Festive spending drove a sharp increase in digital payments during the Diwali weekend, with UPI transactions rising 28% to 3.75 billion. Data from the NPCI showed that transaction value during the November 5-8 period grew 38% to Rs 4.99 lakh crore. Many people used digital modes for their festive shopping.
This year, November 6, which coincided with Dhanteras, recorded UPI transactions worth Rs 1.37 lakh crore, the second-highest daily transaction value on record. Dhanteras is traditionally considered as an auspicious day to make high-value purchases. Transaction volumes hit a record the following day, November 7, at 975.8 million.
Bengaluru: Festive spending drove a sharp increase in digital payments during the Diwali weekend, with transactions on the Unified Payments Interface rising 28% year-on-year to 3.75 billion over four days, according to data released by the National Payments Corporation of India (NPCI). Transaction value during the November 5-8 period increased 38% to Rs 4.99 lakh crore.During the corresponding four days last year -- from October 17 to 20 -- UPI