In a post shared on X, the NPCI said this was a record milestone. It also noted that UPI transactions in August saw a 34% year-on-year (YoY) growth, reflecting how digital payments continue to gain momentum across the country.

Transaction Value and Daily Average

According to the report, the NPCI highlighted that UPI transactions in August were valued at Rs 24.85 lakh crore, slightly below Rs 25.08 lakh crore in July. Despite the dip, this still marked a 21% year-on-year (YoY) increase over August last year.

On average, 645 million transactions were processed daily through UPI in August, with a daily value of Rs 80,177 crore.

Government Targets and Future Outlook

The Centre has already set an ambitious goal of reaching 1 billion (100 crore) daily UPI transactions, which experts believe is achievable by next year if this growth trend continues.

Industry voices have also weighed in. Akash Sinha, CEO and Co-founder of Cashfree Payments, told Mint that crossing 20 billion UPI transactions in a single month is “more than just a milestone for India.” He added that this proves digital payments are now the backbone of the country’s economic progress.

Similarly, Mohit Bedi, Co-founder of Kiwi, called India’s UPI growth “extraordinary,” underlining how the platform has become the default payment method for both consumers and businesses.

Recent Growth Trends

The upward trend is consistent. In June 2025, the NPCI reported 18.40 billion transactions with a transaction value of Rs 24.04 lakh crore. While the numbers were lower than July and August, the steady climb shows the strong adoption of UPI across India.

A report by the State Bank of India, cited by ANI, also confirmed this. It showed that average daily transaction value increased from Rs 75,743 crore in January to Rs 80,919 crore in July. The report stated: “UPI transactions have expanded significantly both in value and volumes.”

Role of Leading Banks

The SBI report also provided details on which banks are driving this ecosystem. The State Bank of India emerged as the top remitter member, handling 5.2 billion transactions, nearly 3.4 times higher than the second-largest remitter.

At the same time, Yes Bank ranked first as the leading beneficiary member, recording nearly 8.0 billion transactions. This highlights how public sector banks dominate remittances, while private banks are stronger in receiving payments.

State-Level Adoption

On the regional front, Maharashtra has emerged as the number one state in UPI usage, contributing a 9.8% share in July. Karnataka followed with 5.5%, while Uttar Pradesh was close behind at 5.3%.

Interestingly, Uttar Pradesh is the only north Indian state among the top five, pointing to how digital payments are expanding well beyond their traditional urban and southern India strongholds.

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Sumit Kumar, an alumnus of PDM Bahadurgarh, specializes in tech industry coverage and gadget reviews with 8 years of experience. His work provides in-depth, reliable tech insights and has earned him a reputation as a key tech commentator in national tech space. With a keen eye for the latest tech trends and a thorough approach to every review, Sumit provides insightful and reliable information to help readers stay informed about cutting-edge technology.

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