UPI transactions near record level of ₹29.8 lakh crore in August
The value of transactions was ₹29.82 lakh crore in August, up from ₹24.85 lakh crore in the same month a year ago, registering 20% annual growth
UPI transactions in India reached a near-record level of ₹29.8 lakh crore in August, according to data from the National Payments Corporation of India (NPCI). This figure is close to the record-high levels seen in May and July 2026. The volume of UPI transactions in August hit a new high of 24.51 billion, significantly higher than the previous month's 23.66 billion and the previous year's 22.72 billion.
The value of transactions grew by 20% year-over-year to ₹29.82 lakh crore in August, up from ₹24.85 lakh crore in August 2025. The growth in transaction value was accompanied by a 22% increase in transaction volume to 24.51 billion in August 2026, compared to 19.63 billion in August 2025. UPI's volume growth in August was driven by festive activities such as Raksha Bandhan, which spurred a surge in peer-to-peer transfers and small-ticket gifting.
The expanding reach and depth of the UPI ecosystem, coupled with consistent aggregate transaction value growth over the past three months, underscores the platform's increasing prominence in India's digital payments landscape. UPI is now accepted in 11 countries, including Uzbekistan, which joined the list as the latest addition.
Written by urgent.news from The Hindu's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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