New Delhi, Aug. 24 -- The Unified Payments Interface (UPI), launched on 25 August 2016, has completed 10 years. NPCI developed the platform under the Reserve Bank of India's regulatory oversight. UPI has since become the backbone of India's digital payments ecosystem. It also stands as a critical driver of financial inclusion nationwide.

Over the decade, UPI has demonstrated extraordinary scale and consistent momentum. Annual transaction volume expanded from just 1.78 crore in FY17. It reached over 24,162 crore transactions by FY26, an almost 13,000-fold surge.

Transaction value similarly rose sharply during this same period. It grew from Rs.7,000 crore to around Rs.314 lakh crore, representing significant growth.

Growth wasn't limited...