 Early Times Report
JAMMU, Mar 10: Senior BJP leader and Rajya Sabha Member Er. Ghulam Ali Khatana highlighted the significant growth in UPI transactions and credit card spending, marking an all-time high. He stated that in January 2025, UPI transactions surpassed 16.99 billion, with a total transaction value of Rs 23.48 trillion. The cumulative UPI transactions for the financial year 2023-24 exceeded 131 billion, with the total transaction value crossing Rs 200 trillion. He further noted that 62.35% of UPI transactions in January 2025 were person-to-merchant, while 37.65% were person-to-person. 80% of retail payments are now facilitated through UPI. Over 641 banks and 80+ apps are integrated into the UPI ecosystem. 80% of UPI transactions were for amounts below Rs 500, highlighting its role in everyday payments. Additionally, credit card spending reached a record Rs 1.86 trillion in January 2025, with key investment segments witnessing a 69% growth over the past two years. Er. Khatana emphasized that these figures reflect India's rapid digital financial transformation, reinforcing its position as a global leader in digital transactions. |
