UPI transactions rise 7.7% to 730 crore in October

Transactions through UPI rose 7.7 per cent to 730 crore and the total value stood at more than Rs 12.11 lakh crore in October. In September, there were 678 crore UPI-led digital transactions worth Rs 11.16 lakh crore.

The number of instant interbank fund transfers through IMPS (Immediate Payment Service) in October stood at 48.25 crore and the value was at Rs 4.66 lakh crore. In terms of transactions, it was higher by 4.3 per cent compared to September, according to the monthly data from the National Payments Corporation of India (NPCI) released on Tuesday.

The NETC FASTag, which facilitates automatic toll collection at NHAI’s toll booths across the country, registered a 9.3 per cent growth in the number of transactions compared to 28.3 crore in September.