UPI and Digital Payment Transactions Cross 18,000 Crore in 2024-25:

UPI and Digital Payment Transactions Cross 18,000 Crore in 2024-25 India's digital payment ecosystem continues to grow, with over 18,120.82 crore transactions registered in the financial year 2024-25 (to January 2025). According to a press release released on the Press Information Bureau (PIB) website on March 11, 2025. The press release mentioned that digital payment transactions, including transactions through the Unified Payment Interface (UPI) have increased consistently during the last five financial years. The data that was released by the Ministry of Finance, compares figures over the past five years. An impressive 4x growth of digital transactions can be seen via the table given below: The government, Reserve Bank of India (RBI), and National Payments Corporation of India (NPCI) have taken several steps to prevent payment-related frauds, including UPI transaction frauds, on a regular basis. These include device binding between the customer's mobile number and the device, two-factor authentication via PIN, a daily transaction limit, limits and constraints on use cases, etc. NPCI also supplies all banks with a fraud monitoring tool that uses AI/ML-based algorithms to create alerts and refuse transactions. RBI and banks have also launched awareness campaigns on 'cyber-crime' prevention using brief SMS, radio campaigns, and other means. The government, Reserve Bank of India (RBI), and National Payments Corporation of India (NPCI) have taken several steps to prevent payment-related frauds, including UPI transaction frauds, on a regular basis. These include device binding between the customer's mobile number and the device, two-factor authentication via PIN, a daily transaction limit, limits and constraints on use cases, etc. NPCI also supplies all banks with a fraud monitoring tool that uses AI/ML-based algorithms to create alerts and refuse transactions. RBI and banks have also launched awareness campaigns on 'cyber-crime' prevention using brief SMS, radio campaigns, and other means. Furthermore, to make it easier for citizens to report any cyber occurrences, including financial frauds, the Ministry of Home Affairs (MHA) has developed a National Cybercrime Reporting Portal (www.cybercrime.gov.in) and a National Cybercrime Helpline Number "1930". Furthermore, the Department of Telecommunications (DoT) has created the Digital Intelligence Platform (DIP) and the 'Chakshu' service, which allows citizens to report suspected fraudulent communications received via phone, SMS, or WhatsApp. The Minister of State in the Ministry of Finance Shri Pankaj Chaudhary stated this in a written reply in Rajya Sabha today.