India’s digital payment ecosystem reached dazzling new heights this Diwali, as the Unified Payments Interface (UPI) recorded its highest-ever single-day transaction value and volume. According to data from the National Payments Corporation of India (NPCI), UPI transactions on Diwali eve (October 18) surged to 754 million, amounting to a record Rs 1.02 lakh crore, underscoring how festive fervour and lower GST rates have powered India’s cashless economy. Advertisement

In October, UPI averaged Rs 94,000 crore in daily transactions, up 13% from Rs 82,991 crore in September. The month saw an average of 695 million daily transactions, up from 654 million the previous month. Overall, UPI clocked an astounding Rs 23.5 lakh crore across 16.58 billion transactions, reflecting the deepening penetr

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