Prime Minister Narendra Modi emphasized the success of his own Unified Payments Interface (UPI) on Friday, which states that only UPI accounts for 50 percent of real -time transactions in the world.
“Our UPI platform feels like a miracle for the world today … We have the opportunity (to become self-reliant),” he said in his speech to the nation on the 79th Independence Day of the Ramparts of the Red Fort.
“50 percent of the total real -time transactions is only via the UPI,” he said.
Since the launch in 2016, UPI has grown exponentially, both in terms of transaction volume and value.
In FY25 UPI has registered a transaction volume of 18,587 crore and a transaction value of £ 261 Lakh Crore. In addition, UPI has reached a milestone by including 1,947 Crore transactions in July 2025.
UPI is already in seven countries, including the VAE, Singapore, Bhutan, Nepal, Sri Lanka, France and Mauritius. The entry into France is a milestone because it is the first step in UPI in Europe. This allows Indians who travel or live there seamlessly without the usual hassle of foreign transactions.
NPCI, an initiative of the Reserve Bank of India (RBI) and the Indian Banks’ Association, is an umbrella organization for operating retail payments and settlement systems in India (IBA).
It is the UPI used for real -time payments between colleagues or at the end of the traders while they make purchases.
Speaking of Prime Minister Mudra Yojana, Modi said that crores have benefited from people from the scheme and have been able to set up their small business.
Through their small companies, he said, they were able to create jobs.
Under the Prime Minister Mudra Yojana, collateral-free institutional credit is extended to £ 20 Lakh by member loan institutions (MLIs) to non-financeed micro/ small business units for income-generating activities in the production, trade and service sector, including activities assigned to agricultural.
Published on August 15, 2025
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