Finance Minister Nirmala Sitharaman highlighted on Thursday that the Unified Payments Interface (UPI) platform processed 754 million payments worth Rs 1.02 lakh crore on October 18, marking the highest single-day tally, as consumer demand surged due to the GST rate cuts.

During the three days between Dhanteras and Diwali, the average

UPI volumes stood at 736.9 million — higher than 647.46 million in the corresponding period a month ago, the Finance Minister said.

“It has been a cracker of a Diwali for retailers this year as GST rate cuts have boosted consumption, enabling the middle class to add more items to their shopping bags this festive season,” she observed.

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