New Delhi, Aug. 24 -- From a transaction value of Rs 7000 crore in the Financial Year 2016-17, when it was launched, to a whopping Rs 314 lakh crore in FY26, the Unified Payments Interface (UPI) of India has come a long way and completed a decade of operations.

The digital mode of payment has now become a staple for almost every Indian citizen, with transaction volumes surging nearly 13,000-fold since its launch, while the platform has expanded into 11 countries and emerged as the world's largest real-time payment system by transaction volume, the Ministry of Finance said on Monday.

UP has completed a decade of operations. Launched on August 25, 2016, by the National Payments Corporation of India (NPCI) under the regulatory oversight of...