The government has informed that nearly 55.49 crore users have onboarded on UPI as of June this year. In a written reply to a question in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary has said that UPI transactions grew 24,162 crore in volume and 314 lakh crore in value in the financial year 2025-26.
Mr Chaudhary said that in order to make UPI-based transactions secure and transparent, various initiatives have been undertaken by the government, RBI and National Payments Corporation of India.
These include risk-based transaction limits to curb fraudulent transactions, safeguards against unauthorised mobile number changes and misuse of SMS-based authentication, as well as enhanced security requirements for UPI applications.
The Minister also informed that UPI is linked with the payment systems of various countries to facilitate Person-to-Person remittances and Person-to-Merchant transactions.
(ADVERTORIAL DISCLAIMER: The above release has been taken from News on Air. No editors from The Mainstream were involved in creation of this content.)
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