UPI transactions drop in March, RTGS shoots up due to lockdown

April 21, 2020 10:24

After constantly rising for the past several months, the volume, as well as value, of transactions through UPI payment system dropped in March due to the 21-day nationwide lockdown imposed to combat the coronavirus infection. Unified Payments Interface is an instant payment system developed by the National Payments Corporation of India, an RBI regulated entity. UPI is built over the IMPS infrastructure and allows one to instantly transfer money to any bank account.

According to the data, the volume of UPI transactions in March slipped to 124.68 crore from 132.57 crore in February. The value of UPI transactions too came down to Rs 2.06 lakh crore during March, from Rs 2.23 lakh crore in February.

The number and value of transactions through the UPI had been constantly growing, barring marginal decline in some months. The 21-lockdown imposed by the government with effect from March 25 to fight coronavirus seems to have adversely impacted the transactions through UPI.

« Back to LIVE

TOP STORIES

Kohli's Stunning Run Out!

Kohli effected a superb direct hit at the bowler's end to end Shahrukh's stay in the middle.

Red Bull's Max Verstappen takes pole for Miami Grand Prix

Red Bull's triple World champion Max Verstappen claimed pole position on Saturday for the Miami Grand Prix, to start from the front of the grid for the sixth straight race this season.

Siraj Regains His Mojo

With the IPL 2024 season heading towards its business end, and RCB finding themselves in a must-win situation, Player of the Match Mohammad Siraj put up a stellar show with the ball in front of home fans.

Faf Or Kohli? Whose Knock Was Better?

Virat Kohli and Faf du Plessis powered RCB to their best-ever Powerplay score in the IPL.

EPL PIX: Manchester City thump Wolves; Arsenal down Bouremouth

IMAGES from Premier League matches played on Saturday.