Growth Pattern of UPI Transactions
From SBI Research Report 'ECOWRAP'
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6/20/20231 min read
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40% of the world's real time digital payments are happening in India only.
73% of digital payments in the country are being done through UPI only.
Every 1 rupee increase in the value of UPI transactions leads to a decline of 18 paisa in debit card transaction.
ATM visits by a person is now 8 times a year which ware 16 times a year earlier.
In year 2017, there were 1.8 crore transactions, which has increased to 8375 crore in 2022-23.
In year 2017, total transactions of ₹6974 crore were done through UPI, which has increased to ₹139 lakh crore in 2022-23.