Upcoming Events
India’s Monthly Cashless Transactions exceed than of 3 Yrs in US admin February 3, 2024

India’s Monthly Cashless Transactions exceed than of 3 Yrs in US

Proud to say


Gateway to the world of
Meaningful, Progressive, Growth-Focused Entrepreneurs
building the New India

IamSMEofIndia Business Update

India s Monthly Cashless Transactions Exceed Than 3 Years In US

Union External Affairs Minister S Jaishankar stated that India has seen a remarkable shift towards cashless payments, highlighting that Indians now make more cashless transactions in a month than the entire United States does in three years.


Highlighting the evolution of UPI in the digital payment sector, Jaishankar noted that in the fiscal year 2022-23, India witnessed an exceptional surge in UPI transactions, reaching 8,375 crore transactions. This marked a remarkable compound annual growth rate (CAGR) of 147% in volume, making UPI a dominant player, contributing to 62% of digital payment transactions.

The Reserve Bank of India (RBI) reported that UPI transactions reached a total value of Rs 17.4 lakh crore in December 2023. The value of UPI transactions has seen substantial growth, rising from Rs 1 lakh crore in FY 2017-18 to Rs 139 lakh crore in FY 2022-23, reflecting a CAGR of 168%.

The data underscores the growing acceptance and usage of UPI, indicating a significant milestone in India's journey towards a cashless economy.


Join the Movement. Feel the Pride!

         Proud to say IamSMEofIndia 

Investment Banking . Broking . PMS . Angel Network . Private Equity
Official SME IPO & PE Funding Partner of IamSMEofIndia

Official Wealth Manager
Transforming Employees' Health Experience

Integrated Association of Micro Small & Medium Enterprises of India 
(Not-for-Profit Institution for Growth & Development of MSMEs)
IamSMEofIndia, Sector 11, Mathura Road,
Faridabad- 121006, Haryana, India
Ph: +91-9711101666 (EVP) ; +91-9711123111 (Executive Secretary)
E-mail: info@iamsmeofindia.com ; Website: www.iamsmeofindia.com  

CIN NO : U73100HR2009NPL039044

IamSMEofIndia is India's first "GOLD GRADE" National Level Business Member Organisation Accredited by NABET-QCI
Adjudged No.1 at the National Level as "The Most Responsible Business Member Organisation"


Write a comment
Your email address will not be published. Required fields are marked *