HomeStock marketUPI Transaction Value Touches Rs 10.7 Lakh Crore Through 657 Crore Dealings...

UPI Transaction Value Touches Rs 10.7 Lakh Crore Through 657 Crore Dealings In August- Newslength

Unified Funds Interface (UPI) clocked one other report excessive in August, each by way of quantity and worth of transactions. India’s digital fee transactions worth via UPI rose to Rs 10.73 lakh crore in August, up marginally from the earlier month, in keeping with NPCI information confirmed on Thursday.

In July 2022, the UPI-based digital transaction worth stood at Rs 10.63 lakh crore, the PTI reported.

In accordance with the info launched by the Nationwide Funds Company of India (NPCI), the worth of UPI transactions throughout August pertains to a complete of 657 crore transactions, up from 628 crore within the previous month. In June, there have been 586 crore transactions, valued at price Rs 10.14 lakh crore.

Of the opposite information units on the NCPI framework, the moment transfer-based IMPS clocked transactions price Rs 4.46 lakh crore in August, referring to a complete of 46.69 crore transactions. In July, it stood at Rs 4.45 lakh crore in worth phrases via a complete of 46.08 crore transactions.

The NETC FASTAG for computerized toll deduction at toll plazas witnessed transactions price Rs 4,245 crore in August, up from Rs 4,162 crore within the previous month. When it comes to variety of transactions, this associated to over 27 crore in August, as towards 26.5 crore in July.

When it comes to Aadhaar-based fee, AePS, the transactions got here down by practically 10 per cent to Rs 27,186 crore in August, as towards Rs 30,199 crore in earlier month. The variety of transactions fell to 10.56 crore from 11 crore.

The Reserve Financial institution of India (RBI) not too long ago floated a dialogue paper, looking for feedback from stakeholders on whether or not UPI transactions ought to be charged.

The central financial institution has requested if UPI transactions are charged, then ought to the service provider low cost fee (MDR) be imposed based mostly on the transaction worth or ought to a hard and fast quantity be charged as MDR no matter the transaction worth.



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