Digital Transactions through UPI in the country crossed another milestone last month recording transaction value of 5 lakh 4 thousand crore rupees. Transactions via the Unified Payment Interface, UPI surged in March, partly driven by subscriptions for initial public offerings that opened during the month. Value of transactions via the platform, launched in April 2016, rose above the 5 lakh crore mark compared to 4 lakh 25 thousand crore in February.

While volumes have been rising steadily since the platform was introduced, the Covid-19 crisis gave an added push to digital transactions via UPI. For the full financial year 2020-21, the value of UPI transactions stood at 34 lakh 19 thousand crore rupees.