Economic Policy UPI payments record high of ₹12.82 lakh crore in December Unified Payments Interface (UPI) payments have touched record high of ₹12.82 lakh crore in December, 2022. In December, 782 crore transactions in volume terms were done on the platform. About UPI Platform It is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund routing & merchant payments into one hood. It also provides the “Peer to Peer” collect request Pilot launch was on 11th April 2016 when Dr. Raghuram G Rajan was the Governor of RBI at Mumbai. The service is provided by the NPCI (National Payments Corporation of India)
