India has recorded 355 crore digital transactions through Unified Payments Interface, UPI in August this year. As per data released by National Payments Corporation of India, a total of over six lakh 39 thousand crore rupees digital transactions have been registered. In July this year, a total of 324 crore transactions worth over six lakh crore rupees were recorded.
UPI is a common system that powers multiple bank accounts into a mobile application, merging several banking features, seamless fund – routing and merchant payments.
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