Celebrating a decade of innovation, the Unified Payments Interface (UPI) has transformed India's financial landscape, becoming the world's largest real-time payment system and a testament to the nation's digital empowerment.
Key Points
- UPI celebrates 10 years, hailed by Home Minister Amit Shah as a key innovation for India's digital transformation.
- Launched by NPCI in 2016, UPI has become the world's largest real-time payment system.
- The platform has seen a 13,000-fold surge in transaction volume and a 4,000-fold increase in transaction value since its inception.
- UPI empowers users with swift, seamless, and secure mobile-based cashless transactions.
- Its success underscores the achievements of the Digital India initiative in financial inclusion.
Union Home Minister Amit Shah on Tuesday hailed UPI as a swift and secured interface and said it is an example of Prime Minister Narendra Modi's vision of paving India's journey of transformation through innovation. The Unified Payments Interface (UPI) completed its 10 years of operation on Tuesday.
In a message on 'X', Shah said, "UPI is an example of Modi Ji's vision of paving India's journey of transformation through innovation."In the #10YearsOfUPI, our nation has given the world's largest real-time payment system and proven what we can achieve through Digital India in empowering people with a swift, seamless and secured interface."
UPI's Remarkable Growth Trajectory
The National Payments Corporation of India (NPCI) had launched the UPI on August 25, 2016 as a mode of primarily mobile-based cashless transactions under the regulatory oversight of the Reserve Bank of India.
Clocking a 13,000-fold surge in transaction volume since its launch, the UPI was used in transactions worth Rs 314 lakh crore in 2025-26.
"Annual transaction volume expanded from just 1.78 crore transactions in FY 2016-17 to over 24,162 crore transactions in FY 2025-26, representing an almost 13,000 fold surge in transaction volume.
"Parallelly, transaction value rose sharply from Rs 0.07 lakh crore in FY 2016-17 to approximately Rs 314 lakh crore in FY 2025-26, translating into a more than 4,000-fold increase in transaction value," a government statement said.
