New Delhi, Aug 11 UPI transactions grew from 92 crore in FY 2017-18 to 18,587 crore in FY 2024-25, with a CAGR of 114 per cent, the Parliament was informed on Monday.
During the same period, the value of transactions has grown from Rs 1.10 lakh crore to Rs 261 lakh crore. In July 2025, UPI reached another milestone, recording over 1,946.79 crore transactions in a single month for the first time, Minister of State for Finance, Pankaj Chaudhary, said in a written reply to a question in Lok Sabha.
The total volume of digital payment transactions in the country has increased from 2,071 crore in FY 2017-18 to 22,831 crore in FY 2024-25, growing at a CAGR of 41 per cent.
During the same period, the value of transactions has grown from Rs 1,962 lakh crore to Rs 3,509 lakh crore, the minister said.
The minister also said that the government/Reserve Bank of India have taken various measures over the last few years to address the issues related to credit discipline, responsible lending, improved governance, adoption of technology, and proper regulation of co-operative banks.
“Governance reforms in PSBs have been carried out through reforms like arms-length selection of top management through the Financial Services Institutions Bureau, introduction of non-executive chairmen in nationalised banks, widening talent pool and instituting performance-based extension for Managing Directors," he said.
Enhanced Access and Service Excellence (EASE) reforms have enabled objective and benchmarked progress on all key areas in PSBs, such as governance, prudential lending, risk management, technology- and data-driven banking, and outcome-centric HR.
Among the measures implemented to improve credit flow to Micro, Small and Medium Enterprises (MSMEs) and achievements are the Mutual Credit Guarantee Scheme for MSMEs (MCGS-MSME) and the Emergency Credit Line Guarantee Scheme (ECLGS).
Subsequent to the Union Budget 2024-25 announcement, the government launched a New Credit Assessment Model for MSMEs. The model leverages the digitally fetched and verifiable data and devises automated journeys for MSME loan appraisal using objective decisioning for all loan applications and model-based limit assessment for both Existing to Bank (ETB) as well as New to Bank (NTB) MSME borrowers.
Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), under the administrative purview of the Ministry of MSME, provides guarantee cover up to 85 per cent for loans amounting to Rs. 10 crore or below, extended by eligible Member Lending Institutions (MLIs) to Micro and Small Enterprises (MSEs).
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