India, Sept. 1 -- India's UPI transactions surged to 24.51 billion in August, registering a 22% year-on-year increase, according to data released by the National Payments Corporation of India. The value of transactions conducted through the Unified Payments Interface also rose 20% to Rs 29.82 lakh crore, underlining the continued growth of India's rapidly expanding digital payments ecosystem.

On a daily basis, UPI processed around 791 million transactions in August, with the average daily transaction value standing at approximately Rs 96,205 crore. The figures reflect sustained adoption of UPI across consumers, merchants and businesses, as the real-time payment platform continues to play an increasingly important role in India's cashles...