2019
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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2 billion
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1 billion
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6 billion
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3 billion
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Detailed explanation-1: -In terms of both volume and value, UPI has witnessed a consistent upward trajectory since its inception in 2016. UPI crossed 1 billion transactions in October 2019, more than 2 billion transactions in October 2020, and also successfully crossed the threshold of 3 billion within the next one month.
Detailed explanation-2: -According to the latest data released by National Payments Corporation of India (NPCI), in October, UPI processed 7.3 billion transactions, worth Rs 12.11 trillion, a record high in terms of value of transactions.
Detailed explanation-3: -According to NPCI data, approximately 74 billion transactions worth Rs 125.94 trillion were conducted using UPI in calendar year 2022. The platform handled more than 38 billion transactions totalling Rs 71.54 trillion in 2021.
Detailed explanation-4: -The daily limit for UPI transfers is set at 20 transactions. After exceeding the limit, one must wait 24 hours before the limit can be renewed.
Detailed explanation-5: -At the top, the UPI clocked over 19.65 billion transactions in volume and Rs 32.5 lakh crore in terms of value.