore transactions daily. The banking network supporting the interface has expanded from 21 participating banks at launch to 741 live banks as of July 2026.
On the global stage, the International Monetary Fund (IMF) has recognized UPI as the world's largest real-time payment system by transaction volume, noting it accounted for nearly 49 per cent of global real-time payment volume in 2024. The platform is now operational in 11 countries, including France, Singapore, the UAE, Greece, Mauritius, Bhutan, Nepal, Sri Lanka, and Qatar, with recent expansions into Cambodia and the Maldives.
Entities
Coal India · India · International Monetary Fund · MOIL · Motilal Oswal Financial Services Ltd · NMDC · Narendra Modi · National Payments Corporation of India · Reserve Bank of India · Systematix · Unified Payments Interface
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] The overall EBITDA margin for covered companies increased to 21.6 per cent in 1QFY27.
- [● 2 SOURCES] The outlook for India's metals and mining sector is improving.
- [○ 1 SOURCE] NMDC is viewed positively due to incremental volumes and mine debottlenecking.
- [● 2 SOURCES] Non-ferrous companies are expected to be the primary drivers of earnings growth in the sector.
- [● 2 SOURCES] Non-ferrous company margins rose to 23.2 per cent in 1QFY27.
- [● 15 SOURCES] Annual UPI transaction value rose from Rs 0.07 lakh crore in FY 2016-17 to approximately Rs 314 lakh crore in FY 2025-26. kashmirlife.net · theshillongtimes.com · www.deccanchronicle.com · www.newsbytesapp.com · ebnw.net · +3 more
- [● 10 SOURCES] UPI accounted for nearly 49 percent of global real-time payment transaction volume in 2024/2025. kashmirlife.net · theshillongtimes.com · www.mangalorean.com · newsable.asianetnews.com · morungexpress.com
- [● 18 SOURCES] Annual UPI transaction volume grew from 1.78 crore in FY 2016-17 to over 24,162 crore in FY 2025-26. kashmirlife.net · theshillongtimes.com · www.deccanchronicle.com · www.newsbytesapp.com · ebnw.net · +5 more
- [● 3 SOURCES] NPCI launched UPI on August 25, 2016.
- [● 14 SOURCES] The Unified Payments Interface (UPI) has completed 10 years since its launch. kashmirlife.net · theshillongtimes.com · www.deccanchronicle.com · dainiknavajyoti.com · ebnw.net · +2 more
- [● 5 SOURCES] UPI is the world's largest real-time payment system by transaction volume. kashmirlife.net
- [● 17 SOURCES] UPI was launched on August 25, 2016, by the National Payments Corporation of India (NPCI). kashmirlife.net · theshillongtimes.com · www.deccanchronicle.com · ebnw.net · www.newsbytesapp.com · +4 more