Festive spending drives record UPI transactions in October

Festive spending pushed UPI transactions to a record 25.47 billion in October, up 23% year-on-year, while transaction value rose 16% to a record ₹31.53 lakh crore, according to NPCI data. Average daily transaction value crossed ₹1 lakh crore for the first time, driven by festive shopping, dining and online sales.