During Digital Payments Awareness Week, Governor of the Reserve Bank of India (RBI) Shaktikanta Das provided an update on routine UPI payment transactions. In one year, he claimed, there had been a 50 percent increase in UPI transactions. This amount now exceeds 36 crores. This amount was 24 crores in February 2022. The amount of this transaction, according to Shaktikanta Das, who opened the Digital Payment Awareness Week at the RBI headquarters, is Rs 6.27 lakh crore.
The amount has surpassed one billion dollars
which is 17% greater than the Rs 5.36 lakh billion recorded in February 2022. For the past three months, he claimed, monthly digital payment transactions have consistently exceeded the Rs 1,000 crore threshold. The governor of the RBI stated that many other nations have expressed their desire to participate in such a payment agreement since the agreement between UPI and Singapore’s Penau.
Ten days after the UPI-Penau agreement was signed
the government announced that at least six other nations would sign the document. The UPI-Penau agreement was inked ten days ago, according to Das. There were 120 transactions for transferring money out of Singapore during this time and 22 transactions for sending money in. We have taken a number of measures toward the globalization of our payment system and the cross-border integration of the Rapid Payment System between India and Singapore, according to Das.
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