Total volume of UPI transactions from SBI India 2020-2023

Published by Statista Research Department, Nov 20, 2023
In June 2023, the State Bank of India acted as the remitter bank for over 2,415 million UPI-transactions in India. Thereby, the bank heads the list of remitter banks in India. Over the last year, this figure saw a steady increase.

Unified Payments Interface (UPI) is a product of the National Payments Corporation of India (NPCI) and was launched in 2016. It allows users of payment service providers like PhonePe or GooglePay to use NPCI as switch to connect with banks and transfer money. It is more user-friendly than older transaction modes such as IMPS.

Total volume of UPI-transactions from State Bank of India (SBI) from January 2020 to June 2023 (in millions)

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Release date

August 2023

Region

India

Survey time period

January 2020 to June 2023

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