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Unified Funds Interface (UPI) clocked over 6 billion transactions in July – the very best ever since its inception in 2016, stated Union Finance Minister Nirmala Sitharaman in a Tweet on Tuesday afternoon. Based on the Nationwide Funds Company of India (NPCI) information, UPI reported 6.28 billion. NPCI operates the UPI.
By way of quantity of transactions, July recorded 7.16 per cent leap on a month-on-month foundation. On year-on-year (YoY), the amount of transactions practically doubled. The worth of transactions in July elevated by 4.76 per cent whereas 75 per cent YoY.
In the meantime, Prime Minister Narendra Modi has hailed as an “excellent accomplishment” the UPI recording 6 billion transactions in July and stated it signifies the collective resolve of the folks to embrace new applied sciences and make the financial system cleaner.
Make digital funds rapidly, securely, reliably, and conveniently with UPI. #UPI #DigitalPayments@GoI_MeitY @_DigitalIndia pic.twitter.com/bcPfo0KEaK
— NPCI (@NPCI_NPCI) August 1, 2022
His remarks got here in response to a tweet by Finance Minister Nirmala Sitharaman, saying, “UPI data 6 billion transactions in July, highest ever since 2016.”
Responding to her tweet, PM Modi stated, “That is an excellent accomplishment. It signifies the collective resolve of the folks of India to embrace new applied sciences and make the financial system cleaner.”
“Digital funds have been significantly useful throughout the COVID-19 pandemic,” the Prime Minister added.
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