In the bustling city of Mumbai, the average daily transactions using UPI hit a record high of 46.3 crore in June, surpassing the previous month’s 45.3 crore. Furthermore, the average daily transaction value also saw an increase, rising to Rs 66,903 crore from Rs 65,966 crore in May.
Despite the total number of transactions in June amounting to 1,389 crore, a decrease from May’s 1,404 crore due to the fewer days in the month, the year-on-year increase stands at an impressive 49%. One notable trend highlighted by bankers is the significant rise in UPI usage for investments in capital markets.
This surge in digital transactions underscores the growing popularity and convenience of UPI as a preferred payment method, reflecting the shift towards a more cashless economy. As more individuals and businesses embrace digital transactions, the future of financial transactions in India is undoubtedly heading towards a more efficient and seamless digital landscape.
