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According to data released by the National Payments Corporation of India, IMPS transactions for April were down at 49.6 crore last month from 49.7 crore in March 2023. The value of transactions also dipped to Rs 5.21 lakh crore from Rs 5.46 lakh crore. Year on year, transactions were up 5% in number and and 17% in value.
UPI transactions during April 2023 saw a 59% increase from April 2022. The value of these transactions was 49% higher than a year ago. Sequentially, the number of UPI transactions was 2.3% higher than 870 crore in March 2023, the busiest month for transactions and 18% higher than in February. In value terms, March 2023 was only marginally lower at Rs 14.05 lakh crore.
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