CURRENT AFFAIRS

2023

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Which category of transaction has crossed 2 billion mark in the month of October?

A	IMPS
B	UPI
C	BHIM
D	NEFT

Explanation:

Detailed explanation-1: -We just hit a big milestone in our journey. In Oct’21 the PhonePe app processed over 2 Billion transactions across UPI, credit and debut cards and wallets.

Detailed explanation-2: -UPI Transactions: UPI sees highest-ever 782 cr transactions worth a record Rs 12.82 lakh crore in December 2022 | India Business News-Times of India.

Detailed explanation-3: -Interestingly, the total UPI transaction value accounted for nearly 86% of India’s GDP in FY22. Further, India saw a total UPI transaction count of 7, 404.45 Cr in 2022, up 1.91X YoY. The number translates to nearly 2, 348 UPI transactions per second.

Detailed explanation-4: -In the calendar year 2022, UPI processed over 74 billion transactions, worth Rs 125.94 trillion, NPCI data showed. In 2021, the platform processed over 38 billion transactions worth Rs 71.54 trillion. So, in a year, the volume of transactions on the platform jumped over 90 per cent and value jumped by 76 per cent.

There is 1 question to complete.