Pavitra Pradip Walvekar Unveils UPI's Financial Revolution in India
In August 2023, something significant happened in India's digital payment world. The Unified Payments Interface (UPI), managed by the National Payments Corporation of India (NPCI), reached a major milestone by crossing 10 billion transactions in a single month! This was a huge 50% increase compared to the same month last year, which had 6.58 billion transactions.
Interestingly, in July, UPI almost hit the 10 billion mark with 9.96 billion transactions. There was a small dip in June, but things quickly improved.
Pavitra Pradip Walvekar, who works with Kudos Finance and Investments Private Limited in Pune, shared his thoughts on this achievement. He said, “UPI has come a long way. In October 2019, it hit 1 billion monthly transactions for the first time. And now, in less than four years, it has grown four times! This shows how much people are liking and using UPI.”
Nowadays, UPI is everywhere. Whether you’re buying something from a street vendor or a fancy mall, UPI makes it easy to pay. India is leading the world in digital transactions, meaning people from all walks of life are using and trusting UPI for their payments. It's a big success story!