Summary
It grew from a few million payments to over 24,000 crore payments by 2026.
Hundreds of banks are linked, and the service works in many countries.
New features like quick‑pay and automatic bills make it easier for everyone.
Key Points
5 points1
Launched in 2016 as a common platform for digital payments.
2
Annual transaction value rose from 0.07 lakh crore to about 314 lakh crore.
3
Network expanded from 21 to over 741 member banks.
4
Features such as UPI Lite, AutoPay and credit lines broaden access.
5
Available in 11 foreign nations for cross‑border payments.
New Words to Learn
5 wordsUnified Payments Interface
A nationwide system that lets people send money instantly using their phones.
crore
Ten million; used to talk about very big numbers.
lakh
One hundred thousand; another way to count large amounts.
interoperability
When different banks and apps can work together smoothly.
financial inclusion
Making sure everyone, even those with little money, can use banking services.
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