Hyderabad: Digital payments through the Unified Payments Interface (UPI) recorded a sharp surge in India, crossing a daily average of ₹90,446 crore in August, the State Bank of India (SBI) revealed in its latest economic report. The milestone highlighted India’s growing reliance on UPI for both small and high-value payments.
Strong growth through 2025
According to SBI’s report, UPI transactions showed consistent growth through 2025. In January, the daily average stood at ₹75,743 crore. By July, it climbed to ₹80,919 crore, before registering its steepest jump in August by breaching the ₹90,000 crore mark.
The report also noted a major rise in transaction volumes. Between January and August, daily transactions increased by 127 million to reach 675 million. This reflected how Indians were increasingly using UPI for a wide spectrum of payments, from peer-to-peer transfers to merchant transactions.
SBI leads the pack
SBI emerged as the top remitter bank, processing 5.2 billion UPI transactions during the period. This placed it ahead of other large banks in the ecosystem. The report credited robust infrastructure, widespread adoption, and improved rural penetration for sustaining the momentum.
Wider impact on the economy
Analysts say the surge in UPI use strengthens India’s digital economy push. It reduces dependence on cash, improves transparency, and supports government goals of financial inclusion. According to the Reserve Bank of India, digital payments now account for a major share of retail transactions.
Experts also point to UPI’s role in enabling innovation, with integrations into e-commerce, bill payments, and even international transfers under trial. NPCI has expanded UPI’s reach to global corridors, allowing Indian travellers to pay via UPI in countries such as Singapore, the UAE, and Mauritius.
