UPI volumes up 1.2%, rise to 76 crore

MUMBAI: Average daily UPI volumes rose to 75.7 crore in June from 74.8 crore in May, up 1.2% month-on-month, while average daily value held steady at Rs 96,405 crore against Rs 96,465 crore, down 0.1%. According to National Payments Corporation of India, this stability in daily run rates came even as headline monthly numbers softened after a strong May.Monthly UPI volumes fell to 2,270 crore in June from 2,320 crore, a 2.1% decline, while value dropped to Rs 28.9 lakh crore from Rs 29.9 lakh crore, down 3.3%. Year-on-year, volumes grew 23% and value rose 20%, indicating continued expansion despite the sequential moderation. FASTag transactions also declined on a monthly basis. Volumes fell to 36.2 crore from 37.5 crore, a 3.5% drop, while value eased to Rs 7,215 crore from Rs 7,308 crore, down 1.3%. On a yearly basis, volumes contracted 6% but value increased 6%.IMPS recorded a similar month-on-month decline in aggregates. Volumes fell to 35.4 crore from 35.8 crore, down 1.1%, and value declined to Rs 6.8 lakh crore from Rs 7 lakh crore, a 2.7% drop. Year-on-year, volumes fell 21% while value increased 12%.