New Delhi, August 25: The Unified Payments Interface (UPI) marks its 10th anniversary today. On this occasion, Prime Minister Narendra Modi emphasized that every Indian should take pride in this digital revolution.
He stated that the launch of the UPI system was a pivotal moment in India’s digital payment history.
In a message on the social media platform ‘X’, PM Modi remarked, “A decade ago, UPI was initiated, and it has proven to be the most decisive decision in India’s digital payment journey. Every Indian should be proud of UPI’s extensive reach and scale.”
He encouraged citizens to share their experiences with UPI and discuss how it has impacted their lives.
According to the Finance Ministry, the annual transaction volume on UPI has surged by 13,000 times over the past decade, reaching 24.16 billion in the fiscal year 2025-26, compared to just 1.78 million in 2016-17.
The total value of UPI transactions skyrocketed to ₹314 trillion in the fiscal year 2025-26, up from ₹0.07 trillion in 2016-17, showcasing an increase of nearly 4,000 times.
Launched by the National Payments Corporation of India (NPCI) on August 25, 2016, UPI has become the backbone of the country’s digital payment system.
The Finance Ministry highlighted that UPI’s scale, reliability, and interoperability have gained global recognition. The International Monetary Fund has identified it as the world’s largest real-time payment system by transaction volume. By 2025, UPI is expected to account for approximately 49% of the global real-time payment transaction volume.
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ABS
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