NEW DELHI, Aug 25: Prime Minister Narendra Modi on Tuesday described the Unified Payments Interface (UPI) as a major turning point in India's digital payments journey as the platform completed 10 years of operations.
The UPI was launched on August 25, 2016, by the National Payments Corporation of India (NPCI) under the regulatory oversight of the Reserve Bank of India (RBI). Since then, it has emerged as a key pillar of India's digital payments ecosystem and a major driver of financial inclusion.
"A decade ago, UPI was rolled out, marking a major turning point in India's digital payments journey. The sheer scale and reach of UPI are something every Indian must be proud of," Modi said in a post on X.
The Prime Minister also invited people to share their experiences with UPI and explain how digital payments have affected their lives.
Over the past decade, UPI has recorded a dramatic rise in transaction volumes. Annual transactions increased from 1.78 crore in 2016-17 to more than 24,162 crore in 2025-26, representing an almost 13,000-fold increase.
The value of transactions also surged from Rs 0.07 lakh crore in 2016-17 to around Rs 314 lakh crore in 2025-26, marking a more than 4,000-fold increase.
According to an official release, UPI has become one of the most successful components of India's Digital Public Infrastructure (DPI). Its interoperable, real-time payment system enables seamless person-to-person and person-to-merchant transactions through a single platform.
The milestone highlights the rapid transformation of India's digital payments landscape and the growing adoption of technology-driven financial services across the country.
