Kashmir Impulse Desk
New Delhi, Aug 25
Prime Minister Narendra Modi on Tuesday described the Unified Payments Interface as a major turning point in India’s digital payments journey as the system completed 10 years.
UPI was launched on August 25, 2016, by the National Payments Corporation of India under the regulatory oversight of the Reserve Bank of India.
“A decade ago, UPI was rolled out, marking a major turning point in India’s digital payments journey,” Modi said in a post on X.
He invited people to share their experiences of using UPI and its impact on their lives.
UPI transaction volumes rose from 1.78 crore in 2016-17 to more than 24,162 crore in 2025-26, an increase of almost 13,000 times, according to official data.
Transaction value increased from Rs 0.07 lakh crore in 2016-17 to about Rs 314 lakh crore in 2025-26, more than 4000 times higher.
UPI has become a key component of India’s digital public infrastructure, providing real-time, interoperable payments for person-to-person and person-to-merchant transactions, an official release said.
