UPI Transactions Hit Record ₹27.28 Trillion in October
Issue: To analyze the dramatic surge in the volume and value of transactions processed through the Unified Payments Interface (UPI) during October 2025 and identify the major economic and policy factors contributing to this record growth.
Facts:
- The GST 2.0 rate rationalization, which slashed tax rates on many consumer goods and automobiles, took effect in late September.
- October 2025 marked the beginning of the peak festive buying season (Navratri and pre-Diwali sales).
- The National Payments Corporation of India (NPCI) released the data for UPI performance in October.
Decision:
The Unified Payments Interface (UPI) system clocked an all-time high of 20.7 billion transactions worth a record ₹27.28 trillion (₹27.28 lakh crore) in October 2025.
Key TakeDowns:
- Record Value: The total transaction value of ₹27.28 trillion is a significant jump from September’s value of ₹25.7 trillion.
- Dual Growth Drivers: The surge is attributed to two combined factors:
- Festive Consumption: Robust spending across retail and e-commerce platforms driven by the festive season buying spree.
- GST 2.0 Stimulus: Higher business activity and consumption spurred by the implementation of GST 2.0 relief measures, which increased affordability.
- Digital Adoption: The data underscores UPI’s position as the backbone of India’s digital economy, with deepening adoption even in smaller towns and rural areas.
- Industry Outlook: Analysts expect the high momentum to be sustained through the remainder of the fiscal year due to continued digital payment innovation and the upcoming wedding and travel seasons. ***
Source :- New Indian Express