UPI Transactions Hit Record ₹24.77 Lakh Crore in March

India's Unified Payments Interface (UPI) transactions soared to an all-time high of ₹24.77 lakh crore in March 2025, reflecting a 12.7% increase compared to February, according to data released by the National Payments Corporation of India (NPCI).

The transaction value in February stood at ₹21.96 lakh crore, while in March last year, UPI transactions totaled ₹19.78 lakh crore, highlighting an impressive year-on-year growth of 25%. Transaction volumes also surged by 36% over the past year, underscoring India's accelerating shift towards digital payments.

Dilip Modi, founder and CEO of Spice Money, hailed this milestone, stating that the record-breaking ₹24.8 lakh crore UPI transactions in March showcase the "unstoppable momentum of India’s digital payments revolution." He noted that the daily average transaction value reached ₹79,903 crore, marking a 1.9% rise from February, with transaction volumes increasing by 2.6%.

UPI, operated by NPCI under the Reserve Bank of India (RBI) and the Indian Banks’ Association (IBA), continues to dominate India's retail payment landscape, facilitating real-time transactions between individuals and merchants.