UPI Transactions Hit Record ₹24.77 Lakh Crore in March 2025

• UPI transactions in March 2025 reached a record ₹24.77 lakh crore, a 12% rise from February.
• IMPS transactions in March 2025 hit 462 million, growing 14% from the previous month.

India’s Unified Payments Interface (UPI) has achieved another major milestone, processing transactions worth ₹24.77 lakh crore in March 2025. The surge in digital payments underscores UPI’s dominance in India’s evolving financial landscape.

UPI recorded a 12% month-on-month rise in transaction value, while volumes surged to between 18.3 billion and 19.78 billion transactions, up from February’s 16.11 billion. On a daily basis, UPI handled over 590 million transactions, processing ₹79,910 crore per day.

This marks the first time UPI’s monthly transaction value has crossed ₹24 lakh crore. Year-over-year, March saw a 25% jump in value and a 36% rise in volume, reflecting growing adoption across businesses and consumers.

For the financial year 2024-25, UPI transactions totaled ₹260.56 lakh crore, a 30% increase from the previous year. The annual volume also saw a steep 42% rise, reaching 131.14 billion transactions.

Merchant adoption, government initiatives, and an ongoing shift toward cashless transactions played key roles in this growth. Despite a slight dip in February, UPI rebounded in March, likely driven by fiscal year-end spending.

Immediate Payment Service (IMPS) transactions also saw a notable rise, reaching 462 million in March, up 14% from February. The total value of IMPS transactions grew 19% to ₹6.68 trillion.

Meanwhile, banks faced occasional UPI network disruptions due to increased year-end workload. From April 1, inactive mobile numbers linked to bank accounts will lead to UPI ID deactivation, reinforcing security measures.

Edited by Harshajit Sarmah