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About 85% of digital payment transactions take place through UPI in India: RBI Governor
Oct-17-2025

Reserve Bank of India (RBI) Governor Sanjay Malhotra has said that about 85 per cent of the digital payment transactions take place through UPI in India, and the country can be a case study in inclusive, secure, and scalable Digital Public Platforms (DPPs). He said DPPs have become a powerful catalyst for inclusive growth and innovation. 

The RBI Governor has said that foundational platforms for digital identity (Aadhaar) and real-time payments (Unified Payments Interface - UPI) have successfully demonstrated how to build resilient, cost-efficient public service delivery systems at scale. He emphasised that, in the true spirit of ‘Vasudhaiva Kutumbakam’, India is fully committed to international collaboration around such platforms to accelerate digital transformation. He said ‘for us, the guiding principle has been to build such platforms in the public sector as a public good with suitable guardrails, and without a profit motive, and India is a case study in inclusive, secure, and scalable DPPs.’ He added that public and private sector entities can then leverage on these platforms to quickly develop applications across credit, health, social protection, agriculture, and several other domains.

On payment systems, he said the UPI is a critical Digital Public Platform. UPI has transformed the payments landscape, as it enables transfer of payments in real time, efficiently from one account to another across banks. He further said UPI is a powerful catalyst, accelerating financial inclusion. Small vendors and micro enterprises can now accept payments digitally, and build financial history, thereby enabling access to formal credit at much lower costs.


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