Prime Minister Narendra Modi hailed the Unified Payments Interface (UPI) as a transformative force in India’s digital payment journey as it marked a decade of existence on Tuesday, stating that its vast scale and reach are a source of pride for every Indian.
The National Payments Corporation of India (NPCI) launched UPI on August 25, 2016, under the regulatory supervision of the Reserve Bank of India (RBI). UPI has since become the backbone of India’s digital payment system and a crucial instrument for financial inclusion.
Writing on the social media platform ‘X’, Modi said, “A decade ago, UPI was launched, bringing a major shift in India’s digital payment journey. The vast scale and reach of UPI are a matter of pride for every Indian.” The Prime Minister also urged people to share their experiences with UPI and the impact it has had on their lives.
A decade ago, UPI was rolled out, marking a major turning point in India’s digital payments journey.
The sheer scale and reach of UPI are something every Indian must be proud of.
Tell me about your UPI experience and how it impacted your life… #10YearsOfUPI pic.twitter.com/Xtto6V6gpU
— Narendra Modi (@narendramodi) August 25, 2026
UPI Becomes the Foundation of Digital Payments Over the Last Decade; Transactions Surge 13,000-Fold
Over the past 10 years, the Unified Payments Interface (UPI) has not only become a vital component of the country’s digital payment ecosystem but has also emerged as a global benchmark for real-time payments.
In a statement, the Ministry of Finance noted that UPI has brought about significant transformation in the country’s digital payment sector since its launch on August 25, 2016. The annual volume of transactions via UPI rose to over 24,162 crore in 2025-26, up from 1.78 crore in 2016-17—marking an increase of approximately 13,000 times.
During the same period, the value of transactions surged more than 4,000-fold, rising to approximately ₹314 lakh crore from ₹7,000 crore in 2016-17. Developed by the National Payments Corporation of India (NPCI) under the supervision of the Reserve Bank of India (RBI), UPI has recorded significant growth in both the volume and value of transactions over the past 10 years.
According to the statement, the year 2026 proved to be a significant milestone in UPI’s growth journey. In May 2026, the monthly transaction volume reached 2,320 crore for the first time. This momentum continued into July, with 2,366 crore transactions recorded—the highest monthly figure in UPI’s decade-long history.
