Pavitra Pradip Walvekar Explores UPI’s Role in Transforming India’s Financial Terrain
In August 2023, something big happened in India’s digital payment world. The Unified Payments Interface (UPI), managed by the National Payments Corporation of India (NPCI), hit a milestone. They crossed 10 billion transactions in a month! To put it in perspective, this was a whopping 50% increase compared to the same month last year when there were 6.58 billion transactions.
It’s interesting to note that in July, they almost reached the 10 billion mark with 9.96 billion transactions. There was a tiny dip in June, but things picked up quickly.
Pavitra Pradip Walvekar, who’s involved with Kudos Finance and Investments Private Limited in Pune, shared his thoughts on this. He said, “UPI has come a long way. In October 2019, it hit 1 billion monthly transactions for the first time. And now, in less than four years, it has grown four times! This shows how much people are liking and using UPI.”
Now, UPI is everywhere. Whether you’re buying something from a street vendor or a fancy mall, UPI makes it easy to pay. India is leading the world in digital transactions. This means people from all walks of life are using and trusting UPI for their payments. It’s a big success story!
