PM Modi praises UPI

Nirmala Sitharaman, the Union Finance Minister, noted in a Tweet on Tuesday afternoon that the Unified Payments Interface (UPI) recorded more than 6 billion transactions in July, which is the greatest number since the system’s launch in 2016. UPI reported 6.28 billion, according to data from the National Payments Corporation of India (NPCI).

In terms of transaction volume, July had a month-over-month increase of 7.16%. The number of transactions nearly doubled year over year (YoY). The number of transactions rose by 4.76 percent in July while increasing by 75 percent year over year.

The UPI recording 6 billion transactions in July has been welcomed by Prime Minister Narendra Modi as a “amazing success” and he claims it shows how determined the populace is to adopt new technology and create a more sustainable economy.

He made these comments in response to a tweet from Nirmala Sitharaman, the minister of finance, in which she claimed that “UPI records 6 billion transactions in July, highest ever since 2016.”

PM Modi replied to her tweet by saying, “This is a fantastic achievement. It demonstrates the nation of India’s broad willingness to adopt cutting-edge technology and clean up its economy.”

The Prime Minister said, “Digital payments were very useful during the COVID-19 outbreak.”