UPI Hits Record High During Diwali Season
India’s Unified Payments Interface (UPI) achieved unprecedented transaction volumes during the Diwali festival period, driven by festive spending and reduced GST rates, according to data from the National Payments Corporation of India (NPCI).
Key Highlights
- October 18 recorded 754 million transactions worth ₹1.02 lakh crore – the highest single-day volume ever
- Three-day Dhanteras to Diwali period averaged 736.9 million daily transactions
- October saw average daily transaction value of ₹92,909.4 crore
Festive Period Performance
The three-day festive period between Dhanteras and Diwali showed significant growth compared to the previous month. Average transaction volumes reached 736.9 million, substantially higher than the 647.46 million recorded a month earlier.
Transaction values during this period averaged ₹87,568.70 crore, marking a healthy increase from ₹75,389.4 crore in the previous month.
Sustained Monthly Growth
October maintained strong momentum with average daily transactions reaching 691.39 million, up from 656.91 million in September. The consistent growth reflects expanding adoption of UPI among both retail users and merchants across India.
The platform’s performance demonstrates the deepening penetration of digital payments during key shopping seasons, with lower GST rates providing additional impetus to consumer spending.
