UPI volume, value post strong growth during Diwali as festive spending lights up digital payments
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Festive spending drove a sharp increase in digital payments during the Diwali weekend, with UPI transactions rising 28% to 3.75 billion.
- ✓Data from the NPCI showed that transaction value during the November 5-8 period grew 38% to Rs 4.99 lakh crore.
- ✓Many people used digital modes for their festive shopping.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Economic Times
- Reading Speed
- 1 Minute(s)
- Market Focus
- India Economy
This year, November 6, which coincided with Dhanteras, recorded UPI transactions worth Rs 1.37 lakh crore, the second-highest daily transaction value on record. Dhanteras is traditionally considered as an auspicious day to make high-value purchases. Transaction volumes hit a record the following day, November 7, at 975.8 million.
Bengaluru: Festive spending drove a sharp increase in digital payments during the Diwali weekend, with transactions on the Unified Payments Interface rising 28% year-on-year to 3.75 billion over four days, according to data released by the National Payments Corporation of India (NPCI). Transaction value during the November 5-8 period increased 38% to Rs 4.99 lakh crore.During the corresponding four days last year -- from October 17 to 20 -- UPI
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Economic Times
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