UPI Surges Past Rs 314 Lakh Crore in Payments Since Launch
Since its launch on August 26, 2016, UPI has transformed India into a digital payments powerhouse with over 55 crore users and 6.5 crore merchants transacting daily using QR codes and interoperable apps. Operated by the National Payments Corporation of India (NPCI) as public infrastructure, UPI enables inclusive, fee-free transactions for small merchants. In 2025-26, India made payments worth Rs 314 lakh crore through UPI, with discussions about potential MDR frameworks for certain categories of transactions.
15 AUG 2026
— The Hindu
Cash usage in India grew from 4% to 12% between 2023-24 and 2025-26, outpacing the 18.7% growth in UPI transaction values in 2026-27.
19 AUG 2026
— NDTV
Finance Minister Nirmala Sitharaman affirmed that UPI will remain free for consumers, while Santanu Paul, former NPCI chief, advocates for continued free access for ordinary citizens and small businesses.
26 AUG 2026
· THIS STORY — NDTV
Since its launch in 2016, UPI has rapidly transformed India into a digital payments leader, facilitating over 55 crore user transactions daily.
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