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Number of banks on Unified Payments Interface (UPI) in India from August 2018 to June 2023

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Source

Release date

August 2023

Region

India

Survey time period

August 2018 to June 2023

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Number of banks on UPI India 2018- 2023

Published by ÌÇÐÄÆƽâ°æ Research Department, Aug 3, 2023
As of November 2023, about *** banks in India were live on the unified payment interface (UPI). UPI is a product of the National Payments Corporation of India (NPCI) and was launched in 2016. It allows users of payment service providers like PhonePe or GooglePay to use NPCI as switch to connect with banks and transfer money. It is more user-friendly than older transaction modes such as IMPS.
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