- Finance Minister Nirmala Sitharaman says UPI has become the world’s largest real-time payment system.
- Sitharaman says annual UPI transaction volume has grown around 13,000 times since FY 2016-17.
- India is expanding digital payment infrastructure alongside investments in data centres, cybersecurity and artificial intelligence.
The UPI real-time payment system has become the world’s largest of its kind, according to Union Finance Minister Nirmala Sitharaman. Speaking on 25 October 2026 at the inauguration of the Reserve Bank of India’s Greenfield Data Centre and Training Institute in Khordha, Odisha, she highlighted the growth of digital payments in India.
Sitharaman said UPI’s annual transaction volume has grown around 13,000 times since the financial year 2016-17. She also noted that the system now handles more than 2,400 crore transactions in a single month, equivalent to nearly 80 crore transactions a day. These figures were stated by the Finance Minister in her remarks.
UPI Real-Time Payment System Volume Grows Around 13,000 Times
UPI has become a major part of India’s everyday digital payment activity. According to Sitharaman, its annual transaction volume has increased around 13,000 times since FY 2016-17, reflecting the expansion of digital payments over the period.
Also Read
The Finance Minister said UPI now processes over 2,400 crore transactions in a month. That works out to nearly 80 crore transactions every day, showing the scale of use that India’s real-time payment system has reached.
UPI Expands Access to Credit, Insurance and Investments
Sitharaman also pointed to the wider fintech ecosystem developing around UPI. She said the UPI real-time payment system is helping bring credit, insurance and investment access to millions of people using these services for the first time.
Digital payments are therefore supporting more than money transfers. The services built around them can help people access a wider range of financial products, although access and eligibility depend on the relevant provider and product.
Recent changes such as India’s new UPI MDR rules for recharge payments show how quickly the country’s payments space is moving.
Data Centres Called the Vault of the Digital Age
During her remarks, Sitharaman described data centres as the “vault of the digital age”. Data centres support the storage and processing of digital information, making them an important part of the infrastructure behind online services and financial systems.
The government granted infrastructure status to data centres in 2022. Sitharaman also referred to a measure announced in the Union Budget 2026-27: a tax holiday for foreign companies providing global cloud services from data centres located in India.
The measure is intended to support India’s role in providing data centre and cloud infrastructure. The Finance Minister’s remarks placed these investments alongside the country’s growing use of digital financial services.
New RBI Campus to House RTGS and NEFT Systems
The event marked the inauguration of the RBI’s Greenfield Data Centre and Training Institute in Khordha, Odisha, by Prime Minister Narendra Modi. The campus will house the Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) systems, which are important parts of India’s payment infrastructure.
The campus will also include a training institute with a research wing focused on cybersecurity, artificial intelligence (AI) and data centres. These areas are relevant to the operation and protection of digital infrastructure as financial services increasingly depend on technology.
Digital Payments and Infrastructure Develop Together
The growth of UPI and investment in data centres point to two connected parts of India’s digital economy: the services people use and the infrastructure that supports them.
The UPI real-time payment system’s growing transaction volumes increase the importance of reliable digital payment infrastructure. The new RBI campus, including its research and training facilities, brings payment systems, technology and specialist training together at one location.
Conclusion
Finance Minister Nirmala Sitharaman said the UPI real-time payment system has become the world’s largest of its kind, with annual transaction volume growing around 13,000 times since FY 2016-17 and monthly transactions exceeding 2,400 crore. Her remarks also highlighted fintech access and India’s investment in data centres. The new RBI campus will house RTGS and NEFT systems alongside training and research facilities.
Frequently Asked Questions
What did Nirmala Sitharaman say about UPI?
Finance Minister Nirmala Sitharaman said UPI has become the world’s largest real-time payment system. She also said its annual transaction volume has grown around 13,000 times since FY 2016-17.
How many transactions does UPI handle each month?
According to Sitharaman’s remarks, UPI handles more than 2,400 crore transactions in a single month, equivalent to nearly 80 crore transactions a day.
What will the new RBI campus in Khordha house?
The RBI’s new Greenfield Data Centre and Training Institute campus in Khordha, Odisha, will house RTGS and NEFT systems. It will also include a training institute with a research wing for cybersecurity, AI and data centres.
What data centre measures did Sitharaman highlight?
Sitharaman noted that the government granted data centres infrastructure status in 2022. She also referred to a tax holiday announced in Budget 2026-27 for foreign companies providing global cloud services from data centres in India.
Discover more from MobileTelco
Subscribe to get the latest posts sent to your email.
