India, April 1 -- After a slight decline in growth in the month of February, UPI adoption in India regained momentum in the month of March. UPI transactions surged 11% MoM in March to 22.64 Bn from 20.39 Bn in February, as per NPCI data.

The value of UPI transactions stood at Rs.29.53 Lakh Cr during the month, marking a 10% increase from Rs.26.84 Lakh Cr in February.

On a daily basis, transaction volumes remained broadly stable at 730 Mn in March compared to 728 Mn in the previous month. Meanwhile, the average daily transaction value saw a marginal dip to Rs.95,243 Cr from Rs.95,865 Cr in February.

Despite the February slowdown, market leaders continued to hold their ground last month. PhonePe retained the top spot with 928.3 Cr transa...