Unified Payments Interface (UPI) Completes a Decade (2016–2026)
On 25 August 2026, India's flagship payment network, the Unified Payments Interface (UPI), marked 10 years of public operations.
Key Facts & Dimensions
- Developed by the National Payments Corporation of India (NPCI) under RBI regulatory oversight under the Payment and Settlement Systems Act, 2007; launched publicly on 25 August 2016.
- Growth Trajectory: Annual transactions rose from 1.78 crore (valued at Rs 0.07 lakh crore) in FY 2016-17 to over 24,162 crore transactions (~Rs 314 lakh crore) in FY 2025-26, commanding nearly 45% of global real-time payment volumes.
- Cross-Border Linkages: Real-time bilateral linkage operationalized with Singapore (PayNow), UAE (Jaywan/AANI), Mauritius, France, Sri Lanka, Nepal, and Bhutan.
UPSC GS-III (Digital Financial Inclusion, Indian Economy, NPCI Infrastructure) and Banking Exams (IBPS/SBI PO/RBI Grade B).