India’s digital payments ecosystem continues its rapid expansion, with the Unified Payments Interface (UPI) maintaining a dominant position in transaction volumes, according to the Reserve Bank of India’s Payment Systems Report for the six months ending June 2025.
The report shows that digital transactions in India have grown 38 times in volume and more than three times in value over the past decade. In the first half of 2025 alone, the total number of payment transactions stood at ₹12,549 crore in volume and ₹1,572 lakh crore in value, with digital payments accounting for 99.8 percent of transactions by volume.
UPI remained the most preferred payment method, contributing 85 percent of the total transaction volume, though only 9 percent in value. In contrast, the Real-Time Gross Settlement (RTGS) system was responsible for 69 percent of the total transaction value, underscoring its role in high-value fund transfers.
The RBI report also highlighted the continued growth of retail systems such as NEFT, IMPS, NACH, BBPS and NETC, reflecting India’s deepening digital payments infrastructure. UPI transactions alone rose to ₹10,637 crore in the first half of 2025, amounting to ₹143.3 lakh crore.
RBI Managing Director Vivek Deep said in his foreword that the continued evolution of India’s payment systems has made them more efficient, inclusive and resilient, playing a crucial role in supporting the country’s digital transformation and economic growth.
Published on October 24, 2025
#RBI #report #highlights #rise #digital #payments #UPI #leading #Indias #cashless #transformation