UPI transaction volume and value fall in September
In short
NPCI data showed UPI processed 24.07 billion transactions in September, down 1.8% from August. The value of transactions also fell 1.5% to ₹29.4 lakh crore.
This matters because it shows a monthly slowdown in UPI activity. The reporting does not say exactly how much of the drop was due to the MDR announcement or any other reason.
What the reporting says
NPCI data showed UPI processed 24.07 billion transactions in September, down 1.8% from August, while transaction value fell 1.5% to ₹29.4 lakh crore. The source says the figures came from the National Payments Corporation of India, which operates UPI, but it does not explain the cause of the decline. The immediate consequence is a monthly drop in both usage and value after the MDR announcement.
Why it matters
According to NPCI data, UPI processed 24.07 billion transactions in September, a 1.8% drop from August, and the value of those transactions fell 1.5% to ₹29.4 lakh crore. The source links the decline to an MDR announcement, but it does not quantify the effect or provide further explanation. The immediate impact is a softer month for digital payments activity and transaction value.