India Aims for 1 Billion UPI Transactions Daily: FM Sitharaman’s Bold Vision

The Union Finance Minister Sitharaman

Union Finance Minister Nirmala Sitharaman has set an ambitious target for India’s digital payments revolution—1 billion UPI transactions per day within the next 2-3 years. Chairing a high-level meeting today, she called for faster global adoption of UPI by developing interoperable systems and strengthening partnerships with other countries.

This meeting was attended by top officials from the officials of the Finance Ministry, RBI, and NPCI and they focused on scaling up UPI’s reach. Sitharaman urged stakeholders to:

✔ Onboard more users and merchants—especially in underserved regions.

✔ Fix infrastructure gaps to ensure seamless transactions.

✔ Boost cybersecurity to safeguard against digital fraud.

✔ Enhance user experience to retain India’s digital payment leadership.

Why Does It Matter?

In the last few years, UPI’s growth has been explosive:

? 72% CAGR since FY20—with 261 lakh crore rupees processed last year alone (30% YoY growth).

? 26 crore new users and 5.5 crore merchants added between FY22-FY25.

? 45 crore Indians now actively use UPI.

The Union minister also directed the NPCI to fortify UPI’s systems; it can ensure minimal disruptions as transaction volumes surge. With India leading the world in real-time digital payments, the focus now shifts to making UPI a global benchmark.