Overview
- NPCI reported 19.63 billion UPI transactions in September, up 31% year on year, with value rising 21% to Rs 24.90 lakh crore.
- Volumes fell about 2.5% from August’s peak of 20.1 billion, though the average daily count edged up to 654 million and value was broadly flat versus August.
- NPCI lifted person‑to‑merchant ceilings, taking categories such as capital markets and insurance to Rs 5 lakh per transaction with a Rs 10 lakh daily limit.
- Government e‑Marketplace, travel bookings, loan repayments, EMI collections and credit card bill payments now allow up to Rs 5 lakh per transaction, and P2P transfers remain capped at Rs 1 lakh per day.
- NPCI is reported to be developing an EMI‑on‑UPI option, as the finance ministry rules out MDR fees and the RBI governor warns about long‑term sustainability without charges.