Growth Pattern of UPI Transactions

From SBI Research Report 'ECOWRAP'


6/20/20231 min read

  • 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.