Transactions on the Unified Payments Interface (UPI) stood Rs 4.93 lakh crore in April 2021, up by 3.6x compared to the same month in the previous year. Overall, transaction volumes in creased by 2.6x over the last year to 2.64 billion in April. While UPI payment volumes decreased by 3.4% to 2.64 billion in April 2021 over the previous month, the UPI transaction value declined by 2.2% compared to March. This steep increase comes after a drastic slump in both metrics in April, given the nationwide lockdown due to the COVID-19 pandemic. Key observations 1. Decrease over March: The number of transactions decreased by 91.7 million in April, whereas the total amount transacted went down by Rs 11,223 crores. In the previous month (March 2021), volume had increased by 439 million and the amount transacted grew by Rs 79,824 crores.…
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