Unified Payments Interface (UPI) Ecosystem Statistics

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UPI Top 50 Banks Performance (Oct'23)

UPI Remitter Banks - Top 50 Banks (Oct'23)
Sr. No.	UPI Remitter Banks (Sep-2023)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank Of India	2930.95	92.62%	4.45%	2.93%	29.12	89%
2	HDFC BANK LTD	1005.24	96.26%	3.55%	0.20%	3.23	96%
3	Bank of Baroda	746.16	93.72%	5.11%	1.17%	4.89	86%
4	Union Bank of India	717.97	94.43%	4.16%	1.41%	4.54	58%
5	Punjab National Bank	576.75	94.44%	4.82%	0.74%	2.63	95%
6	ICICI Bank	542.07	95.69%	3.65%	0.66%	2.06	85%
7	Axis Bank Ltd	533.42	96.43%	3.55%	0.01%	1.28	99%
8	Kotak Mahindra Bank	553.74	94.24%	4.94%	0.81%	2.15	73%
9	Canara Bank	530.06	94.48%	5.09%	0.43%	2.34	85%
10	Paytm Payments Bank	441.45	96.35%	3.65%	0.00%	0.69	99%
11	Bank of India	373.98	95.79%	3.91%	0.29%	1.45	80%
12	Indian Bank	321.72	94.93%	4.91%	0.16%	1.11	91%
13	Airtel Payments Bank	285.50	91.12%	8.63%	0.25%	0.97	0%
14	India Post Payment Bank	218.45	86.20%	12.46%	1.34%	0.81	81%
15	Federal Bank	175.29	95.30%	4.55%	0.15%	0.43	99%
16	Central Bank Of India	172.01	88.14%	9.57%	2.29%	2.23	83%
17	Indian Overseas Bank	151.31	94.84%	4.48%	0.67%	0.69	89%
18	UCO Bank	143.86	94.08%	5.17%	0.75%	0.92	54%
19	IDBI Bank Limited	136.12	94.64%	3.77%	1.59%	0.94	87%
20	Bank of Maharashtra	126.73	94.62%	4.90%	0.48%	0.42	86%
21	INDUSIND BANK	116.32	92.20%	5.73%	2.06%	0.47	85%
22	Fino Payments Bank Limited FIP	105.67	85.45%	11.77%	2.78%	0.41	80%
23	Yes Bank Ltd	94.16	95.49%	4.39%	0.12%	0.20	89%
24	Karnataka Bank	90.33	93.61%	5.57%	0.82%	0.27	79%
25	Karur Vysya Bank	56.39	93.67%	5.71%	0.62%	0.26	93%
26	Bandhan Bank	39.99	89.22%	9.71%	1.07%	0.54	36%
27	South Indian Bank	45.73	96.08%	3.84%	0.08%	0.11	80%
28	IDFC FIRST Bank	71.76	94.27%	5.54%	0.19%	0.29	68%
29	Jammu and Kashmir Bank	41.53	91.11%	6.00%	2.89%	0.30	5%
30	City Union Bank	33.89	93.79%	5.98%	0.22%	0.10	99%
31	Ujjivan Small Finance Bank	34.85	92.15%	5.57%	2.28%	0.18	64%
32	AU small Finance Bank	33.85	95.45%	4.24%	0.31%	0.16	98%
33	Tamilnad Mercantile Bank	29.57	93.69%	5.18%	1.12%	0.12	62%
34	Equitas Small Finance Bank	27.66	92.15%	7.82%	0.03%	0.09	98%
35	Standard Chartered	30.00	97.09%	2.50%	0.41%	0.07	79%
36	Punjab and Sind Bank	27.65	91.68%	6.34%	1.99%	0.34	37%
37	DBS Bank India Limited	24.94	95.54%	3.91%	0.55%	0.06	84%
38	Andhra Pradesh Grameena Vikas Bank	23.22	88.00%	11.27%	0.74%	0.09	76%
39	Pragathi Krishna Gramin Bank	21.54	91.33%	6.68%	1.99%	0.17	59%
40	Citibank	19.79	95.28%	3.00%	1.72%	0.06	96%
41	Maharashtra Gramin Bank	20.84	86.25%	11.68%	2.07%	0.09	64%
42	Kerala Gramin Bank	22.94	89.93%	7.97%	2.10%	0.18	57%
43	Saraswat Bank	20.94	96.38%	3.40%	0.22%	0.06	92%
44	Tri O Tech Solutions Private Limited	27.54	100.00%	0.00%	0.00%	0.00	NA
45	Rajasthan Marudhara Gramin Bank	17.72	87.47%	11.85%	0.68%	0.07	82%
46	ESAF Small Finance Bank Ltd.	18.06	94.04%	5.47%	0.49%	0.05	98%
47	Baroda UP Gramin Bank	17.16	80.46%	10.92%	8.62%	0.47	22%
48	Sarva Haryana Gramin Bank	14.65	90.62%	6.76%	2.62%	0.16	35%
49	RBL Bank	14.89	87.52%	7.32%	5.15%	0.16	61%
50	Andhra Pragathi Grameena Bank	12.89	86.03%	12.97%	1.00%	0.05	77%

UPI Top 50 Banks Performance (Oct'23)

UPI Beneficiary Banks - Top 50 Banks (Oct'23)
Sr.No.	UPI Beneficiary Banks (Sep-2023)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Paytm Payments Bank	2709.07	99.87%	0.11%	0.02%	0.00%
2	Yes Bank Ltd	2224.58	99.94%	0.02%	0.03%	0.00%
3	State Bank Of India	1183.73	97.26%	0.28%	2.46%	0.41%
4	Axis Bank Ltd.	798.18	99.73%	0.22%	0.05%	0.03%
5	ICICI Bank	651.16	99.28%	0.49%	0.23%	0.08%
6	HDFC BANK LTD	535.56	99.39%	0.50%	0.11%	0.06%
7	Bank of Baroda	326.93	98.09%	0.84%	1.07%	0.16%
8	Union Bank of India	314.34	98.97%	0.24%	0.80%	0.22%
9	Federal Bank	271.01	99.65%	0.30%	0.04%	0.00%
10	Punjab National Bank	256.32	99.04%	0.45%	0.52%	0.22%
11	Canara Bank	252.42	99.24%	0.51%	0.25%	0.15%
12	Kotak Mahindra Bank	237.72	98.74%	0.64%	0.62%	0.17%
13	Bank of India	175.96	99.44%	0.29%	0.27%	0.13%
14	Indian Bank	169.62	99.44%	0.46%	0.10%	0.03%
15	Airtel Payments Bank	158.70	99.23%	0.59%	0.18%	0.10%
16	INDUSIND BANK	129.76	98.36%	0.37%	1.28%	0.30%
17	India Post Payment Bank	96.97	98.51%	0.39%	1.10%	0.04%
18	Central Bank Of India	84.25	97.64%	0.64%	1.72%	0.53%
19	Indian Overseas Bank	72.39	99.28%	0.40%	0.32%	0.30%
20	UCO Bank	67.14	98.84%	0.80%	0.36%	0.17%
21	IDBI Bank Limited	60.68	98.77%	0.46%	0.77%	0.29%
22	Bank of Maharashtra	49.66	98.99%	0.57%	0.45%	0.10%
23	Fino Payments Bank Limited FIP	50.88	97.26%	0.69%	2.05%	0.06%
24	Karnataka Bank	39.45	98.47%	0.71%	0.82%	0.05%
25	IDFC FIRST Bank	52.06	98.85%	1.07%	0.08%	0.00%
26	Karur Vysya Bank	31.11	99.07%	0.61%	0.32%	0.08%
27	South Indian Bank	29.03	99.60%	0.33%	0.07%	0.02%
28	Bandhan Bank	25.96	85.26%	0.40%	14.34%	0.17%
29	AU small Finance Bank	22.86	97.95%	1.90%	0.15%	0.14%
30	Tamilnad Mercantile Bank	18.78	98.79%	0.34%	0.87%	0.13%
31	City Union Bank	18.00	98.69%	1.13%	0.19%	0.05%
32	RBL Bank	39.79	96.25%	1.44%	2.31%	0.27%
33	Ujjivan Small Finance Bank	18.20	98.24%	0.24%	1.51%	0.45%
34	Jammu and Kashmir Bank	18.65	98.03%	0.33%	1.63%	0.17%
35	Equitas Small Finance Bank	13.31	97.38%	2.52%	0.10%	0.01%
36	Punjab and Sind Bank	13.64	91.02%	0.21%	8.77%	0.58%
37	Kerala Gramin Bank	12.93	98.25%	0.24%	1.51%	0.55%
38	Pragathi Krishna Gramin Bank	11.58	98.38%	0.41%	1.22%	0.49%
39	CITIBANK	9.77	99.87%	0.00%	0.13%	0.14%
40	Andhra Pradesh Grameena Vikas Bank	11.32	98.92%	0.73%	0.35%	0.07%
41	DBS Bank India Limited	10.00	97.67%	1.69%	0.64%	0.04%
42	Maharashtra Gramin Bank	10.08	96.48%	0.47%	3.04%	0.24%
43	Tri O Tech Solutions Private Limited	13.24	94.13%	5.79%	0.08%	0.03%
44	Rajasthan Marudhara Gramin Bank	8.94	99.06%	0.50%	0.43%	0.08%
45	Baroda UP Gramin Bank	9.59	92.97%	0.80%	6.24%	2.18%
46	ESAF Small Finance Bank Ltd.	9.26	99.67%	0.14%	0.19%	0.23%
47	Andhra Pragathi Grameena Bank	7.09	97.79%	0.56%	1.65%	0.03%
48	Saraswat Bank	7.50	99.47%	0.34%	0.18%	0.10%
49	Sarva Haryana Gramin Bank	6.75	97.60%	0.41%	1.99%	0.51%
50	Baroda Rajasthan Kshetriya Gramin Bank	5.26	97.70%	1.07%	1.24%	0.26%

Glossary

Business Decline (BD) - Transaction decline due to a customer entering an invalid pin, incorrect beneficiary account etc. Or due to other business reasons such as exceeding per transaction limit, exceeding permitted count of transactions per day, exceeding amount limit for the day etc. Such declined transactions are termed as Business Decline. Any decline which is not because of a technical reason of the bank or NPCI is termed as business Decline.
Technical Decline (TD) - Transaction decline due to technical reasons, such as unavailability of systems and network issues on bank or NPCI side.
The Debit Reversal Success percentage indicates the % of total cases, where a customer account may be debited and their bank is unable to confirm instantly about the status of reversal of such a debit. When reversal/credit is not processed instantly, it is processed manually by the bank as per the extant RBI guidelines.
Deemed Approved (Pending Credit Confirmation for UPI remittance transactions) - Deemed Approved percentage indicates the total percentage of cases of the total transactions, where credit confirmations are not received online from the beneficiary banks for the credit. If the beneficiary account is not credited online, transaction would be manually processed by the beneficiary bank as per the extant RBI guidelines.
Remitter - The account holder who is sending the money
Beneficiary - The account holder who is receiving money
Remitter Bank - The bank of the account holder who is sending the money
Beneficiary Bank - The bank of the account holder who is receiving money

UPI Apps (Oct'23)

UPI Apps (Oct'23)
Sr.No.	Application Name	Customer Initiated Transactions		B2C Transactions		B2B Transactions		On-us Transactions		Total
Sr.No.	Application Name	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
1	Airtel Payments Bank Apps	11.32	778.26	0.00	0.00	0.00	0.00	0.31	32.39	11.62	810.65
2	Allahabad Bank Apps	0.03	7.30	0.00	0.00	0.00	0.00	-	-	0.03	7.30
3	Amazon Pay	54.39	6,297.17	0.00	0.00	0.00	0.00	-	-	54.39	6,297.17
4	AU Small Finance Bank Apps	0.71	235.99	0.00	0.00	0.00	0.00	-	-	0.71	235.99
5	Axis Bank Apps	12.10	2,202.41	62.24	2,721.47	0.08	7.63	-	-	74.42	4,931.50
6	Bajaj Finserv	14.19	2,373.17	0.00	0.00	0.00	0.00	-	-	14.19	2,373.17
7	Bajaj Finserv PPI	0.23	48.79	0.00	0.00	0.00	0.00	-	-	0.23	48.79
8	Bank of Baroda Apps	0.93	393.21	0.00	0.00	0.00	4.28	-	-	0.93	397.49
9	Bank of India Apps	0.27	93.46	0.00	0.00	0.00	0.00	-	-	0.27	93.46
10	Bank of Maharashtra Apps	0.06	10.85	0.00	0.00	0.00	0.00	-	-	0.06	10.85
11	BHIM	25.74	8,174.71	0.00	0.00	0.00	0.00	-	-	25.74	8,174.71
12	Canara Bank Apps	2.21	665.24	0.00	0.00	0.01	0.19	-	-	2.22	665.43
13	Central Bank of India Apps	0.52	114.69	0.00	0.00	0.00	0.24	-	-	0.52	114.94
14	Citi Bank Apps	0.08	66.07	0.00	0.00	0.00	0.00	-	-	0.08	66.07
15	City Union Bank Apps	0.07	21.55	0.00	0.00	0.00	0.00	-	-	0.07	21.55
16	Cred	94.52	34,691.49	0.00	0.00	0.00	0.00	-	-	94.52	34,691.49
17	DBS Digibank Apps	0.50	197.14	0.00	0.00	0.00	0.56	-	-	0.51	197.70
18	Deutsche Bank Apps	2.37	350.45	0.00	0.00	0.00	0.02	-	-	2.37	350.47
19	Dhani PPI	0.02	1.49	0.00	0.00	0.00	0.00	-	-	0.02	1.49
20	Digikhata PPI	0.04	15.33	0.00	0.00	0.00	0.00	-	-	0.04	15.33
21	Equitas Small Finance Bank Apps	0.03	21.65	0.00	0.00	0.00	0.00	-	-	0.03	21.65
22	Fampay PPI	27.54	314.13	0.00	0.00	0.00	0.00	-	-	27.54	314.13
23	Fave	0.11	10.38	0.00	0.00	0.00	0.00	-	-	0.11	10.38
24	Federal Bank Apps	5.89	720.68	0.00	0.00	0.00	0.00	-	-	5.89	720.68
25	Fino Payments bank Apps	0.27	20.01	0.00	0.00	0.00	0.00	-	-	0.27	20.01
26	GoKiwi	0.76	79.21	0.00	0.00	0.00	0.00	-	-	0.76	79.21
27	Google Pay	4,139.92	589,299.18	0.00	0.00	0.00	0.00	-	-	4,139.92	589,299.18
28	Groww	5.89	3,354.83	0.00	0.00	0.00	0.00	-	-	5.89	3,354.83
29	HDFC Bank Apps	21.35	5,453.76	0.00	0.00	0.00	0.00	-	-	21.35	5,453.76
30	HSBC Bank Apps	0.18	105.98	0.00	0.08	0.00	0.00	-	-	0.18	106.07
31	ICICI Bank Apps	27.54	11,273.30	4.82	437.19	6.52	9,607.29	-	-	38.88	21,317.78
32	IDBI Bank Apps	0.07	36.89	0.00	0.00	0.00	0.00	-	-	0.07	36.89
33	IDFC Bank Apps	5.26	1,312.45	0.00	0.00	0.00	0.01	-	-	5.26	1,312.46
34	India Post Payments Bank Apps	5.54	464.95	0.00	0.00	0.00	0.00	-	-	5.54	464.95
35	Indian Bank Apps	0.36	90.37	0.00	0.00	0.00	20.56	-	-	0.36	110.93
36	Indian Overseas Bank Apps	0.09	23.85	0.00	0.00	0.00	0.00	-	-	0.09	23.85
37	IndusInd Bank Apps	1.07	217.98	0.00	0.00	0.00	0.00	-	-	1.07	217.98
38	Jammu and Kashmir Bank Apps	0.01	3.39	0.00	0.00	0.00	0.00	-	-	0.01	3.39
39	Jio Payments Bank Apps	1.35	112.84	0.00	0.00	0.00	0.00	-	-	1.35	112.84
40	Jupiter	4.45	571.06	0.00	0.00	0.00	0.00	-	-	4.45	571.06
41	Karnataka Bank Apps	0.69	138.58	0.00	0.00	0.00	0.00	-	-	0.69	138.58
42	Karur Vysya Bank Apps	0.04	16.95	0.00	0.00	0.00	0.00	-	-	0.04	16.95
43	Kotak Mahindra Bank Apps	23.83	4,205.76	0.00	0.00	0.00	0.00	-	-	23.83	4,205.77
44	MakeMyTrip	0.04	21.47	0.00	0.00	0.00	0.00	-	-	0.04	21.47
45	Mobikwik	4.43	1,378.88	0.00	0.00	0.00	0.00	-	-	4.43	1,378.88
46	Mobikwik PPI	0.02	2.15	0.00	0.00	0.00	0.00	-	-	0.02	2.15
47	Navi	0.53	33.92	0.00	0.00	0.00	0.00	-	-	0.53	33.92
48	NSDL Payments Bank Apps	0.04	5.79	0.00	0.00	0.00	0.00	-	-	0.04	5.79
49	Omnicard PPI	1.20	45.90	0.00	0.00	0.00	0.00	-	-	1.20	45.90
50	Paytm Payments Bank App	1,417.81	167,819.30	3.36	6.88	0.74	1,244.89	122.51	23,903.73	1,544.41	192,974.80
51	PhonePe	5,337.96	838,371.70	0.00	0.00	0.00	0.00	-	-	5,337.96	838,371.70
52	Punjab National Bank Apps	0.99	211.45	0.00	0.00	0.00	0.00	-	-	0.99	211.45
53	Punjab Sind Bank Apps	0.03	12.94	0.00	0.00	0.00	0.00	-	-	0.03	12.94
54	RBL Bank Apps	1.87	642.63	0.00	0.02	0.27	16.09	-	-	2.14	658.74
55	Samsung Pay	6.17	562.28	0.00	0.00	0.00	0.00	-	-	6.17	562.28
56	Shriram One	0.15	9.43	0.00	0.00	0.00	0.00	-	-	0.15	9.43
57	slice	1.33	340.40	0.00	0.00	0.00	0.00	-	-	1.33	340.40
58	slice PPI	0.33	18.41	0.00	0.00	0.00	0.00	-	-	0.33	18.41
59	South Indian Bank Apps	0.22	69.36	0.00	0.00	0.00	0.00	-	-	0.22	69.36
60	Standard Chartered Bank Apps	4.41	240.59	0.00	0.00	2.61	1,462.00	-	-	7.02	1,702.59
61	State Bank of India Apps	5.51	2,185.45	0.00	0.00	0.02	0.60	-	-	5.53	2,186.05
62	Tamilnad Mercantile Bank Apps	0.10	29.14	0.00	0.00	0.00	0.00	-	-	0.10	29.14
63	TataNeu	0.09	14.51	0.00	0.00	0.00	0.00	-	-	0.09	14.51
64	UCO Bank Apps	0.28	85.33	0.00	0.00	0.00	0.00	-	-	0.28	85.33
65	Ultracash	0.09	5.60	0.00	0.00	0.00	0.00	-	-	0.09	5.60
66	Union Bank Apps	0.89	360.41	0.00	0.00	0.00	0.00	-	-	0.89	360.42
67	Utkarsh Small Finance Bank Apps	0.02	7.44	0.00	0.00	0.00	0.00	-	-	0.02	7.44
68	WhatsApp	22.72	1,903.10	0.00	0.00	0.00	0.00	-	-	22.72	1,903.10
69	Yes Bank Apps	27.97	11,183.85	0.00	0.00	0.30	75.25	-	-	28.27	11,259.10
70	Others	0.06	14.29	0.00	0.00	0.00	0.00	0.00	0.00	0.06	14.29

Note:-

App volume in table is basis the Payer App logic, i.e the financial transaction is attributed to the PSP in UPI on the Payer’s side.
All B2C (Business to Customer) & B2B (Business to Business) transactions is attributed to respective PSP .
From January 2021 onwards, ‘On-us Transactions’ in UPI that are not processed and settled through the UPI Central System is shown under ‘On-us Transactions’ column.
Apps which has volume less than 10,000 is included under ‘Other Apps’.
BHIM Volume is inclusive of *99# volume.
WhatsApp*: Maximum registered user base of hundred (100) million in UPI

UPI P2P and P2M Transactions

UPI P2P and P2M Transactions
Month	Total		P2P		P2M
Month	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
Oct'23	11,408.79	17,15,768.34	4,689.42	12,73,587.62	6,719.37	4,42,180.74

Glossary

P2P - P2P transactions are payments done by person to a person i.e. Peer to Peer Payments.
P2M - P2M transactions are payments done by person to a merchant i.e. Peer to Merchant Payments

UPI Payer PSP Performance

UPI Payer PSP Performance (Oct'23)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd	3691.75	98.95%	1.04%	0.00%
2	Axis Bank Ltd	2269.64	98.96%	1.03%	0.00%
3	ICICI Bank	2151.88	99.02%	0.98%	0.00%
4	Paytm Payments Bank	1439.34	98.79%	1.21%	0.00%
5	HDFC Bank Ltd	1029.19	99.05%	0.95%	0.00%
6	State Bank Of India	815.90	98.45%	1.55%	0.00%
7	Fampay (PPI)	27.98	98.46%	1.54%	0.00%
8	BHIM	27.00	95.32%	4.67%	0.01%
9	Kotak Mahindra Bank	24.19	98.52%	1.47%	0.00%
10	Airtel Payments Bank	11.53	98.13%	1.81%	0.05%
11	Standard Chartered	7.03	99.87%	0.13%	0.00%
12	Federal Bank	6.00	98.13%	1.87%	0.00%
13	India Post Payment Bank	5.62	98.67%	1.31%	0.02%
14	IDFC FIRST Bank	5.55	98.14%	1.86%	0.01%
15	RBL Bank	3.70	98.53%	1.46%	0.01%

UPI Payee PSP Performance (Oct'23)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd	3874.42	99.74%	0.25%	0.01%
2	Paytm Payments Bank	2868.53	99.60%	0.39%	0.01%
3	ICICI Bank	1324.05	99.36%	0.61%	0.04%
4	Axis Bank Ltd	1274.76	99.56%	0.40%	0.04%
5	HDFC Bank Ltd	644.52	99.37%	0.62%	0.01%
6	State Bank Of India	498.49	99.21%	0.69%	0.10%
7	Federal Bank	208.16	95.46%	4.54%	0.00%
8	IndusInd Bank	69.70	98.31%	0.88%	0.81%
9	Kotak Mahindra Bank	40.33	99.36%	0.51%	0.13%
10	IDFC FIRST Bank	26.91	99.26%	0.46%	0.28%
11	RBL Bank	22.18	96.42%	2.94%	0.64%
12	Indian Bank	21.13	99.45%	0.51%	0.04%
13	Canara Bank	19.83	96.88%	3.07%	0.05%
14	Airtel Payments Bank	19.09	99.49%	0.13%	0.38%
15	Cosmos Bank	16.44	98.00%	1.73%	0.27%

Glossary

Business Decline (BD) - Transaction decline due to a customer entering an invalid pin, incorrect beneficiary account etc. Or due to other business reasons such as exceeding per transaction limit, exceeding permitted count of transactions per day, exceeding amount limit for the day etc. Such declined transactions are termed as Business Decline. Any decline which is not because of a technical reason of the bank or NPCI is termed as business Decline.
Technical Decline (TD) - Transaction decline due to technical reasons, such as unavailability of systems and network issues on bank or NPCI side.
PSP - Payment Service Provider
Payer PSP - Under this function a bank can onboard a customer, create his/ her UPI ID, create device binding which is used as a first factor of Authentication, using this customer can enter their UPI PIN to approve a financial transaction or non-financial request where ever necessary.
Payee PSP - Under this function a bank can onboard a customer/merchant & allow them to receive money basis allocated UPI ID or raise a Collect request. It is also known as beneficiary PSP/resolving PSP.

UPI Merchant Category Classification - Oct 23

UPI Merchant Category-wise Classification - Oct'23
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5812	Eating places and restaurants
	4814	Telecommunication services, including local and long distance calls, credit card calls, calls through use of magnetic stripe reading telephones and faxes
	5814	Fast food restaurants
	5311	Department stores
	5541	Service stations (with or without ancillary services)
	5816	Digital Goods: Games
	5912	Drug stores and pharmacies
	5462	Bakeries
	4900	Utilities electric, gas, water and sanitary
Medium Transacting Categories	5813	Drinking places (alcoholic beverages) bars, taverns, night-clubs, cocktail lounges and discothques
	5451	Dairies
	7299	Miscellaneous personal services not elsewhere classified
	7322	Debt collection agencies
	6012	Financial institutions merchandise and services
	6540	Debit card to wallet credit (Wallet top up)
	5137	Mens, womens and childrens uniforms and commercial clothing
	5441	Candy, nut and confectionery shops
	5732	Electronics shops
	5422	Freezer and locker meat provisioners
All Other Categories	5993	Cigar shops and stands
	7230	Beauty and barber shops
	5399	Miscellaneous general merchandise
	5722	Household appliance shops
	6211	Securities brokers and dealers
	5262	Household appliance shops
	9399	Government services not elsewhere classified
	4121	Taxi-cabs and limousines
	4214	Motor freight carriers and trucking local and long distance, moving and storag
	Others

Glossary

Category classification is made in terms of Approved UPI transaction Volume.
High Transacting Categories: Top 10 MCCs
Medium Transacting Categories: Next 10 MCCs
All Other Categories: Next 9 MCCs along with all other MCCs clubbed under 'Others'
MCC Description is with reference to ISO 18245:2003 standard

UPI Top 50 Banks Performance (Sep'23)

UPI Remitter Banks - Top 50 Banks (Sep'23)
Sr. No.	UPI Remitter Banks (Sep-2023)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank of India	2730.35	95.55%	4.19%	0.26%	9.45	96%
2	HDFC BANK LTD	912.87	95.78%	3.66%	0.56%	3.55	81%
3	Bank of Baroda	681.10	94.47%	5.18%	0.35%	2.13	92%
4	Union Bank of India	657.95	94.38%	4.46%	1.16%	3.26	59%
5	Punjab National Bank	526.67	95.01%	4.75%	0.24%	1.83	95%
6	Kotak Mahindra Bank	501.84	94.49%	5.18%	0.33%	1.17	91%
7	ICICI Bank	484.28	96.33%	3.27%	0.40%	1.43	80%
8	Canara Bank	486.91	94.38%	5.24%	0.38%	1.74	81%
9	Axis Bank Ltd.	486.35	96.27%	3.58%	0.15%	1.10	90%
10	Paytm Payments Bank	426.45	96.30%	3.67%	0.03%	0.57	94%
11	Bank of India	340.89	95.80%	3.95%	0.25%	1.06	81%
12	Indian Bank	294.13	91.03%	4.47%	4.50%	3.30	65%
13	Airtel Payments Bank	258.59	91.11%	8.69%	0.20%	0.80	0%
14	India Post Payment Bank	203.54	82.83%	14.35%	2.82%	0.92	72%
15	Federal Bank	162.00	95.55%	4.41%	0.04%	0.34	97%
16	Central Bank of India	159.29	88.16%	8.99%	2.85%	2.10	68%
17	Indian Overseas Bank	138.04	93.73%	4.48%	1.79%	0.69	81%
18	UCO Bank	135.33	90.15%	5.19%	4.65%	2.02	46%
19	IDBI Bank Limited	123.74	95.55%	3.73%	0.71%	0.60	87%
20	Bank of Maharashtra	114.21	93.20%	4.99%	1.81%	0.60	59%
21	INDUSIND BANK	103.02	92.10%	6.11%	1.79%	0.53	64%
22	Fino Payments Bank Limited FIP	96.47	84.96%	13.10%	1.94%	0.39	68%
23	Yes Bank Ltd	86.02	95.48%	4.30%	0.22%	0.16	91%
24	Karnataka Bank	83.65	93.99%	5.47%	0.54%	0.17	91%
25	IDFC FIRST Bank	63.89	94.98%	4.84%	0.18%	0.21	72%
26	Karur Vysya Bank	52.38	93.73%	5.94%	0.33%	0.17	94%
27	Bandhan Bank	43.57	94.86%	4.72%	0.42%	0.21	70%
28	South Indian Bank	43.14	95.22%	4.17%	0.62%	0.17	84%
29	Jammu and Kashmir Bank	37.82	91.00%	5.72%	3.28%	0.42	2%
30	City Union Bank	31.47	93.35%	6.24%	0.41%	0.10	92%
31	Ujjivan Small Finance Bank	31.20	93.70%	5.70%	0.60%	0.10	77%
32	AU small Finance Bank	30.84	95.20%	4.54%	0.25%	0.11	91%
33	Tamilnad Mercantile Bank	27.64	93.01%	5.04%	1.95%	0.12	51%
34	Punjab and Sind Bank	27.65	91.97%	7.62%	0.41%	0.13	89%
35	Equitas Bank	25.82	91.63%	8.28%	0.09%	0.07	98%
36	Standard Chartered	23.69	95.03%	2.64%	2.33%	0.15	59%
37	DBS Bank India Limited	23.25	95.86%	4.02%	0.12%	0.05	81%
38	Tri O Tech Solutions Private Limited	22.88	100.00%	0.00%	0.00%	0.00	NA
39	Andhra Pradesh Grameena Vikas Bank	21.39	86.26%	11.63%	2.11%	0.13	42%
40	Kerala Gramin Bank	20.53	90.84%	8.06%	1.10%	0.10	61%
41	Pragathi Krishna Gramin Bank	19.97	90.54%	7.96%	1.50%	0.15	39%
42	Maharashtra Gramin Bank	19.60	83.93%	12.09%	3.98%	0.08	54%
43	Citibank	18.87	96.48%	3.09%	0.43%	0.06	97%
44	Saraswat Bank	18.79	96.71%	3.06%	0.23%	0.05	90%
45	Rajasthan Marudhara Gramin Bank	16.66	86.17%	11.82%	2.01%	0.08	56%
46	ESAF Small Finance Bank Ltd.	16.56	93.67%	5.28%	1.05%	0.06	68%
47	Baroda UP Gramin Bank	16.05	75.61%	11.53%	12.86%	0.53	22%
48	Fincare Small Finance Bank Ltd	13.91	85.87%	11.79%	2.34%	0.11	51%
49	RBL Bank	13.31	88.49%	6.83%	4.68%	0.17	50%
50	Sarva Haryana Gramin Bank	13.27	92.84%	6.80%	0.36%	0.04	95%

UPI Top 50 Banks Performance (Sep'23)

UPI Beneficiary Banks - Top 50 Banks (Sep'23)
Sr.No.	UPI Beneficiary Banks (Sep-2023)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Paytm Payments Bank	2482.89	99.87%	0.12%	0.01%	0.01%
2	Yes Bank Ltd	2018.40	99.98%	0.02%	0.00%	0.00%
3	State Bank Of India	1118.01	99.62%	0.18%	0.20%	0.04%
4	Axis Bank Ltd.	731.82	99.35%	0.35%	0.30%	0.12%
5	ICICI Bank	625.87	99.49%	0.40%	0.11%	0.03%
6	HDFC BANK LTD	508.57	99.04%	0.56%	0.40%	0.15%
7	Bank of Baroda	301.81	99.36%	0.34%	0.30%	0.07%
8	Union Bank of India	292.91	99.21%	0.18%	0.61%	0.13%
9	Federal Bank	248.34	99.75%	0.25%	0.00%	0.00%
10	Punjab National Bank	236.23	99.44%	0.42%	0.14%	0.06%
11	Canara Bank	234.42	99.35%	0.43%	0.22%	0.12%
12	Kotak Mahindra Bank	215.88	99.38%	0.45%	0.16%	0.13%
13	Bank of India	162.61	99.58%	0.23%	0.19%	0.08%
14	Indian Bank	159.64	95.86%	0.71%	3.43%	0.62%
15	Airtel Payments Bank	141.03	99.18%	0.63%	0.19%	0.12%
16	INDUSIND BANK	102.49	98.14%	0.26%	1.60%	0.88%
17	India Post Payment Bank	87.55	98.04%	0.42%	1.55%	0.16%
18	Central Bank Of India	78.85	97.57%	0.55%	1.88%	0.61%
19	Indian Overseas Bank	66.65	97.73%	0.42%	1.85%	0.39%
20	UCO Bank	63.35	95.99%	0.80%	3.20%	0.51%
21	IDFC FIRST Bank	57.22	99.11%	0.82%	0.07%	0.00%
22	IDBI Bank Limited	56.22	99.30%	0.45%	0.26%	0.13%
23	Fino Payments Bank Limited FIP	50.15	98.01%	0.64%	1.35%	0.07%
24	Bank of Maharashtra	45.61	98.10%	0.30%	1.60%	0.28%
25	Karnataka Bank	37.09	98.79%	0.60%	0.62%	0.01%
26	RBL bank	30.68	98.28%	0.30%	1.42%	0.37%
27	Karur Vysya Bank	29.51	99.30%	0.44%	0.26%	0.06%
28	South Indian Bank	27.40	99.35%	0.21%	0.44%	0.13%
29	Bandhan Bank	26.60	98.66%	0.09%	1.25%	0.16%
30	AU small Finance Bank	21.31	98.80%	1.08%	0.13%	0.08%
31	Tamilnad Mercantile Bank	17.86	97.78%	0.23%	1.98%	0.21%
32	Jammu and Kashmir Bank	17.29	97.87%	0.32%	1.80%	0.24%
33	City Union Bank	16.95	98.64%	1.01%	0.35%	0.06%
34	Ujjivan Small Finance Bank	16.46	99.24%	0.33%	0.42%	0.15%
35	Punjab and Sind Bank	12.67	99.39%	0.18%	0.42%	0.07%
36	Equitas Small Finance Bank	12.19	97.65%	2.02%	0.32%	0.02%
37	Kerala Gramin Bank	11.77	99.15%	0.23%	0.62%	0.33%
38	Tri O Tech Solutions Private Limited	11.15	94.21%	5.50%	0.29%	0.11%
39	Pragathi Krishna Gramin Bank	10.87	98.97%	0.41%	0.62%	0.48%
40	Andhra Pradesh Grameena Vikas Bank	10.36	97.88%	1.11%	1.01%	0.28%
41	CITIBank	9.77	99.83%	0.00%	0.17%	0.16%
42	Maharashtra Gramin Bank	9.40	96.10%	0.26%	3.64%	0.17%
43	DBS Bank India Limited	9.38	98.63%	1.27%	0.10%	0.08%
44	Baroda UP Gramin Bank	9.10	89.40%	0.83%	9.77%	2.84%
45	ESAF Small Finance Bank Ltd.	8.66	99.40%	0.03%	0.57%	0.42%
46	Rajasthan Marudhara Gramin Bank	8.47	97.95%	0.81%	1.24%	0.18%
47	Saraswat Bank	6.90	99.62%	0.22%	0.17%	0.10%
48	Andhra Pragathi Grameena Bank	6.67	96.00%	0.55%	3.45%	0.09%
49	Fincare Small Finance Bank Ltd	6.23	94.85%	3.45%	1.70%	0.42%
50	Sarva Haryana Gramin Bank	6.22	99.13%	0.42%	0.45%	0.01%

Glossary

Business Decline (BD) - Transaction decline due to a customer entering an invalid pin, incorrect beneficiary account etc. Or due to other business reasons such as exceeding per transaction limit, exceeding permitted count of transactions per day, exceeding amount limit for the day etc. Such declined transactions are termed as Business Decline. Any decline which is not because of a technical reason of the bank or NPCI is termed as business Decline.
Technical Decline (TD) - Transaction decline due to technical reasons, such as unavailability of systems and network issues on bank or NPCI side.
The Debit Reversal Success percentage indicates the % of total cases, where a customer account may be debited and their bank is unable to confirm instantly about the status of reversal of such a debit. When reversal/credit is not processed instantly, it is processed manually by the bank as per the extant RBI guidelines.
Deemed Approved (Pending Credit Confirmation for UPI remittance transactions) - Deemed Approved percentage indicates the total percentage of cases of the total transactions, where credit confirmations are not received online from the beneficiary banks for the credit. If the beneficiary account is not credited online, transaction would be manually processed by the beneficiary bank as per the extant RBI guidelines.
Remitter - The account holder who is sending the money
Beneficiary - The account holder who is receiving money
Remitter Bank - The bank of the account holder who is sending the money
Beneficiary Bank - The bank of the account holder who is receiving money

UPI Apps (Sep'23)

UPI Apps (Sep'23)
Sr.No.	Application Name	Customer Initiated Transactions		B2C Transactions		B2B Transactions		On-us Transactions		Total
Sr.No.	Application Name	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
1	PhonePe	4,972.81	774,845.98	0.00	0.00	0.00	0.00	0.00	0.00	4,972.81	774,845.98
2	Google Pay	3,780.89	541,624.06	0.00	0.00	0.00	0.00	0.00	0.00	3,780.89	541,624.06
3	Paytm Payments Bank App	1,333.38	153,708.60	3.47	8.06	0.58	935.71	114.56	22,213.09	1,451.99	176,865.46
4	Cred	86.50	31,558.20	0.00	0.00	0.00	0.00	0.00	0.00	86.50	31,558.20
5	Axis Bank Apps	8.93	1,721.75	59.77	1,856.50	0.06	6.66	0.00	0.00	68.76	3,584.91
6	Amazon Pay	48.78	5,386.29	0.00	0.00	0.00	0.00	0.00	0.00	48.78	5,386.29
7	ICICI Bank Apps	25.90	9,874.70	4.05	359.88	7.58	9,818.34	0.00	0.00	37.52	20,052.91
8	Yes Bank Apps	28.09	10,794.85	0.00	0.00	0.41	53.11	0.00	0.00	28.49	10,847.96
9	BHIM	24.15	8,005.18	0.00	0.00	0.00	0.00	0.00	0.00	24.15	8,005.18
10	FAM	22.88	263.37	0.00	0.00	0.00	0.00	0.00	0.00	22.88	263.37
11	Kotak Mahindra Bank Apps	21.57	3,737.25	0.00	0.00	0.00	0.01	0.00	0.00	21.57	3,737.26
12	WhatsApp	20.55	1,732.15	0.00	0.00	0.00	0.00	0.00	0.00	20.55	1,732.15
13	HDFC Bank Apps	18.87	4,739.38	0.00	0.00	0.00	0.00	0.00	0.00	18.87	4,739.39
14	Bajaj Finserv	14.14	2,069.98	0.00	0.00	0.00	0.00	0.00	0.00	14.14	2,069.98
15	Airtel Payments Bank Apps	10.45	747.05	0.00	0.00	0.00	0.04	0.00	0.12	10.46	747.21
16	Groww	6.50	3,596.95	0.00	0.00	0.00	0.00	0.00	0.00	6.50	3,596.95
17	Samsung Pay	5.81	528.20	0.00	0.00	0.00	0.00	0.00	0.00	5.81	528.20
18	Federal Bank Apps	5.54	692.03	0.00	0.00	0.00	0.00	0.00	0.00	5.54	692.03
19	State Bank of India Apps	5.40	2,130.26	0.00	0.00	0.02	0.64	0.00	0.00	5.42	2,130.89
20	India Post Payments Bank Apps	5.28	447.37	0.00	0.00	0.00	0.00	0.00	0.00	5.28	447.37
21	IDFC Bank Apps	4.42	1,109.67	0.00	0.00	0.00	0.00	0.00	0.00	4.42	1,109.67
22	Jupiter	4.05	529.64	0.00	0.00	0.00	0.00	0.00	0.00	4.05	529.64
23	Mobikwik	3.92	1,182.65	0.00	0.00	0.00	0.00	0.00	0.00	3.92	1,182.65
24	Standard Chartered Bank Apps	1.72	148.27	0.00	0.00	0.31	182.94	0.00	0.00	2.03	331.21
25	Deutsche Bank Apps	1.93	315.27	0.00	0.00	0.00	0.02	0.00	0.00	1.93	315.29
26	Canara Bank Apps	1.89	569.48	0.00	0.00	0.00	0.00	0.00	0.00	1.89	569.48
27	RBL Bank Apps	1.34	565.87	0.00	0.00	0.26	9.74	0.00	0.00	1.60	575.61
28	Jio Payments Bank Apps	1.44	108.84	0.00	0.00	0.00	0.00	0.00	0.00	1.44	108.84
29	Bank of Baroda Apps	1.22	470.91	0.00	0.00	0.00	5.52	0.00	0.00	1.22	476.43
30	slice	1.06	310.90	0.00	0.00	0.00	0.00	0.00	0.00	1.06	310.90
31	Punjab National Bank Apps	1.00	197.93	0.00	0.00	0.00	0.00	0.00	0.00	1.00	197.93
32	OMNI	0.98	36.12	0.00	0.00	0.00	0.00	0.00	0.00	0.98	36.12
33	IndusInd Bank Apps	0.89	182.26	0.00	0.00	0.00	0.00	0.00	0.00	0.89	182.26
34	Union Bank Apps	0.87	324.39	0.00	0.00	0.00	0.00	0.00	0.00	0.87	324.39
35	AU Small Finance Bank Apps	0.66	214.25	0.00	0.00	0.00	0.00	0.00	0.00	0.66	214.25
36	GOAXB	0.64	74.94	0.00	0.00	0.00	0.00	0.00	0.00	0.64	74.94
37	Karnataka Bank Apps	0.62	125.70	0.00	0.00	0.00	0.00	0.00	0.00	0.62	125.70
38	DBS Digibank Apps	0.45	178.89	0.00	0.00	0.00	0.53	0.00	0.00	0.45	179.42
39	Central Bank of India Apps	0.40	94.84	0.00	0.00	0.00	0.38	0.00	0.00	0.40	95.22
40	UCO Bank Apps	0.37	127.06	0.00	0.00	0.00	0.00	0.00	0.00	0.37	127.06
41	Indian Bank Apps	0.32	89.16	0.00	0.00	0.01	60.16	0.00	0.00	0.33	149.32
42	Bank of India Apps	0.28	86.17	0.00	0.00	0.00	0.00	0.00	0.00	0.28	86.17
43	NAVIAXIS	0.27	17.75	0.00	0.00	0.00	0.00	0.00	0.00	0.27	17.75
44	South Indian Bank Apps	0.26	72.90	0.00	0.00	0.00	0.00	0.00	0.00	0.26	72.90
45	Fino Payments bank Apps	0.22	15.99	0.00	0.00	0.00	0.00	0.00	0.00	0.22	15.99
46	BPAYWALLET	0.19	42.31	0.00	0.00	0.00	0.00	0.00	0.00	0.19	42.31
47	HSBC Bank Apps	0.16	101.08	0.00	0.12	0.00	0.00	0.00	0.00	0.16	101.20
48	Tamilnad Mercantile Bank Apps	0.10	26.99	0.00	0.00	0.00	0.00	0.00	0.00	0.10	26.99
49	TataNeu	0.09	14.82	0.00	0.00	0.00	0.00	0.00	0.00	0.09	14.82
50	Fave	0.09	6.34	0.00	0.00	0.00	0.00	0.00	0.00	0.09	6.34
51	Ultracash	0.08	4.77	0.00	0.00	0.00	0.00	0.00	0.00	0.08	4.77
52	Citi Bank Apps	0.08	61.34	0.00	0.00	0.00	0.00	0.00	0.00	0.08	61.34
53	INDIE	0.07	16.09	0.00	0.00	0.00	0.00	0.00	0.00	0.07	16.09
54	Indian Overseas Bank Apps	0.07	19.12	0.00	0.00	0.00	0.00	0.00	0.00	0.07	19.12
55	City Union Bank Apps	0.07	20.60	0.00	0.00	0.00	0.00	0.00	0.00	0.07	20.60
56	IDBI Bank Apps	0.06	32.31	0.00	0.00	0.00	0.00	0.00	0.00	0.06	32.31
57	Bank of Maharashtra Apps	0.05	8.55	0.00	0.00	0.00	0.00	0.00	0.00	0.05	8.55
58	Karur Vysya Bank Apps	0.04	15.87	0.00	0.00	0.00	0.00	0.00	0.00	0.04	15.87
59	MakeMyTrip	0.04	21.32	0.00	0.00	0.00	0.00	0.00	0.00	0.04	21.32
60	SHRIRAM	0.03	2.80	0.00	0.00	0.00	0.00	0.00	0.00	0.03	2.80
61	NSDL Payments Bank Apps	0.03	5.78	0.00	0.00	0.00	0.00	0.00	0.00	0.03	5.78
62	Equitas Small Finance Bank Apps	0.03	19.39	0.00	0.00	0.00	0.00	0.00	0.00	0.03	19.39
63	DIGIKHATA	0.03	10.80	0.00	0.00	0.00	0.00	0.00	0.00	0.03	10.80
64	SLICE	0.03	3.80	0.00	0.00	0.00	0.00	0.00	0.00	0.03	3.80
65	Allahabad Bank Apps	0.03	7.15	0.00	0.00	0.00	0.00	0.00	0.00	0.03	7.15
66	Punjab Sind Bank Apps	0.03	12.32	0.00	0.00	0.00	0.00	0.00	0.00	0.03	12.32
67	DHANI	0.02	2.58	0.00	0.00	0.00	0.00	0.00	0.00	0.02	2.58
68	Utkarsh Small Finance Bank Apps	0.02	6.63	0.00	0.00	0.00	0.00	0.00	0.00	0.02	6.63
69	Jammu and Kashmir Bank Apps	0.01	2.56	0.00	0.00	0.00	0.00	0.00	0.00	0.01	2.56
70	Dhanlaxmi Bank Apps	0.01	3.46	0.00	0.00	0.00	0.00	0.00	0.00	0.01	3.46
71	GoIbibo	0.01	2.34	0.00	0.00	0.00	0.00	0.00	0.00	0.01	2.34
72	Others	0.06	10.18	0.00	0.00	0.00	0.06	0.00	0.00	0.06	10.25

Note:-

App volume in table is basis the Payer App logic, i.e the financial transaction is attributed to the PSP in UPI on the Payer’s side.
All B2C (Business to Customer) & B2B (Business to Business) transactions is attributed to respective PSP .
From January 2021 onwards, ‘On-us Transactions’ in UPI that are not processed and settled through the UPI Central System is shown under ‘On-us Transactions’ column.
Apps which has volume less than 10,000 is included under ‘Other Apps’.
BHIM Volume is inclusive of *99# volume.
WhatsApp*: Maximum registered user base of hundred (100) million in UPI

UPI P2P and P2M Transactions

UPI P2P and P2M Transactions
Month	Total		P2P		P2M
Month	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
Sep'23	10,555.69	15,79,133.18	4,373.12	11,82,916.93	6,181.57	3,96,216.25

Glossary

P2P - P2P transactions are payments done by person to a person i.e. Peer to Peer Payments.
P2M - P2M transactions are payments done by person to a merchant i.e. Peer to Merchant Payments

UPI Payer PSP Performance

UPI Payer PSP Performance (Sep'23)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd	3454.56	98.37%	1.61%	0.02%
2	Axis Bank Ltd	2052.67	98.49%	1.49%	0.02%
3	ICICI Bank	1889.52	98.30%	1.68%	0.02%
4	Paytm Payments Bank	1353.31	98.49%	1.49%	0.02%
5	HDFC Bank Ltd	901.08	98.40%	1.57%	0.03%
6	State Bank Of India	889.49	98.86%	1.12%	0.02%
7	BHIM	25.28	91.38%	8.58%	0.04%
8	Fampay (PPI)	23.20	96.59%	3.41%	0.00%
9	Kotak Mahindra Bank	21.92	95.48%	4.35%	0.17%
10	Airtel Payments Bank	10.66	94.93%	5.06%	0.01%
11	Federal Bank	5.63	97.16%	2.82%	0.02%
12	India Post Payment Bank	5.35	93.65%	6.31%	0.04%
13	IDFC FIRST Bank	4.67	95.37%	4.03%	0.60%
14	RBL Bank	2.71	99.95%	0.05%	0.00%
15	Standard Chartered	2.04	98.55%	1.43%	0.02%

UPI Payee PSP Performance (Sep'23)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd	3576.59	99.77%	0.22%	0.01%
2	Paytm Payments Bank	2642.59	99.53%	0.45%	0.02%
3	ICICI Bank	1226.53	99.53%	0.44%	0.03%
4	Axis Bank Ltd	1164.83	99.53%	0.45%	0.02%
5	HDFC Bank Ltd	581.25	99.09%	0.79%	0.12%
6	State Bank Of India	498.93	99.38%	0.56%	0.06%
7	Federal Bank	184.36	98.31%	1.69%	0.00%
8	IndusInd Bank	51.09	97.45%	1.93%	0.62%
9	Kotak Mahindra Bank	35.54	99.49%	0.43%	0.08%
10	IDFC FIRST Bank	33.96	98.99%	0.62%	0.39%
11	Indian Bank	20.95	97.78%	1.46%	0.76%
12	Fino Payments Bank	18.20	99.70%	0.17%	0.13%
13	Canara Bank	16.64	99.70%	0.28%	0.03%
14	RBL Bank	16.57	96.56%	2.83%	0.61%
15	Cosmos Bank	15.53	97.35%	1.92%	0.73%

Glossary

Business Decline (BD) - Transaction decline due to a customer entering an invalid pin, incorrect beneficiary account etc. Or due to other business reasons such as exceeding per transaction limit, exceeding permitted count of transactions per day, exceeding amount limit for the day etc. Such declined transactions are termed as Business Decline. Any decline which is not because of a technical reason of the bank or NPCI is termed as business Decline.
Technical Decline (TD) - Transaction decline due to technical reasons, such as unavailability of systems and network issues on bank or NPCI side.
PSP - Payment Service Provider
Payer PSP - Under this function a bank can onboard a customer, create his/ her UPI ID, create device binding which is used as a first factor of Authentication, using this customer can enter their UPI PIN to approve a financial transaction or non-financial request where ever necessary.
Payee PSP - Under this function a bank can onboard a customer/merchant & allow them to receive money basis allocated UPI ID or raise a Collect request. It is also known as beneficiary PSP/resolving PSP.

UPI Merchant Category Classification - Sep 23

UPI Merchant Category-wise Classification - Sep'23
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5812	Eating places and restaurants
	4814	Telecommunication services, including local and long distance calls, credit card calls, calls through use of magnetic stripe reading telephones and faxes
	5814	Fast food restaurants
	5311	Department stores
	5541	Service stations (with or without ancillary services)
	5816	Digital Goods: Games
	5912	Drug stores and pharmacies
	5462	Bakeries
	4900	Utilities electric, gas, water and sanitary
Medium Transacting Categories	5813	Drinking places (alcoholic beverages) bars, taverns, night-clubs, cocktail lounges and discothques
	5451	Dairies
	7299	Miscellaneous personal services not elsewhere classified
	6540	Debit card to wallet credit (Wallet top up)
	7322	Debt collection agencies
	6012	Financial institutions merchandise and services
	5441	Candy, nut and confectionery shops
	5137	Mens, womens and childrens uniforms and commercial clothing
	5993	Cigar shops and stands
	5422	Freezer and locker meat provisioners
All Other Categories	5732	Electronics shops
	5399	Miscellaneous general merchandise
	7230	Beauty and barber shops
	6211	Securities brokers and dealers
	9399	Government services not elsewhere classified
	5722	Household appliance shops
	4121	Taxi-cabs and limousines
	5943	Cigar shops and stands
	4899	Cable and other pay television services
	Others

Glossary

Category classification is made in terms of Approved UPI transaction Volume.
High Transacting Categories: Top 10 MCCs
Medium Transacting Categories: Next 10 MCCs
All Other Categories: Next 9 MCCs along with all other MCCs clubbed under 'Others'
MCC Description is with reference to ISO 18245:2003 standard

UPI Top 50 Banks Performance (Aug'23)

UPI Remitter Banks - Top 50 Banks (Aug'23)
Sr. No.	UPI Remitter Banks (Aug-2023)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank Of India	2707.09	95.05%	4.22%	0.73%	12.89	93%
2	HDFC BANK LTD	933.63	95.83%	4.03%	0.15%	2.83	94%
3	Bank of Baroda	695.99	93.18%	5.19%	1.63%	2.49	80%
4	Union Bank of India	662.03	94.81%	4.20%	1.00%	3.42	64%
5	Punjab National Bank	518.59	94.33%	4.52%	1.15%	2.54	88%
6	ICICI Bank	508.79	96.20%	3.10%	0.71%	2.13	85%
7	Kotak Mahindra Bank	498.97	94.82%	5.13%	0.05%	1.25	85%
8	Axis Bank Ltd.	490.64	96.24%	3.56%	0.20%	1.56	61%
9	Canara Bank	487.59	94.49%	4.98%	0.53%	1.89	84%
10	Paytm Payments Bank	455.52	96.43%	3.54%	0.02%	0.54	98%
11	Bank of India	344.29	95.67%	3.89%	0.45%	1.16	81%
12	Indian Bank	291.98	95.21%	4.45%	0.33%	0.94	76%
13	Airtel Payments Bank	248.48	90.47%	8.74%	0.79%	0.86	1%
14	India Post Payment Bank	194.45	85.69%	11.86%	2.46%	0.82	71%
15	Federal Bank	166.08	95.08%	4.52%	0.39%	0.41	85%
16	Central Bank Of India	162.66	88.74%	9.13%	2.13%	1.96	76%
17	Indian Overseas Bank	139.00	93.84%	4.49%	1.67%	0.89	83%
18	UCO Bank	130.70	94.20%	4.91%	0.88%	0.75	47%
19	IDBI Bank Limited	125.88	94.14%	3.70%	2.16%	0.72	79%
20	Bank of Maharashtra	116.36	94.33%	5.13%	0.54%	0.37	79%
21	INDUSIND BANK	103.58	91.60%	5.32%	3.08%	1.00	41%
22	Fino Payments Bank Limited FIP	94.61	84.39%	14.35%	1.26%	0.34	72%
23	Yes Bank Ltd	86.57	95.43%	4.43%	0.14%	0.19	75%
24	Karnataka Bank	84.56	93.78%	5.37%	0.86%	0.18	82%
25	IDFC FIRST Bank	64.37	93.77%	5.51%	0.71%	0.30	50%
26	Karur Vysya Bank	52.31	93.73%	6.02%	0.25%	0.13	83%
27	South Indian Bank	43.92	96.05%	3.94%	0.02%	0.07	97%
28	Bandhan Bank	42.73	94.35%	4.70%	0.96%	0.23	61%
29	Jammu and Kashmir Bank	35.95	92.35%	5.88%	1.77%	0.21	1%
30	City Union Bank	31.40	93.30%	6.15%	0.54%	0.12	81%
31	AU small Finance Bank	31.04	95.27%	4.69%	0.04%	0.09	97%
32	Ujjivan Small Finance Bank	31.03	93.60%	5.73%	0.67%	0.14	56%
33	Punjab and Sind Bank	27.25	88.89%	6.64%	4.48%	0.36	36%
34	Tamilnad Mercantile Bank	27.10	94.32%	5.38%	0.29%	0.05	88%
35	Equitas Small Finance Bank	26.39	91.08%	8.55%	0.37%	0.07	97%
36	Standard Chartered	25.80	96.46%	2.13%	1.41%	0.10	56%
37	DBS Bank India Limited	23.99	95.34%	4.09%	0.57%	0.08	64%
38	Andhra Pradesh Grameena Vikas Bank	21.67	85.93%	11.66%	2.40%	0.11	57%
39	Kerala Gramin Bank	21.45	87.49%	7.82%	4.70%	0.35	36%
40	Pragathi Krishna Gramin Bank	20.54	88.05%	10.31%	1.63%	0.13	71%
41	Tri O Tech Solutions Private Limited	20.27	100.00%	0.00%	0.00%	0.00	NA
42	Maharashtra Gramin Bank	19.77	84.80%	12.66%	2.54%	0.05	77%
43	Citibank	19.62	96.15%	3.31%	0.53%	0.07	98%
44	Saraswat Bank	19.25	96.12%	3.05%	0.83%	0.07	72%
45	Rajasthan Marudhara Gramin Bank	17.16	85.32%	11.34%	3.33%	0.10	46%
46	ESAF Small Finance Bank Ltd.	16.63	92.99%	5.08%	1.93%	0.07	64%
47	Baroda UP Gramin Bank	15.76	74.78%	10.85%	14.36%	0.54	33%
48	RBL Bank	13.67	87.20%	9.24%	3.56%	0.13	69%
49	Fincare Small Finance Bank Ltd	13.25	86.13%	11.59%	2.28%	0.11	45%
50	Sarva Haryana Gramin Bank	12.81	90.66%	6.73%	2.61%	0.11	36%

UPI Top 50 Banks Performance (Aug'23)

UPI Beneficiary Banks - Top 50 Banks (Aug'23)
Sr.No.	UPI Beneficiary Banks (Aug-2023)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Paytm Payments Bank	2505.70	99.82%	0.13%	0.05%	0.00%
2	Yes Bank Ltd	1789.49	99.91%	0.02%	0.07%	0.01%
3	State Bank Of India	1114.59	99.09%	0.18%	0.73%	0.25%
4	Axis Bank Ltd.	733.96	99.81%	0.13%	0.06%	0.07%
5	ICICI Bank	630.09	99.33%	0.31%	0.36%	0.16%
6	HDFC BANK LTD	530.64	99.33%	0.59%	0.08%	0.07%
7	Bank of Baroda	308.67	98.24%	0.17%	1.59%	0.17%
8	Union Bank of India	295.91	99.30%	0.16%	0.54%	0.21%
9	Federal Bank	246.28	99.62%	0.25%	0.13%	0.01%
10	Punjab National Bank	234.84	98.38%	0.46%	1.16%	0.23%
11	Canara Bank	235.33	99.22%	0.42%	0.36%	0.15%
12	Kotak Mahindra Bank	215.21	99.53%	0.43%	0.03%	0.03%
13	Bank of India	164.10	99.36%	0.26%	0.38%	0.10%
14	Indian Bank	162.00	99.51%	0.42%	0.07%	0.09%
15	Airtel Payments Bank	135.79	99.00%	0.40%	0.60%	0.24%
16	INDUSIND BANK	102.79	97.34%	0.21%	2.45%	0.67%
17	India Post Payment Bank	85.70	98.52%	0.43%	1.05%	0.29%
18	Central Bank Of India	80.15	98.45%	0.58%	0.96%	0.50%
19	Indian Overseas Bank	66.68	98.56%	0.34%	1.10%	0.48%
20	UCO Bank	61.82	98.75%	0.77%	0.49%	0.11%
21	IDBI Bank Limited	57.26	97.73%	0.43%	1.84%	0.23%
22	Bank of Maharashtra	46.19	99.26%	0.23%	0.51%	0.14%
23	Fino Payments Bank Limited FIP	47.49	97.86%	1.27%	0.87%	0.07%
24	Karnataka Bank	37.71	98.54%	0.56%	0.90%	0.04%
25	IDFC FIRST Bank	54.42	98.71%	0.70%	0.59%	0.22%
26	Karur Vysya Bank	29.53	99.38%	0.40%	0.22%	0.08%
27	South Indian Bank	27.99	99.71%	0.22%	0.07%	0.01%
28	Bandhan Bank	26.00	98.68%	0.10%	1.22%	0.18%
29	AU small Finance Bank	21.75	98.71%	1.20%	0.08%	0.02%
30	Tamilnad Mercantile Bank	17.43	99.52%	0.19%	0.29%	0.01%
31	City Union Bank	16.91	98.87%	0.77%	0.36%	0.08%
32	RBL Bank	26.86	98.41%	0.39%	1.20%	0.25%
33	Ujjivan Small Finance Bank	16.59	99.16%	0.31%	0.53%	0.21%
34	Jammu and Kashmir Bank	16.76	98.56%	0.33%	1.11%	0.16%
35	Equitas Small Finance Bank	12.42	97.48%	2.08%	0.45%	0.01%
36	Punjab and Sind Bank	12.65	96.48%	0.18%	3.33%	0.67%
37	Kerala Gramin Bank	12.41	96.61%	0.20%	3.19%	1.41%
38	Pragathi Krishna Gramin Bank	10.90	99.04%	0.34%	0.61%	0.47%
39	CITIBank	10.05	99.83%	0.00%	0.17%	0.13%
40	Andhra Pradesh Grameena Vikas Bank	10.26	98.47%	0.62%	0.91%	0.11%
41	DBS Bank India Limited	9.69	98.22%	1.22%	0.56%	0.29%
42	Maharashtra Gramin Bank	9.26	98.64%	0.27%	1.09%	0.17%
43	Tri O Tech Solutions Private Limited	9.92	93.95%	5.82%	0.23%	0.06%
44	Rajasthan Marudhara Gramin Bank	8.71	97.80%	0.50%	1.70%	0.21%
45	Baroda UP Gramin Bank	9.26	88.47%	0.81%	10.73%	2.73%
46	ESAF Small Finance Bank Ltd.	8.84	98.73%	0.03%	1.24%	0.39%
47	Andhra Pragathi Grameena Bank	6.49	97.89%	0.36%	1.74%	0.03%
48	Saraswat Bank	7.12	99.11%	0.20%	0.69%	0.18%
49	Sarva Haryana Gramin Bank	5.95	97.17%	0.48%	2.34%	0.38%
50	Baroda Rajasthan Kshetriya Gramin Bank	5.64	95.32%	2.63%	2.05%	0.53%

Glossary

Business Decline (BD) - Transaction decline due to a customer entering an invalid pin, incorrect beneficiary account etc. Or due to other business reasons such as exceeding per transaction limit, exceeding permitted count of transactions per day, exceeding amount limit for the day etc. Such declined transactions are termed as Business Decline. Any decline which is not because of a technical reason of the bank or NPCI is termed as business Decline.
Technical Decline (TD) - Transaction decline due to technical reasons, such as unavailability of systems and network issues on bank or NPCI side.
The Debit Reversal Success percentage indicates the % of total cases, where a customer account may be debited and their bank is unable to confirm instantly about the status of reversal of such a debit. When reversal/credit is not processed instantly, it is processed manually by the bank as per the extant RBI guidelines.
Deemed Approved (Pending Credit Confirmation for UPI remittance transactions) - Deemed Approved percentage indicates the total percentage of cases of the total transactions, where credit confirmations are not received online from the beneficiary banks for the credit. If the beneficiary account is not credited online, transaction would be manually processed by the beneficiary bank as per the extant RBI guidelines.
Remitter - The account holder who is sending the money
Beneficiary - The account holder who is receiving money
Remitter Bank - The bank of the account holder who is sending the money
Beneficiary Bank - The bank of the account holder who is receiving money

UPI Apps (Aug'23)

UPI Apps (Aug'23)
Sr.No.	Application Name	Customer Initiated Transactions		B2C Transactions		B2B Transactions		On-us Transactions		Total
Sr.No.	Application Name	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
1	PhonePe	4987.33	775265.57	0.00	0.00	0.00	0.00	0.00	0.00	4987.33	775265.57
2	Google Pay	3767.68	538113.42	0.00	0.00	0.00	0.00	0.00	0.00	3767.68	538113.42
3	Paytm Payments Bank App	1363.05	153577.58	1.86	5.06	0.59	939.00	119.32	22282.87	1484.82	176804.51
4	Cred	85.13	31926.20	0.00	0.00	0.00	0.00	0.00	0.00	85.13	31926.20
5	Axis Bank Apps	9.37	1753.27	60.00	1275.96	0.05	7.88	0.00	0.00	69.43	3037.11
6	Amazon Pay	54.02	5836.99	0.00	0.00	0.00	0.00	0.00	0.00	54.02	5836.99
7	ICICI Bank Apps	25.85	9721.96	4.29	333.25	8.42	10943.90	0.00	0.00	38.57	20999.12
8	Yes Bank Apps	28.51	11154.68	0.00	0.00	0.44	100.09	0.00	0.00	28.94	11254.77
9	BHIM	24.61	7793.58	0.00	0.00	0.00	0.00	0.00	0.00	24.61	7793.58
10	Kotak Mahindra Bank Apps	21.16	3675.16	0.00	0.00	0.01	2.88	0.00	0.00	21.17	3678.04
11	FAM	20.27	235.89	0.00	0.00	0.00	0.00	0.00	0.00	20.27	235.89
12	WhatsApp	19.70	1677.53	0.00	0.00	0.00	0.00	0.00	0.00	19.70	1677.53
13	HDFC Bank Apps	18.94	4671.76	0.00	0.00	0.00	0.00	0.00	0.00	18.94	4671.76
14	Bajaj Finserv	13.22	1995.11	0.00	0.00	0.00	0.00	0.00	0.00	13.22	1995.11
15	Airtel Payments Bank Apps	10.20	699.21	0.00	0.00	0.00	0.00	0.00	0.06	10.20	699.27
16	Samsung Pay	6.00	538.48	0.00	0.00	0.00	0.00	0.00	0.00	6.00	538.48
17	Federal Bank Apps	5.70	700.65	0.00	0.00	0.00	0.01	0.00	0.00	5.70	700.66
18	India Post Payments Bank Apps	5.56	498.37	0.00	0.00	0.00	0.00	0.00	0.00	5.56	498.37
19	State Bank of India Apps	5.36	2104.14	0.00	0.00	0.02	0.67	0.00	0.00	5.39	2104.81
20	Groww	4.74	2911.09	0.00	0.00	0.00	0.00	0.00	0.00	4.74	2911.09
21	IDFC Bank Apps	4.36	1107.81	0.00	0.00	0.00	0.00	0.00	0.00	4.36	1107.81
22	Mobikwik	3.96	1203.54	0.00	0.00	0.00	0.00	0.00	0.00	3.96	1203.54
23	Jupiter	3.94	500.95	0.00	0.00	0.00	0.00	0.00	0.00	3.94	500.95
24	Standard Chartered Bank Apps	3.31	369.55	0.00	0.00	0.28	144.89	0.00	0.00	3.59	514.44
25	Deutsche Bank Apps	2.08	359.84	0.00	0.00	0.00	0.01	0.00	0.00	2.08	359.86
26	Canara Bank Apps	1.64	492.29	0.00	0.00	0.00	0.00	0.00	0.00	1.64	492.29
27	Jio Payments Bank Apps	1.42	113.65	0.00	0.00	0.00	0.00	0.00	0.00	1.42	113.65
28	RBL Bank Apps	1.20	540.67	0.00	0.02	0.19	7.62	0.00	0.00	1.38	548.31
29	Bank of Baroda Apps	1.27	462.61	0.00	0.00	0.00	4.23	0.00	0.00	1.27	466.84
30	slice	0.96	306.89	0.00	0.00	0.00	0.00	0.00	0.00	0.96	306.89
31	Union Bank Apps	0.90	324.77	0.00	0.00	0.00	0.00	0.00	0.00	0.90	324.77
32	Punjab National Bank Apps	0.86	179.75	0.00	0.00	0.00	0.00	0.00	0.00	0.86	179.75
33	IndusInd Bank Apps	0.85	391.31	0.00	0.00	0.00	0.00	0.00	0.00	0.85	391.31
34	OMNI	0.77	25.20	0.00	0.00	0.00	0.00	0.00	0.00	0.77	25.20
35	AU Small Finance Bank Apps	0.71	218.16	0.00	0.00	0.00	0.00	0.00	0.00	0.71	218.16
36	KIWI	0.69	69.86	0.00	0.00	0.00	0.00	0.00	0.00	0.69	69.86
37	Karnataka Bank Apps	0.65	127.83	0.00	0.00	0.00	0.00	0.00	0.00	0.65	127.83
38	DBS Digibank Apps	0.46	173.89	0.00	0.00	0.00	0.18	0.00	0.00	0.46	174.06
39	Central Bank of India Apps	0.45	96.12	0.00	0.00	0.00	0.29	0.00	0.00	0.45	96.41
40	UCO Bank Apps	0.38	132.77	0.00	0.00	0.00	0.00	0.00	0.00	0.38	132.77
41	Indian Bank Apps	0.33	88.52	0.00	0.00	0.00	3.17	0.00	0.00	0.33	91.69
42	Bank of India Apps	0.29	85.09	0.00	0.00	0.00	0.00	0.00	0.00	0.29	85.09
43	South Indian Bank Apps	0.28	77.42	0.00	0.00	0.00	0.00	0.00	0.00	0.28	77.42
44	Fino Payments bank Apps	0.21	15.43	0.00	0.00	0.00	0.00	0.00	0.00	0.21	15.43
45	HSBC Bank Apps	0.17	98.09	0.00	0.10	0.00	0.00	0.00	0.00	0.17	98.19
46	BPAYWALLET	0.15	32.07	0.00	0.00	0.00	0.00	0.00	0.00	0.15	32.07
47	Fave	0.12	7.54	0.00	0.00	0.00	0.00	0.00	0.00	0.12	7.54
48	TataNeu	0.10	16.09	0.00	0.00	0.00	0.00	0.00	0.00	0.10	16.09
49	Tamilnad Mercantile Bank Apps	0.10	25.45	0.00	0.00	0.00	0.00	0.00	0.00	0.10	25.45
50	Ultracash	0.09	6.17	0.00	0.00	0.00	0.00	0.00	0.00	0.09	6.17
51	Citi Bank Apps	0.08	58.11	0.00	0.00	0.00	0.00	0.00	0.00	0.08	58.11
52	Indian Overseas Bank Apps	0.07	19.01	0.00	0.00	0.00	0.00	0.00	0.00	0.07	19.01
53	City Union Bank Apps	0.07	19.79	0.00	0.00	0.00	0.00	0.00	0.00	0.07	19.79
54	IDBI Bank Apps	0.06	31.69	0.00	0.00	0.00	0.00	0.00	0.00	0.06	31.69
55	INDIE	0.05	12.60	0.00	0.00	0.00	0.00	0.00	0.00	0.05	12.60
56	Bank of Maharashtra Apps	0.05	8.18	0.00	0.00	0.00	0.00	0.00	0.00	0.05	8.18
57	Karur Vysya Bank Apps	0.05	16.11	0.00	0.00	0.00	0.00	0.00	0.00	0.05	16.11
58	MakeMyTrip	0.04	20.49	0.00	0.00	0.00	0.00	0.00	0.00	0.04	20.49
59	Shriram One	0.04	2.33	0.00	0.00	0.00	0.00	0.00	0.00	0.04	2.33
60	Equitas Small Finance Bank Apps	0.03	19.23	0.00	0.00	0.00	0.00	0.00	0.00	0.03	19.23
61	NSDL Payments Bank Apps	0.03	5.39	0.00	0.00	0.00	0.00	0.00	0.00	0.03	5.39
62	Allahabad Bank Apps	0.03	7.81	0.00	0.00	0.00	0.00	0.00	0.00	0.03	7.81
63	Punjab Sind Bank Apps	0.03	12.74	0.00	0.00	0.00	0.00	0.00	0.00	0.03	12.74
64	DHANI	0.03	4.20	0.00	0.00	0.00	0.00	0.00	0.00	0.03	4.20
65	Utkarsh Small Finance Bank Apps	0.02	6.67	0.00	0.00	0.00	0.00	0.00	0.00	0.02	6.67
66	Jammu and Kashmir Bank Apps	0.01	2.80	0.00	0.00	0.00	0.00	0.00	0.00	0.01	2.80
67	DIGIKHATA	0.01	3.81	0.00	0.00	0.00	0.00	0.00	0.00	0.01	3.81
68	ZOICICI	0.01	1.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	1.00
69	Dhanlaxmi Bank Apps	0.01	3.02	0.00	0.00	0.00	0.00	0.00	0.00	0.01	3.02
70	GoIbibo	0.01	2.99	0.00	0.00	0.00	0.00	0.00	0.00	0.01	2.99
71	SURYODAY	0.01	0.03	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.03
72	Bandhan Bank Apps	0.01	0.87	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.87
73	Others	0.03	8.45	0.00	0.00	0.00	0.01	0.00	0.00	0.03	8.46

Note:-

App volume in table is basis the Payer App logic, i.e the financial transaction is attributed to the PSP in UPI on the Payer’s side.
All B2C (Business to Customer) & B2B (Business to Business) transactions is attributed to respective PSP .
From January 2021 onwards, ‘On-us Transactions’ in UPI that are not processed and settled through the UPI Central System is shown under ‘On-us Transactions’ column.
Apps which has volume less than 10,000 is included under ‘Other Apps’.
BHIM Volume is inclusive of *99# volume.
WhatsApp*: Maximum registered user base of hundred (100) million in UPI

UPI P2P and P2M Transactions

UPI P2P and P2M Transactions
Month	Total		P2P		P2M
Month	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
Aug'23	10,586.02	15,76,536.56	4,388.83	11,79,095.66	6,197.18	3,97,440.90

Glossary

P2P - P2P transactions are payments done by person to a person i.e. Peer to Peer Payments.
P2M - P2M transactions are payments done by person to a merchant i.e. Peer to Merchant Payments

UPI Payer PSP Performance

UPI Payer PSP Performance (Aug'23)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd	3548.89	98.62%	1.38%	0.00%
2	Axis Bank Ltd	1984.84	98.49%	1.51%	0.00%
3	ICICI Bank	1834.95	98.57%	1.43%	0.00%
4	Paytm Payments Bank	1386.27	98.50%	1.49%	0.00%
5	State Bank Of India	985.73	98.40%	1.60%	0.00%
6	HDFC Bank Ltd	885.37	98.59%	1.41%	0.00%
7	BHIM	26.23	93.82%	6.16%	0.01%
8	Kotak Mahindra Bank	21.56	98.18%	1.82%	0.00%
9	Fampay (PPI)	20.57	98.54%	1.45%	0.01%
10	Airtel Payments Bank	10.46	97.53%	2.42%	0.05%
11	Federal Bank	5.82	98.06%	1.93%	0.01%
12	India Post Payment Bank	5.64	98.45%	1.55%	0.00%
13	IDFC FIRST Bank	4.66	97.92%	2.07%	0.01%
14	Standard Chartered	3.60	99.78%	0.22%	0.00%
15	RBL Bank	2.45	98.32%	1.67%	0.01%

UPI Payee PSP Performance (Aug'23)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd	3608.70	99.67%	0.32%	0.01%
2	Paytm Payments Bank	2657.59	99.66%	0.33%	0.01%
3	ICICI Bank	1215.47	99.41%	0.58%	0.01%
4	Axis Bank Ltd	1146.11	99.33%	0.61%	0.06%
5	HDFC Bank Ltd	599.32	99.03%	0.79%	0.18%
6	State Bank Of India	497.09	99.39%	0.53%	0.08%
7	Federal Bank	181.99	97.48%	2.04%	0.48%
8	IndusInd Bank	52.28	94.70%	3.90%	1.40%
9	Kotak Mahindra Bank	35.56	99.04%	0.59%	0.38%
10	IDFC FIRST Bank	30.81	99.12%	0.59%	0.29%
11	Indian Bank	24.28	99.61%	0.27%	0.12%
12	Fino Payments Bank	16.15	99.60%	0.34%	0.06%
13	Canara Bank	15.27	99.66%	0.31%	0.02%
14	Airtel Payments Bank	14.99	99.38%	0.12%	0.50%
15	Cosmos Bank	14.61	97.14%	2.14%	0.72%

Glossary

Business Decline (BD) - Transaction decline due to a customer entering an invalid pin, incorrect beneficiary account etc. Or due to other business reasons such as exceeding per transaction limit, exceeding permitted count of transactions per day, exceeding amount limit for the day etc. Such declined transactions are termed as Business Decline. Any decline which is not because of a technical reason of the bank or NPCI is termed as business Decline.
Technical Decline (TD) - Transaction decline due to technical reasons, such as unavailability of systems and network issues on bank or NPCI side.
PSP - Payment Service Provider
Payer PSP - Under this function a bank can onboard a customer, create his/ her UPI ID, create device binding which is used as a first factor of Authentication, using this customer can enter their UPI PIN to approve a financial transaction or non-financial request where ever necessary.
Payee PSP - Under this function a bank can onboard a customer/merchant & allow them to receive money basis allocated UPI ID or raise a Collect request. It is also known as beneficiary PSP/resolving PSP.

UPI Top 50 Banks Performance (Jul'23)

UPI Remitter Banks - Top 50 Banks (Jul'23)
Sr. No.	UPI Remitter Banks (Jul-2023)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank Of India	2574.67	95.55%	4.27%	0.17%	8.675316	99.41%
2	HDFC BANK LTD	879.56	96.30%	3.59%	0.11%	2.233976	100.00%
3	Bank of Baroda	645.14	94.64%	5.21%	0.15%	2.143761	99.73%
4	Union Bank of India	616.05	95.63%	4.35%	0.01%	1.726157	100.00%
5	Punjab National Bank	480.73	95.29%	4.47%	0.24%	1.605735	100.00%
6	ICICI Bank	481.53	96.70%	3.27%	0.03%	1.303102	92.77%
7	Axis Bank Ltd.	462.20	96.34%	3.65%	0.01%	1.059541	100.00%
8	Kotak Mahindra Bank	460.81	94.83%	5.13%	0.04%	1.303627	100.00%
9	Canara Bank	454.62	94.32%	4.97%	0.71%	2.063598	99.39%
10	Paytm Payments Bank	433.01	96.43%	3.55%	0.02%	0.623114	100.00%
11	Bank of India	322.25	95.72%	4.14%	0.13%	0.868259	100.00%
12	Indian Bank	276.75	93.27%	4.86%	1.86%	1.220299	100.00%
13	Airtel Payments Bank	224.92	90.33%	8.55%	1.12%	0.222457	99.96%
14	India Post Payment Bank	175.71	84.45%	11.40%	4.15%	0.788979	85.56%
15	Federal Bank	154.12	95.07%	4.68%	0.25%	0.402231	100.00%
16	Central Bank Of India	154.10	89.55%	8.65%	1.80%	1.253073	100.00%
17	Indian Overseas Bank	132.05	92.31%	4.50%	3.19%	0.977749	100.00%
18	UCO Bank	120.45	94.51%	4.88%	0.61%	0.397799	100.00%
19	IDBI Bank Limited	118.46	95.57%	3.78%	0.65%	0.446276	99.98%
20	Bank of Maharashtra	111.27	91.99%	6.38%	1.63%	0.388401	100.00%
21	INDUSIND BANK	97.54	94.25%	5.44%	0.31%	0.382963	99.16%
22	Fino Payments Bank Limited FIP	90.80	79.40%	15.40%	5.21%	0.526504	64.03%
23	Yes Bank Ltd	85.79	95.53%	4.30%	0.17%	0.161788	100.00%
24	Karnataka Bank	80.33	92.53%	5.69%	1.77%	0.198716	100.00%
25	Karur Vysya Bank	50.34	92.87%	6.11%	1.02%	0.166862	100.00%
26	Bandhan Bank	41.14	90.79%	9.16%	0.05%	0.144404	100.00%
27	South Indian Bank	40.23	95.41%	4.49%	0.11%	0.076772	99.27%
28	IDFC FIRST Bank	60.28	93.93%	5.63%	0.43%	0.129183	99.79%
29	Jammu and Kashmir Bank	31.04	91.74%	6.44%	1.82%	0.035887	99.71%
30	City Union Bank	29.80	93.47%	6.29%	0.24%	0.084771	100.00%
31	Ujjivan Small Finance Bank	29.03	93.93%	5.73%	0.34%	0.089636	100.00%
32	AU small Finance Bank	28.65	95.49%	4.39%	0.12%	0.098094	99.97%
33	Tamilnad Mercantile Bank	25.91	94.17%	5.79%	0.04%	0.052471	100.00%
34	Equitas Bank	25.64	90.10%	8.75%	1.14%	0.092811	98.98%
35	Standard Chartered	25.48	96.92%	2.41%	0.68%	0.074502	100.00%
36	Punjab and Sind Bank	25.31	89.04%	8.36%	2.60%	0.127147	100.00%
37	DBS Bank India Limited	23.19	95.78%	3.98%	0.25%	0.049484	100.00%
38	Andhra Pradesh Grameena Vikas Bank	20.75	84.92%	12.33%	2.75%	0.051766	100.00%
39	Pragathi Krishna Gramin Bank	20.14	85.92%	10.66%	3.42%	0.052157	100.00%
40	Citibank	19.10	95.95%	3.31%	0.75%	0.112173	100.00%
41	Maharashtra Gramin Bank	19.04	79.69%	12.11%	8.20%	0.066891	99.96%
42	Kerala Gramin Bank	18.76	91.27%	8.30%	0.43%	0.051573	99.70%
43	Saraswat Bank	17.71	95.29%	3.55%	1.15%	0.056245	100.00%
44	Tri O Tech Solutions Private Limited	16.79	100.00%	0.00%	0.00%	0.048366	100.00%
45	Rajasthan Marudhara Gramin Bank	16.19	83.07%	12.32%	4.61%	0	NA
46	ESAF Small Finance Bank Ltd.	15.21	93.39%	5.61%	0.99%	0.053937	100.00%
47	Baroda UP Gramin Bank	13.14	83.94%	8.79%	7.27%	0.038648	100.00%
48	Sarva Haryana Gramin Bank	12.94	91.54%	6.82%	1.64%	0.09829	99.90%
49	RBL Bank	12.63	92.83%	6.14%	1.03%	0.045407	99.95%
50	Andhra Pragathi Grameena Bank	12.20	75.58%	15.17%	9.25%	0.065589	97.24%

UPI Top 50 Banks Performance (Jul'23)

UPI Beneficiary Banks - Top 50 Banks (Jul'23)
Sr.No.	UPI Beneficiary Banks (Jul-2023)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Paytm Payments Bank	2331.83	99.82%	0.17%	0.01%	0.00%
2	Yes Bank Ltd	1865.76	99.87%	0.02%	0.11%	0.03%
3	State Bank Of India	1070.51	99.24%	0.18%	0.58%	0.06%
4	Axis Bank Ltd.	688.05	99.89%	0.09%	0.02%	0.04%
5	ICICI Bank	627.95	99.79%	0.10%	0.12%	0.05%
6	HDFC BANK LTD	510.54	99.27%	0.65%	0.08%	0.03%
7	Bank of Baroda	290.12	99.58%	0.25%	0.17%	0.14%
8	Union Bank of India	279.02	99.76%	0.15%	0.08%	0.03%
9	Federal Bank	229.06	99.66%	0.23%	0.11%	0.01%
10	Canara Bank	223.29	98.89%	0.43%	0.68%	0.23%
11	Punjab National Bank	222.99	99.37%	0.42%	0.20%	0.19%
12	Kotak Mahindra Bank	200.84	98.30%	1.48%	0.22%	0.06%
13	Bank of India	155.21	99.70%	0.22%	0.08%	0.03%
14	Indian Bank	149.29	98.54%	0.36%	1.10%	0.44%
15	Airtel Payments Bank	124.06	98.89%	0.38%	0.73%	0.46%
16	INDUSIND BANK	96.57	99.32%	0.19%	0.49%	0.14%
17	India Post Payment Bank	78.07	97.79%	0.43%	1.78%	0.35%
18	Central Bank Of India	76.44	98.38%	0.57%	1.06%	0.48%
19	Indian Overseas Bank	63.85	97.51%	0.31%	2.17%	0.83%
20	UCO Bank	57.89	98.86%	0.68%	0.47%	0.12%
21	IDBI Bank Limited	54.70	99.09%	0.39%	0.52%	0.10%
22	IDFC FIRST Bank	49.55	98.41%	1.00%	0.59%	0.21%
23	Bank of Maharashtra	44.04	98.21%	0.21%	1.58%	0.27%
24	Fino Payments Bank Limited FIP	41.98	95.42%	1.11%	3.47%	0.28%
25	Karnataka Bank	36.16	97.50%	0.72%	1.78%	0.17%
26	Karur Vysya Bank	28.69	98.69%	0.43%	0.88%	0.14%
27	South Indian Bank	26.01	99.71%	0.22%	0.06%	0.01%
28	Bandhan Bank	24.42	99.41%	0.09%	0.49%	0.05%
29	RBL Bank	22.99	99.56%	0.30%	0.14%	0.08%
30	AU small Finance Bank	20.30	98.32%	1.60%	0.08%	0.02%
31	Tamilnad Mercantile Bank	16.44	99.76%	0.15%	0.09%	0.02%
32	City Union Bank	16.17	98.67%	0.90%	0.43%	0.10%
33	Ujjivan Small Finance Bank	15.43	99.34%	0.30%	0.36%	0.16%
34	Jammu and Kashmir Bank	14.39	98.52%	0.32%	1.16%	0.11%
35	Equitas Small Finance Bank	11.99	97.20%	2.08%	0.72%	0.08%
36	Punjab and Sind Bank	11.66	97.74%	0.18%	2.08%	0.24%
37	Kerala Gramin Bank	10.91	99.48%	0.20%	0.32%	0.26%
38	CITI Bank	10.78	99.85%	0.00%	0.15%	0.12%
39	Pragathi Krishna Gramin Bank	10.70	97.33%	0.35%	2.32%	0.62%
40	Andhra Pradesh Grameena Vikas Bank	9.66	97.69%	0.25%	2.05%	0.36%
41	DBS Bank India Limited	9.44	98.38%	1.25%	0.37%	0.15%
42	Maharashtra Gramin Bank	8.96	93.62%	0.46%	5.92%	0.49%
43	Tri O Tech Solutions Private Limited	8.46	93.56%	6.12%	0.32%	0.04%
44	Baroda UP Gramin Bank	8.28	93.30%	0.74%	5.97%	1.60%
45	Rajasthan Marudhara Gramin Bank	8.20	96.29%	0.45%	3.27%	0.29%
46	ESAF Small Finance Bank Ltd.	8.14	99.27%	0.04%	0.69%	0.30%
47	Andhra Pragathi Grameena Bank	6.71	88.20%	0.43%	11.38%	0.31%
48	Saraswat Bank	6.64	98.11%	0.18%	1.72%	0.20%
49	Sarva Haryana Gramin Bank	6.08	98.26%	0.48%	1.26%	0.19%
50	Baroda Rajasthan Kshetriya Gramin Bank	5.45	92.90%	2.40%	4.70%	0.84%

Glossary

Business Decline (BD) - Transaction decline due to a customer entering an invalid pin, incorrect beneficiary account etc. Or due to other business reasons such as exceeding per transaction limit, exceeding permitted count of transactions per day, exceeding amount limit for the day etc. Such declined transactions are termed as Business Decline. Any decline which is not because of a technical reason of the bank or NPCI is termed as business Decline.
Technical Decline (TD) - Transaction decline due to technical reasons, such as unavailability of systems and network issues on bank or NPCI side.
The Debit Reversal Success percentage indicates the % of total cases, where a customer account may be debited and their bank is unable to confirm instantly about the status of reversal of such a debit. When reversal/credit is not processed instantly, it is processed manually by the bank as per the extant RBI guidelines.
Deemed Approved (Pending Credit Confirmation for UPI remittance transactions) - Deemed Approved percentage indicates the total percentage of cases of the total transactions, where credit confirmations are not received online from the beneficiary banks for the credit. If the beneficiary account is not credited online, transaction would be manually processed by the beneficiary bank as per the extant RBI guidelines.
Remitter - The account holder who is sending the money
Beneficiary - The account holder who is receiving money
Remitter Bank - The bank of the account holder who is sending the money
Beneficiary Bank - The bank of the account holder who is receiving money

UPI Apps (Jul'23)

UPI Apps (Jul'23)
Sr.No.	Application Name	Customer Initiated Transactions		B2C Transactions		B2B Transactions		On-us Transactions		Total
Sr.No.	Application Name	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
1	PhonePe	4743.66	761247.87	0.00	0.00	0.00	0.00			4743.66	761247.87
2	Google Pay	3494.64	518095.10	0.00	0.00	0.00	0.00			3494.64	518095.10
3	Paytm Payments Bank App	1278.96	147723.30	1.40	4.19	0.57	887.53	112.74	22152.33	1393.66	170767.35
4	Cred	80.34	30999.71	0.00	0.00	0.00	0.00			80.34	30999.71
5	Axis Bank Apps	9.77	1767.83	54.52	1447.04	0.01	2.16			64.30	3217.03
6	Amazon Pay	57.60	6163.84	0.00	0.00	0.00	0.00			57.60	6163.84
7	ICICI Bank Apps	24.47	8077.88	4.14	312.80	7.31	9379.69			35.92	17770.37
8	Yes Bank Apps	31.53	11419.73	0.00	0.00	0.48	83.07			32.01	11502.79
9	BHIM	24.94	8244.91	0.00	0.00	0.00	0.00			24.94	8244.91
10	Kotak Mahindra Bank Apps	18.56	3480.59	0.00	0.00	0.00	0.01			18.56	3480.60
11	WhatsApp	17.84	1598.67	0.00	0.00	0.00	0.00			17.84	1598.67
12	HDFC Bank Apps	17.77	4410.51	0.00	0.00	0.00	0.00			17.77	4410.51
13	Fampay	16.79	206.43	0.00	0.00	0.00	0.00			16.79	206.43
14	Bajaj Finserv	12.11	1740.97	0.00	0.00	0.00	0.00			12.11	1740.97
15	Airtel Payments Bank Apps	9.65	665.97	0.00	0.00	0.00	0.01	0.00	0.07	9.65	666.04
16	Samsung Pay	5.81	544.13	0.00	0.00	0.00	0.00			5.81	544.13
17	India Post Payments Bank Apps	5.43	587.75	0.00	0.00	0.00	0.00			5.43	587.75
18	Federal Bank Apps	5.19	665.11	0.00	0.00	0.00	0.00			5.19	665.11
19	State Bank of India Apps	4.99	2094.63	0.00	0.00	0.02	0.52			5.01	2095.15
20	IDFC Bank Apps	4.17	1121.41	0.00	0.00	0.00	0.00			4.17	1121.41
21	Standard Chartered Bank Apps	3.54	1606.29	0.00	0.00	0.60	523.09			4.14	2129.38
22	Mobikwik	3.79	1140.63	0.00	0.00	0.00	0.00			3.79	1140.63
23	Jupiter	3.27	466.39	0.00	0.00	0.00	0.00			3.27	466.39
24	Groww	2.81	2075.98	0.00	0.00	0.00	0.00			2.81	2075.98
25	Deutsche Bank Apps	1.83	175.50	0.00	0.00	0.00	0.02			1.83	175.52
26	Canara Bank Apps	1.73	514.02	0.00	0.00	0.00	0.00			1.73	514.02
27	Kiwi	1.53	52.51	0.00	0.00	0.00	0.00			1.53	52.51
28	Bank of Baroda Apps	1.34	477.16	0.00	0.00	0.00	0.00			1.34	477.16
29	Jio Payments Bank Apps	1.34	114.12	0.00	0.00	0.00	0.00			1.34	114.12
30	RBL Bank Apps	1.13	523.22	0.00	0.01	0.14	6.35			1.28	529.58
31	slice	0.94	301.00	0.00	0.00	0.00	0.00			0.94	301.00
32	Union Bank Apps	0.88	349.19	0.00	0.00	0.00	0.00			0.88	349.19
33	IndusInd Bank Apps	0.84	723.32	0.00	0.00	0.00	0.00			0.84	723.32
34	Punjab National Bank Apps	0.79	181.50	0.00	0.00	0.00	0.00			0.79	181.50
35	AU Small Finance Bank Apps	0.68	209.86	0.00	0.00	0.00	0.00			0.68	209.86
36	Omnicard	0.62	19.49	0.00	0.00	0.00	0.00			0.62	19.49
37	Karnataka Bank Apps	0.61	124.34	0.00	0.00	0.00	0.00			0.61	124.34
38	DBS Digibank Apps	0.44	179.34	0.00	0.00	0.00	0.37			0.44	179.72
39	Central Bank of India Apps	0.44	97.52	0.00	0.00	0.00	0.23			0.44	97.75
40	UCO Bank Apps	0.36	116.31	0.00	0.00	0.00	0.00			0.36	116.31
41	Indian Bank Apps	0.31	92.29	0.00	0.00	0.00	0.35			0.31	92.64
42	South Indian Bank Apps	0.25	73.83	0.00	0.00	0.00	0.00			0.25	73.83
43	Bank of India Apps	0.25	78.83	0.00	0.00	0.00	0.00			0.25	78.83
44	Fino Payments bank Apps	0.17	13.36	0.00	0.00	0.00	0.00			0.17	13.36
45	HSBC Bank Apps	0.16	96.44	0.00	0.08	0.00	0.00			0.16	96.52
46	Fave	0.12	7.56	0.00	0.00	0.00	0.00			0.12	7.56
47	Bajaj Finserv PPI	0.11	25.80	0.00	0.00	0.00	0.00			0.11	25.80
48	TataNeu	0.10	16.70	0.00	0.00	0.00	0.00			0.10	16.70
49	Tamilnad Mercantile Bank Apps	0.10	23.50	0.00	0.00	0.00	0.00			0.10	23.50
50	IDBI Bank Apps	0.07	37.40	0.00	0.00	0.00	0.00			0.07	37.40
51	Citi Bank Apps	0.07	61.36	0.00	0.00	0.00	0.00			0.07	61.36
52	Ultracash	0.07	5.01	0.00	0.00	0.00	0.00			0.07	5.01
53	City Union Bank Apps	0.07	20.96	0.00	0.00	0.00	0.00			0.07	20.96
54	Indian Overseas Bank Apps	0.07	18.01	0.00	0.00	0.00	0.00			0.07	18.01
55	Karur Vysya Bank Apps	0.04	16.34	0.00	0.00	0.00	0.00			0.04	16.34
56	MakeMyTrip	0.04	19.92	0.00	0.00	0.00	0.00			0.04	19.92
57	Dhani	0.03	7.81	0.00	0.00	0.00	0.00			0.03	7.81
58	Equitas Small Finance Bank Apps	0.03	18.90	0.00	0.00	0.00	0.00			0.03	18.90
59	Bank of Maharashtra Apps	0.03	5.66	0.00	0.00	0.00	0.00			0.03	5.66
60	Allahabad Bank Apps	0.03	8.73	0.00	0.00	0.00	0.00			0.03	8.73
61	Punjab Sind Bank Apps	0.03	12.72	0.00	0.00	0.00	0.00			0.03	12.72
62	NSDL Payments Bank Apps	0.03	4.56	0.00	0.00	0.00	0.00			0.03	4.56
63	Utkarsh Small Finance Bank Apps	0.02	6.24	0.00	0.00	0.00	0.00			0.02	6.24
64	Mobikwik PPI	0.02	3.63	0.00	0.00	0.00	0.00			0.02	3.63
65	Jammu and Kashmir Bank Apps	0.01	2.29	0.00	0.00	0.00	0.00			0.01	2.29
66	Zomato	0.01	0.66	0.00	0.00	0.00	0.00			0.01	0.66
67	Dhanlaxmi Bank Apps	0.01	2.87	0.00	0.00	0.00	0.00			0.01	2.87
68	Bandhan Bank Apps	0.01	0.98	0.00	0.00	0.00	0.00			0.01	0.98
69	Shriram	0.01	0.21	0.00	0.00	0.00	0.00			0.01	0.21
70	Others	0.03	11.05	0.00	0.00	0.00	0.00			0.03	11.05

Note:-

App volume in table is basis the Payer App logic, i.e the financial transaction is attributed to the PSP in UPI on the Payer’s side.
All B2C (Business to Customer) & B2B (Business to Business) transactions is attributed to respective PSP .
From January 2021 onwards, ‘On-us Transactions’ in UPI that are not processed and settled through the UPI Central System is shown under ‘On-us Transactions’ column.
Apps which has volume less than 10,000 is included under ‘Other Apps’.
BHIM Volume is inclusive of *99# volume.
WhatsApp*: Maximum registered user base of hundred (100) million in UPI

UPI P2P and P2M Transactions

UPI P2P and P2M Transactions
Month	Total		P2P		P2M
Month	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
Jul'23	9,964.61	15,33,645.20	4,184.42	11,48,397.97	5,780.19	3,85,247.22

Glossary

P2P - P2P transactions are payments done by person to a person i.e. Peer to Peer Payments.
P2M - P2M transactions are payments done by person to a merchant i.e. Peer to Merchant Payments

UPI Payer PSP Performance

UPI Payer PSP Performance (Jul'23)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd	3475.05	98.47%	1.53%	0.00%
2	Axis Bank Ltd	1814.41	98.32%	1.67%	0.00%
3	ICICI Bank	1642.83	98.43%	1.57%	0.00%
4	Paytm Payments Bank	1302.04	98.38%	1.62%	0.00%
5	State Bank Of India	967.58	98.13%	1.87%	0.00%
6	HDFC Bank Ltd	815.96	98.49%	1.50%	0.01%
7	BHIM	26.31	94.78%	5.20%	0.02%
8	Kotak Mahindra Bank	19.02	97.58%	2.40%	0.01%
9	Fampay (PPI)	17.07	98.34%	1.66%	0.00%
10	Airtel Payments Bank	9.93	97.20%	2.74%	0.06%
11	India Post Payment Bank	5.53	98.21%	1.79%	0.00%
12	Federal Bank	5.32	97.55%	2.44%	0.01%
13	IDFC FIRST Bank	4.49	97.19%	2.77%	0.04%
14	Standard Chartered	4.15	99.79%	0.21%	0.00%
15	RBL Bank	2.40	97.99%	2.00%	0.00%

UPI Payee PSP Performance (Jul'23)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd	3432.56	99.66%	0.30%	0.03%
2	Paytm Payments Bank	2469.97	99.61%	0.37%	0.02%
3	ICICI Bank	1169.26	99.48%	0.47%	0.05%
4	Axis Bank Ltd	1063.59	99.45%	0.52%	0.03%
5	HDFC Bank Ltd	552.11	99.25%	0.67%	0.08%
6	State Bank Of India	473.74	99.32%	0.60%	0.09%
7	Federal Bank	166.71	98.48%	1.32%	0.19%
8	IndusInd Bank	49.09	98.74%	0.74%	0.52%
9	Kotak Mahindra Bank	32.00	99.14%	0.51%	0.35%
10	IDFC FIRST Bank	25.61	95.01%	2.32%	2.67%
11	Indian Bank	18.40	98.17%	1.58%	0.25%
12	Airtel Payments Bank	15.20	98.46%	0.49%	1.05%
13	Canara Bank	14.88	99.05%	0.81%	0.14%
14	Cosmos Bank	14.21	94.80%	5.00%	0.19%
15	Fino Payments Bank	12.36	97.74%	1.82%	0.44%

Glossary

Business Decline (BD) - Transaction decline due to a customer entering an invalid pin, incorrect beneficiary account etc. Or due to other business reasons such as exceeding per transaction limit, exceeding permitted count of transactions per day, exceeding amount limit for the day etc. Such declined transactions are termed as Business Decline. Any decline which is not because of a technical reason of the bank or NPCI is termed as business Decline.
Technical Decline (TD) - Transaction decline due to technical reasons, such as unavailability of systems and network issues on bank or NPCI side.
PSP - Payment Service Provider
Payer PSP - Under this function a bank can onboard a customer, create his/ her UPI ID, create device binding which is used as a first factor of Authentication, using this customer can enter their UPI PIN to approve a financial transaction or non-financial request where ever necessary.
Payee PSP - Under this function a bank can onboard a customer/merchant & allow them to receive money basis allocated UPI ID or raise a Collect request. It is also known as beneficiary PSP/resolving PSP.

UPI Merchant Category Classification - Jul 23

UPI Merchant Category-wise Classification - Jul'23
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5812	Eating places and restaurants
	4814	Telecommunication services, including local and long distance calls, credit card calls, calls through use of magnetic stripe reading telephones and faxes
	5814	Fast food restaurants
	5311	Department stores
	5541	Service stations (with or without ancillary services)
	5816	Digital Goods: Games
	5912	Drug stores and pharmacies
	5462	Bakeries
	4900	Utilities electric, gas, water and sanitary
Medium Transacting Categories	6540	Debit card to wallet credit (Wallet top up)
	5813	Drinking places (alcoholic beverages) bars, taverns, night-clubs, cocktail lounges and discothques
	5451	Dairies
	7299	Miscellaneous personal services not elsewhere classified
	7322	Debt collection agencies
	6012	Financial institutions merchandise and services
	5399	Miscellaneous general merchandise
	6211	Securities brokers and dealers
	5732	Electronics shops
	5441	Candy, nut and confectionery shops
All Other Categories	5422	Freezer and locker meat provisioners
	5137	Mens, womens and childrens uniforms and commercial clothing
	5993	Cigar shops and stands
	7230	Beauty and barber shops
	5331	Variety stores
	5722	Household appliance shops
	9399	Government services not elsewhere classified
	5262	Online Marketplaces
	4899	Cable and other pay television services
	Others

Glossary

Category classification is made in terms of Approved UPI transaction Volume.
High Transacting Categories: Top 10 MCCs
Medium Transacting Categories: Next 10 MCCs
All Other Categories: Next 9 MCCs along with all other MCCs clubbed under 'Others'
MCC Description is with reference to ISO 18245:2003 standard

UPI Top 50 Banks Performance (Jun'23)

UPI Remitter Banks - Top 50 Banks (Jun'23)
Sr. No.	UPI Remitter Banks (Jun-2023)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank of India	2415.09	95.62%	4.23%	0.14%	7.08	96.41%
2	HDFC BANK LTD	830.95	96.41%	3.49%	0.11%	2.22	95.48%
3	Bank of Baroda	604.62	94.46%	5.36%	0.18%	1.84	91.10%
4	Union Bank of India	581.94	95.29%	4.45%	0.26%	1.80	82.12%
5	ICICI Bank	461.74	95.59%	3.11%	1.31%	2.53	91.21%
6	Punjab National Bank	449.87	95.31%	4.24%	0.45%	1.85	94.69%
7	Kotak Mahindra Bank	436.37	92.80%	4.85%	2.34%	1.35	72.73%
8	Canara Bank	429.75	94.19%	4.86%	0.95%	2.45	82.16%
9	Axis Bank Ltd	422.13	96.07%	3.88%	0.05%	1.08	84.01%
10	Paytm Payments Bank	407.65	96.41%	3.59%	0.00%	0.58	97.07%
11	Bank of India	303.65	95.96%	3.89%	0.15%	0.91	88.65%
12	Indian Bank	254.86	94.91%	4.67%	0.42%	1.17	68.48%
13	Airtel Payments Bank	205.13	89.26%	9.06%	1.68%	1.23	25.74%
14	India Post Payment Bank	171.64	74.50%	10.55%	14.95%	3.24	39.13%
15	Federal Bank	147.42	94.11%	5.17%	0.72%	0.46	82.38%
16	Central Bank Of India	146.77	88.61%	8.72%	2.67%	1.99	69.10%
17	Indian Overseas Bank	121.04	94.91%	4.52%	0.57%	0.45	92.24%
18	IDBI Bank Limited	113.13	95.57%	3.67%	0.76%	0.52	90.90%
19	UCO Bank	111.61	91.35%	5.18%	3.46%	1.15	39.34%
20	Bank of Maharashtra	103.70	94.03%	5.09%	0.87%	0.47	67.71%
21	INDUSIND BANK	91.07	94.19%	5.57%	0.23%	0.33	90.29%
22	Yes Bank Ltd	87.16	96.03%	3.78%	0.20%	0.19	72.87%
23	Fino Payments Bank Limited	80.47	85.18%	13.57%	1.25%	0.26	88.93%
24	Karnataka Bank	76.27	93.21%	5.09%	1.70%	0.18	88.81%
25	IDFC FIRST Bank	60.02	93.98%	5.59%	0.43%	0.24	66.61%
26	Karur Vysya Bank	47.09	93.03%	6.88%	0.09%	0.11	92.10%
27	Bandhan Bank	38.12	93.15%	5.44%	1.41%	0.28	58.31%
28	South Indian Bank	38.08	95.79%	4.20%	0.01%	0.07	95.94%
29	Jammu and Kashmir Bank	30.81	88.97%	7.02%	4.00%	0.31	40.85%
30	City Union Bank	27.66	93.18%	6.25%	0.57%	0.08	94.82%
31	Ujjivan Small Finance Bank	26.84	93.85%	5.74%	0.41%	0.11	67.18%
32	AU small Finance Bank	26.60	94.32%	4.63%	1.05%	0.19	96.80%
33	Equitas Bank	24.45	90.40%	9.33%	0.26%	0.07	93.51%
34	Tamilnad Mercantile Bank	23.94	94.02%	5.74%	0.25%	0.05	81.82%
35	Punjab and Sind Bank	23.88	87.61%	9.61%	2.79%	0.24	49.60%
36	DBS Bank India Limited	22.40	95.83%	3.95%	0.22%	0.07	82.03%
37	Standard Chartered	21.93	97.40%	2.29%	0.31%	0.06	84.51%
38	Andhra Pradesh Grameena Vikas Bank	20.70	79.23%	12.48%	8.29%	0.35	55.17%
39	Pragathi Krishna Gramin Bank	18.72	86.69%	9.58%	3.73%	0.19	53.50%
40	Citibank	18.54	94.07%	3.75%	2.18%	0.08	94.21%
41	Maharashtra Gramin Bank	17.89	80.91%	10.75%	8.34%	0.16	26.11%
42	Kerala Gramin Bank	17.62	89.73%	8.33%	1.95%	0.10	68.23%
43	Saraswat Bank	17.31	95.04%	3.75%	1.21%	0.10	33.36%
44	Tri O Tech Solutions Private Limited (PPI)	14.99	100.00%	0.00%	0.00%	0.00	0.00%
45	Rajasthan Marudhara Gramin Bank	14.55	82.55%	12.85%	4.60%	0.18	22.95%
46	ESAF Small Finance Bank Ltd.	14.37	91.91%	6.11%	1.98%	0.05	69.68%
47	Sarva Haryana Gramin Bank	12.47	90.04%	6.89%	3.07%	0.08	48.50%
48	RBL Bank	12.07	92.58%	6.25%	1.17%	0.04	88.21%
49	Baroda UP Gramin Bank	11.43	86.89%	9.19%	3.92%	0.15	29.40%
50	Andhra Pragathi Grameena Bank	11.17	73.43%	21.36%	5.21%	0.10	24.44%

UPI Top 50 Banks Performance (Jun'23)

UPI Beneficiary Banks - Top 50 Banks (Jun'23)
Sr.No.	UPI Beneficiary Banks (Jun-2023)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Paytm Payments Bank	2177.68	99.79%	0.20%	0.01%	0.00%
2	Yes Bank Ltd	1735.59	99.96%	0.02%	0.02%	0.00%
3	State Bank Of India	1017.11	99.66%	0.19%	0.13%	0.02%
4	Axis Bank Ltd	644.25	99.76%	0.11%	0.08%	0.04%
5	ICICI Bank	591.75	98.72%	0.25%	0.76%	0.27%
6	HDFC BANK LTD	479.17	99.41%	0.48%	0.07%	0.04%
7	Bank of Baroda	274.76	99.64%	0.16%	0.12%	0.08%
8	Union Bank of India	267.39	99.77%	0.16%	0.06%	0.02%
9	Federal Bank	213.89	99.12%	0.23%	0.60%	0.05%
10	Punjab National Bank	211.61	99.14%	0.39%	0.28%	0.19%
11	Canara Bank	209.80	98.64%	0.43%	0.64%	0.29%
12	Kotak Mahindra Bank	187.61	97.12%	0.41%	1.47%	1.00%
13	Bank of India	148.54	99.60%	0.24%	0.11%	0.05%
14	Indian Bank	131.25	99.46%	0.24%	0.29%	0.00%
15	Airtel Payments Bank	116.09	98.12%	0.41%	1.13%	0.34%
16	INDUSIND BANK	94.66	99.06%	0.21%	0.50%	0.24%
17	Central Bank Of India	73.76	96.15%	0.61%	2.43%	0.81%
18	India Post Payment Bank	74.36	90.31%	0.55%	8.45%	0.68%
19	Indian Overseas Bank	59.10	98.95%	0.37%	0.39%	0.30%
20	UCO Bank	54.91	95.38%	0.70%	3.43%	0.49%
21	IDBI Bank Limited	52.30	99.00%	0.40%	0.42%	0.17%
22	IDFC FIRST Bank	41.95	98.48%	0.99%	0.39%	0.14%
23	Bank of Maharashtra	41.63	98.91%	0.24%	0.66%	0.19%
24	Karnataka Bank	34.46	97.41%	1.02%	1.56%	0.01%
25	Fino Payments Bank Limited	29.84	98.31%	0.59%	1.06%	0.04%
26	Karur Vysya Bank	26.95	99.47%	0.47%	0.06%	0.00%
27	South Indian Bank	24.87	99.79%	0.20%	0.01%	0.00%
28	Bandhan Bank	23.77	97.62%	0.48%	1.51%	0.39%
29	AU small Finance Bank	18.90	97.84%	1.03%	0.71%	0.42%
30	Tamilnad Mercantile Bank	15.01	99.74%	0.17%	0.07%	0.02%
31	City Union Bank	15.13	98.58%	0.78%	0.56%	0.08%
32	Ujjivan Small Finance Bank	14.42	99.25%	0.31%	0.31%	0.13%
33	Jammu and Kashmir Bank	13.75	97.11%	0.34%	2.25%	0.31%
34	Equitas Bank	11.38	97.57%	2.21%	0.21%	0.01%
35	Punjab and Sind Bank	10.97	97.58%	0.19%	1.90%	0.34%
36	RBL Bank	19.83	98.69%	0.56%	0.69%	0.06%
37	Kerala Gramin Bank	10.30	98.62%	0.20%	0.80%	0.38%
38	Pragathi Krishna Gramin Bank	10.09	97.81%	0.38%	1.11%	0.70%
39	Citibank	11.91	99.76%	0.00%	0.14%	0.10%
40	Andhra Pradesh Grameena Vikas Bank	9.79	93.82%	0.29%	5.40%	0.49%
41	DBS Bank India Limited	9.16	98.36%	1.40%	0.12%	0.12%
42	Maharashtra Gramin Bank	8.58	94.04%	0.38%	5.15%	0.44%
43	ESAF Small Finance Bank Ltd.	7.75	98.26%	0.12%	1.47%	0.15%
44	Baroda UP Gramin Bank	7.56	94.84%	1.03%	3.26%	0.87%
45	Rajasthan Marudhara Gramin Bank	7.36	96.52%	0.36%	2.49%	0.63%
46	Tri O Tech Solutions Private Limited PPI	7.47	93.15%	6.60%	0.23%	0.03%
47	Jio Payments Bank	6.50	99.17%	0.43%	0.15%	0.25%
48	Saraswat Bank	6.35	98.28%	0.19%	1.07%	0.46%
49	Sarva Haryana Gramin Bank	5.86	96.97%	0.45%	2.24%	0.34%
50	Andhra Pragathi Grameena Bank	6.09	92.97%	2.70%	4.10%	0.23%

Glossary

Business Decline (BD) - Transaction decline due to a customer entering an invalid pin, incorrect beneficiary account etc. Or due to other business reasons such as exceeding per transaction limit, exceeding permitted count of transactions per day, exceeding amount limit for the day etc. Such declined transactions are termed as Business Decline. Any decline which is not because of a technical reason of the bank or NPCI is termed as business Decline.
Technical Decline (TD) - Transaction decline due to technical reasons, such as unavailability of systems and network issues on bank or NPCI side.
The Debit Reversal Success percentage indicates the % of total cases, where a customer account may be debited and their bank is unable to confirm instantly about the status of reversal of such a debit. When reversal/credit is not processed instantly, it is processed manually by the bank as per the extant RBI guidelines.
Deemed Approved (Pending Credit Confirmation for UPI remittance transactions) - Deemed Approved percentage indicates the total percentage of cases of the total transactions, where credit confirmations are not received online from the beneficiary banks for the credit. If the beneficiary account is not credited online, transaction would be manually processed by the beneficiary bank as per the extant RBI guidelines.
Remitter - The account holder who is sending the money
Beneficiary - The account holder who is receiving money
Remitter Bank - The bank of the account holder who is sending the money
Beneficiary Bank - The bank of the account holder who is receiving money

UPI Apps (Jun'23)

UPI Apps (Jun'23)
Sr.No.	Application Name	Customer Initiated Transactions		B2C Transactions		B2B Transactions		On-us Transactions		Total
Sr.No.	Application Name	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
1	PhonePe	4,461.4	745,552.2	0.0	0.0	0.0	0.0			4,461.36	745,552.2
2	Google Pay	3,266.8	494,088.0	0.0	0.0	0.0	0.0			3,266.83	494,088.0
3	Paytm Payments Bank App	1,197.3	139,950.1	1.4	4.2	0.6	866.8	108.1	21,673.7	1,307.48	162,494.8
4	Cred	73.9	26,431.8	0.0	0.0	0.0	0.0			73.93	26,431.8
5	Amazon Pay	52.9	5,647.9	0.0	0.0	0.0	0.0			52.89	5,647.9
6	Axis Bank Apps	9.7	1,692.7	37.9	537.1	0.0	1.9			47.64	2,231.7
7	ICICI Bank Apps	27.1	8,599.3	4.8	338.0	5.7	7,306.5			37.63	16,243.7
8	Yes Bank Apps	35.8	12,721.8	0.0	0.0	0.7	275.6			36.46	12,997.5
9	BHIM	23.1	7,289.0	0.0	0.0	0.0	0.0			23.11	7,289.0
10	HDFC Bank Apps	17.6	4,168.6	0.0	0.0	0.0	0.0			17.56	4,168.6
11	Kotak Mahindra Bank Apps	17.4	3,202.5	0.0	0.0	0.0	0.0			17.38	3,202.5
12	WhatsApp	16.0	1,443.3	0.0	0.0	0.0	0.0			16.00	1,443.3
13	Fampay	15.0	184.7	0.0	0.0	0.0	0.0			14.99	184.7
14	Bajaj Finserv	9.8	1,312.6	0.0	0.0	0.0	0.0			9.76	1,312.6
15	Airtel Payments Bank Apps	8.8	632.1	0.0	0.0	0.0	0.0	0.0	0.1	8.84	632.2
16	IDFC Bank Apps	6.3	1,528.1	0.0	0.0	0.0	12.2			6.31	1,540.3
17	Samsung Pay	5.6	522.8	0.0	0.0	0.0	0.0			5.61	522.8
18	Federal Bank Apps	4.9	630.0	0.0	0.0	0.0	0.0			4.86	630.0
19	India Post Payments Bank Apps	4.8	742.5	0.0	0.0	0.0	0.0			4.83	742.5
20	State Bank of India Apps	4.6	1,959.3	0.0	0.0	0.0	0.4			4.64	1,959.7
21	Mobikwik	3.6	1,060.4	0.0	0.0	0.0	0.0			3.58	1,060.4
22	Jupiter	3.0	424.8	0.0	0.0	0.0	0.0			2.96	424.8
23	Deutsche Bank Apps	1.8	125.6	0.0	0.0	0.0	0.0			1.81	125.6
24	Canara Bank Apps	1.6	462.7	0.0	0.0	0.0	0.0			1.58	462.7
25	Groww	1.5	1,039.6	0.0	0.0	0.0	0.0			1.45	1,039.6
26	Standard Chartered Bank Apps	1.2	522.6	0.0	0.0	0.2	150.0			1.40	672.6
27	Jio Payments Bank Apps	1.4	113.2	0.0	0.0	0.0	0.0			1.35	113.2
28	RBL Bank Apps	1.1	493.4	0.0	0.0	0.2	4.4			1.29	497.9
29	Bank of Baroda Apps	1.2	427.6	0.0	0.0	0.0	0.1			1.19	427.7
30	slice	0.9	272.8	0.0	0.0	0.0	0.0			0.88	272.8
31	IndusInd Bank Apps	0.8	897.6	0.0	0.0	0.0	0.0			0.79	897.6
32	Union Bank Apps	0.8	318.9	0.0	0.0	0.0	0.0			0.79	318.9
33	Punjab National Bank Apps	0.8	169.7	0.0	0.0	0.0	0.0			0.77	169.7
34	AU Small Finance Bank Apps	0.6	196.1	0.0	0.0	0.0	0.0			0.64	196.1
35	Karnataka Bank Apps	0.6	125.9	0.0	0.0	0.0	0.0			0.61	125.9
36	OmniCard	0.5	13.9	0.0	0.0	0.0	0.0			0.48	13.9
37	Central Bank of India Apps	0.4	97.4	0.0	0.0	0.0	0.1			0.44	97.6
38	DBS Digibank Apps	0.4	166.9	0.0	0.0	0.0	0.0			0.41	166.9
39	UCO Bank Apps	0.3	107.6	0.0	0.0	0.0	0.0			0.33	107.6
40	Indian Bank Apps	0.3	80.2	0.0	0.0	0.0	1.1			0.28	81.2
41	South Indian Bank Apps	0.3	70.5	0.0	0.0	0.0	0.0			0.25	70.5
42	Bank of India Apps	0.2	71.9	0.0	0.0	0.0	0.0			0.23	71.9
43	Jupiter Edge (LivQuick PPI)	0.2	11.3	0.0	0.0	0.0	0.0			0.21	11.3
44	HSBC Bank Apps	0.2	89.1	0.0	0.1	0.0	0.0			0.15	89.2
45	Fino Payments bank Apps	0.1	9.2	0.0	0.0	0.0	0.0			0.13	9.2
46	TataNeu	0.1	17.6	0.0	0.0	0.0	0.0			0.12	17.6
47	Tamilnad Mercantile Bank Apps	0.1	18.9	0.0	0.0	0.0	0.0			0.08	18.9
48	IDBI Bank Apps	0.1	34.1	0.0	0.0	0.0	0.0			0.08	34.1
49	Citi Bank Apps	0.1	54.2	0.0	0.0	0.0	0.0			0.07	54.2
50	Fave	0.1	4.6	0.0	0.0	0.0	0.0			0.07	4.6
51	Bajaj Finserv PPI	0.1	14.3	0.0	0.0	0.0	0.0			0.07	14.3
52	PINELABS	0.1	4.2	0.0	0.0	0.0	0.0			0.07	4.2
53	City Union Bank Apps	0.1	18.3	0.0	0.0	0.0	0.0			0.06	18.3
54	Kiwi	0.1	4.1	0.0	0.0	0.0	0.0			0.05	4.1
55	Indian Overseas Bank Apps	0.0	13.0	0.0	0.0	0.0	0.0			0.05	13.0
56	Ultracash	0.0	3.1	0.0	0.0	0.0	0.0			0.04	3.1
57	Karur Vysya Bank Apps	0.0	14.0	0.0	0.0	0.0	0.0			0.04	14.0
58	MakeMyTrip	0.0	18.2	0.0	0.0	0.0	0.0			0.03	18.2
59	Punjab Sind Bank Apps	0.0	12.6	0.0	0.0	0.0	0.0			0.03	12.6
60	Dhani	0.0	7.0	0.0	0.0	0.0	0.0			0.03	7.0
61	Equitas Small Finance Bank Apps	0.0	17.3	0.0	0.0	0.0	0.0			0.03	17.3
62	Allahabad Bank Apps	0.0	8.3	0.0	0.0	0.0	0.0			0.03	8.3
63	NSDL Payments Bank Apps	0.0	4.1	0.0	0.0	0.0	0.0			0.02	4.1
64	GoNiyo PPI	0.0	0.5	0.0	0.0	0.0	0.0			0.02	0.5
65	Utkarsh Small Finance Bank Apps	0.0	6.3	0.0	0.0	0.0	0.0			0.02	6.3
66	Jammu and Kashmir Bank Apps	0.0	2.4	0.0	0.0	0.0	0.0			0.01	2.4
67	Bandhan Bank Apps	0.0	3.1	0.0	0.0	0.0	0.0			0.01	3.1
68	Zomato	0.0	1.7	0.0	0.0	0.0	0.0			0.01	1.7
69	Dhanlaxmi Bank Apps	0.0	3.2	0.0	0.0	0.0	0.0			0.01	3.2
70	Bank of Maharashtra Apps	0.0	0.8	0.0	0.0	0.0	0.0			0.01	0.8
71	Others	0.0	11.8	0.0	0.0	0.0	0.0	0.0	0.0	0.0	11.8

Note:-

App volume in table is basis the Payer App logic, i.e the financial transaction is attributed to the PSP in UPI on the Payer’s side.
All B2C (Business to Customer) & B2B (Business to Business) transactions is attributed to respective PSP .
From January 2021 onwards, ‘On-us Transactions’ in UPI that are not processed and settled through the UPI Central System is shown under ‘On-us Transactions’ column.
Apps which has volume less than 10,000 is included under ‘Other Apps’.
BHIM Volume is inclusive of *99# volume.
WhatsApp*: Maximum registered user base of hundred (100) million in UPI

UPI P2P and P2M Transactions

UPI P2P and P2M Transactions
Month	Total		P2P		P2M
Month	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
Jun'23	9,335.06	14,75,464.27	3,971.43	11,25,422.26	5,363.63	3,50,042.01

Glossary

P2P - P2P transactions are payments done by person to a person i.e. Peer to Peer Payments.
P2M - P2M transactions are payments done by person to a merchant i.e. Peer to Merchant Payments

UPI Payer PSP Performance

UPI Payer PSP Performance (Jun'23)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd	3,318.70	98.64%	0.04%	1.32%
2	Axis Bank Ltd	1,657.48	98.48%	0.01%	1.51%
3	ICICI Bank	1,416.23	98.58%	0.01%	1.42%
4	Paytm Payments Bank	1,219.59	98.34%	0.00%	1.66%
5	State Bank Of India	1,013.07	98.56%	0.00%	1.44%
6	HDFC Bank Ltd	747.72	98.03%	0.02%	1.95%
7	Kotak Mahindra Bank	17.76	97.88%	0.00%	2.12%
8	Fampay (PPI)	15.23	98.40%	0.00%	1.60%
9	Airtel Payments Bank	9.08	97.36%	0.04%	2.60%
10	IDFC FIRST Bank	6.53	98.37%	0.01%	1.62%
11	Federal Bank	4.98	97.55%	0.08%	2.37%
12	India Post Payment Bank	4.92	98.15%	0.01%	1.84%
13	RBL Bank	2.17	98.35%	0.01%	1.65%
14	Deutsche Bank	1.81	99.93%	0.00%	0.07%
15	Canara Bank	1.66	94.75%	0.01%	5.24%

UPI Payee PSP Performance (Jun'23)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd	3,265.06	99.75%	0.23%	0.01%
2	Paytm Payments Bank	2,305.56	99.60%	0.37%	0.03%
3	Axis Bank Ltd	1,096.89	99.42%	0.55%	0.03%
4	ICICI Bank	1,029.20	99.07%	0.89%	0.04%
5	HDFC Bank Ltd	468.94	99.14%	0.82%	0.04%
6	State Bank Of India	426.62	99.51%	0.45%	0.04%
7	Federal Bank	157.65	95.80%	3.46%	0.74%
8	IndusInd Bank	50.30	98.49%	0.79%	0.71%
9	Kotak Mahindra Bank	29.50	99.40%	0.36%	0.24%
10	Cosmos Bank	22.42	93.25%	6.34%	0.40%
11	IDFC FIRST Bank	21.66	84.43%	6.84%	8.73%
12	Airtel Payments Bank	15.90	98.11%	1.10%	0.79%
13	Canara Bank	10.97	98.90%	0.89%	0.21%
14	Indian Bank	10.35	96.83%	2.72%	0.45%
15	Citibank	9.80	99.18%	0.71%	0.12%

Glossary

Business Decline (BD) - Transaction decline due to a customer entering an invalid pin, incorrect beneficiary account etc. Or due to other business reasons such as exceeding per transaction limit, exceeding permitted count of transactions per day, exceeding amount limit for the day etc. Such declined transactions are termed as Business Decline. Any decline which is not because of a technical reason of the bank or NPCI is termed as business Decline.
Technical Decline (TD) - Transaction decline due to technical reasons, such as unavailability of systems and network issues on bank or NPCI side.
PSP - Payment Service Provider
Payer PSP - Under this function a bank can onboard a customer, create his/ her UPI ID, create device binding which is used as a first factor of Authentication, using this customer can enter their UPI PIN to approve a financial transaction or non-financial request where ever necessary.
Payee PSP - Under this function a bank can onboard a customer/merchant & allow them to receive money basis allocated UPI ID or raise a Collect request. It is also known as beneficiary PSP/resolving PSP.

UPI Merchant Category Classification - Jun 23

UPI Merchant Category-wise Classification - Jun'23
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5812	Eating places and restaurants
	4814	Telecommunication services, including local and long distance calls, credit card calls, calls through use of magnetic stripe reading telephones and faxes
	5814	Fast food restaurants
	5311	Department stores
	5541	Service stations (with or without ancillary services)
	5816	Digital Goods: Games
	5462	Bakeries
	5912	Drug stores and pharmacies
	6540	Debit card to wallet credit (Wallet top up)
Medium Transacting Categories	5451	Dairies
	4900	Utilities electric, gas, water and sanitary
	5813	Drinking places (alcoholic beverages) bars, taverns, night-clubs, cocktail lounges and discothques
	7299	Miscellaneous personal services not elsewhere classified
	7322	Debt collection agencies
	5331	Variety stores
	6012	Financial institutions merchandise and services
	5422	Freezer and locker meat provisioners
	5399	Miscellaneous general merchandise
	5137	Mens, womens and childrens uniforms and commercial clothing
All Other Categories	5732	Electronics shops
	5441	Candy, nut and confectionery shops
	6211	Securities brokers and dealers
	7230	Beauty and barber shops
	5262	Online Marketplaces
	9399	Government services not elsewhere classified
	4899	Cable and other pay television services
	5943	Stationery, office and school supply shops
	4121	Taxi-cabs and limousines
	Others

Glossary

Category classification is made in terms of Approved UPI transaction Volume.
High Transacting Categories: Top 10 MCCs
Medium Transacting Categories: Next 10 MCCs
All Other Categories: Next 9 MCCs along with all other MCCs clubbed under 'Others'
MCC Description is with reference to ISO 18245:2003 standard

UPI Top 50 Banks Performance (May'23)

UPI Remitter Banks - Top 50 Banks (May'23)
Sr. No.	UPI Remitter Banks (May-2023)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank Of India	2427.45	95.07%	4.50%	0.43%	8.41	96.08%
2	HDFC BANK LTD	834.13	96.07%	3.75%	0.18%	2.75	97.68%
3	Bank of Baroda	615.53	93.91%	5.52%	0.58%	2.08	93.52%
4	Union Bank of India	587.30	95.23%	4.27%	0.50%	2.06	72.49%
5	ICICI Bank	471.20	96.05%	3.03%	0.92%	2.23	89.78%
6	Punjab National Bank	455.13	94.58%	4.73%	0.69%	1.87	89.28%
7	Kotak Mahindra Bank	445.82	93.33%	4.94%	1.72%	1.07	83.34%
8	Canara Bank	433.19	93.94%	5.18%	0.87%	1.72	79.21%
9	Axis Bank Ltd.	427.56	95.98%	4.01%	0.02%	1.01	97.95%
10	Paytm Payments Bank	425.23	96.31%	3.67%	0.02%	0.66	96.72%
11	Bank of India	308.34	95.33%	4.15%	0.52%	0.91	84.80%
12	Indian Bank	257.31	94.56%	4.74%	0.70%	0.79	89.91%
13	Airtel Payments Bank	210.36	87.00%	11.94%	1.06%	0.64	63.63%
14	India Post Payment Bank	167.39	80.61%	15.66%	3.73%	0.63	68.11%
15	Central Bank Of India	150.03	90.06%	8.41%	1.53%	1.22	80.86%
16	Federal Bank	149.25	95.22%	4.71%	0.08%	0.37	97.23%
17	Indian Overseas Bank	121.85	94.43%	5.18%	0.39%	0.44	95.94%
18	IDBI Bank Limited	114.16	95.20%	3.90%	0.90%	0.47	84.51%
19	UCO Bank	112.87	93.87%	5.29%	0.84%	0.41	66.09%
20	Bank of Maharashtra	104.95	92.49%	5.04%	2.47%	0.36	50.66%
21	Yes Bank Ltd	94.89	96.33%	3.56%	0.11%	0.15	96.13%
22	INDUSIND BANK	91.30	93.76%	5.70%	0.54%	0.29	91.48%
23	Fino Payments Bank Limited FIP	81.88	82.85%	14.95%	2.21%	0.25	82.81%
24	Karnataka Bank	74.77	91.31%	6.20%	2.50%	0.20	80.02%
25	IDFC FIRST Bank	62.61	93.74%	5.39%	0.87%	0.18	62.55%
26	Karur Vysya Bank	47.89	92.00%	7.39%	0.61%	0.12	86.59%
27	Bandhan Bank	41.45	85.45%	11.64%	2.91%	0.26	55.71%
28	South Indian Bank	38.15	96.02%	3.92%	0.06%	0.08	96.85%
29	Jammu and Kashmir Bank	31.55	90.22%	6.87%	2.90%	0.15	52.76%
30	City Union Bank	27.91	92.84%	6.47%	0.69%	0.09	90.82%
31	AU small Finance Bank	26.71	94.11%	4.78%	1.11%	0.17	94.02%
32	Ujjivan Small Finance Bank	26.70	93.39%	5.96%	0.65%	0.08	64.57%
33	Equitas Bank	25.30	90.37%	9.35%	0.28%	0.07	96.62%
34	Tamilnad Mercantile Bank	23.92	93.46%	6.03%	0.51%	0.06	89.98%
35	Punjab and Sind Bank	23.51	84.29%	8.50%	7.21%	0.13	27.01%
36	DBS Bank India Limited	22.90	95.55%	4.03%	0.42%	0.05	72.77%
37	Standard Chartered	20.89	96.56%	2.46%	0.98%	0.07	83.45%
38	Andhra Pradesh Grameena Vikas Bank	19.66	81.99%	12.19%	5.82%	0.13	63.39%
39	Citibank	18.79	96.24%	3.33%	0.44%	0.06	97.76%
40	Maharashtra Gramin Bank	18.29	79.80%	11.39%	8.80%	0.05	28.67%
41	Saraswat Bank	17.68	95.93%	3.03%	1.04%	0.04	42.17%
42	Pragathi Krishna Gramin Bank	17.50	89.78%	9.71%	0.51%	0.06	95.23%
43	Kerala Gramin Bank	17.19	90.83%	8.56%	0.61%	0.07	94.55%
44	ESAF Small Finance Bank Ltd.	16.84	74.48%	24.33%	1.19%	0.04	70.94%
45	Rajasthan Marudhara Gramin Bank	15.87	76.51%	15.43%	8.06%	0.04	32.11%
46	Sarva Haryana Gramin Bank	12.82	87.28%	7.17%	5.55%	0.04	26.62%
47	Baroda UP Gramin Bank	12.32	78.88%	9.72%	11.40%	0.05	19.50%
48	RBL	12.10	92.31%	6.69%	0.99%	0.04	77.09%
49	Andhra Pragathi Grameena Bank	10.26	73.67%	16.48%	9.86%	0.02	17.82%
50	Fincare Small Finance Bank Ltd	9.89	85.75%	10.77%	3.48%	0.04	40.65%

UPI Top 50 Banks Performance (May'23)

UPI Beneficiary Banks - Top 50 Banks (May'23)
Sr.No.	UPI Beneficiary Banks (May-2023)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Paytm Payments Bank	2122.50	99.79%	0.20%	0.00%	0.01%
2	Yes Bank Ltd	1776.21	99.93%	0.02%	0.04%	0.01%
3	State Bank of India	1021.12	99.36%	0.24%	0.33%	0.06%
4	Axis Bank Ltd	664.41	99.90%	0.09%	0.01%	0.00%
5	ICICI Bank	624.05	98.76%	0.63%	0.39%	0.22%
6	HDFC BANK LTD	475.30	99.31%	0.57%	0.06%	0.07%
7	Bank of Baroda	278.65	99.10%	0.22%	0.61%	0.07%
8	Union Bank of India	271.63	99.54%	0.18%	0.17%	0.11%
9	Federal Bank	216.25	99.75%	0.23%	0.02%	0.00%
10	Punjab National Bank	212.79	99.15%	0.37%	0.22%	0.25%
11	Canara Bank	210.04	99.13%	0.19%	0.48%	0.19%
12	Kotak Mahindra Bank	203.15	97.77%	0.47%	1.04%	0.72%
13	Bank of India	151.38	98.35%	0.24%	1.32%	0.09%
14	Indian Bank	132.71	98.91%	0.30%	0.32%	0.48%
15	Airtel Payments Bank	116.47	98.56%	0.46%	0.71%	0.26%
16	INDUSIND BANK	93.00	98.89%	0.20%	0.50%	0.41%
17	Central Bank Of India	74.50	98.34%	0.66%	0.53%	0.47%
18	India Post Payment Bank	72.15	96.82%	0.48%	2.49%	0.21%
19	Indian Overseas Bank	59.63	99.06%	0.61%	0.14%	0.19%
20	UCO Bank	55.10	98.72%	0.68%	0.52%	0.08%
21	IDBI Bank Limited	53.37	98.81%	0.42%	0.60%	0.17%
22	IDFC FIRST Bank	43.30	97.88%	1.17%	0.77%	0.18%
23	Bank of Maharashtra	42.41	97.16%	0.34%	2.20%	0.31%
24	Karnataka Bank	34.08	96.45%	1.11%	2.39%	0.05%
25	RBL	33.53	99.89%	0.00%	0.00%	0.11%
26	Karur Vysya Bank	27.20	98.91%	0.43%	0.61%	0.06%
27	Fino Payments Bank Limited	27.08	97.40%	1.04%	1.49%	0.07%
28	South Indian Bank	25.43	99.75%	0.21%	0.04%	0.00%
29	Bandhan Bank	24.14	96.37%	0.15%	2.92%	0.56%
30	AU small Finance Bank	19.21	97.46%	1.41%	0.76%	0.37%
31	City Union Bank	15.13	98.54%	0.92%	0.44%	0.10%
32	Tamilnad Mercantile Bank	14.80	99.35%	0.23%	0.39%	0.02%
33	Ujjivan Small Finance Bank	14.27	99.11%	0.34%	0.41%	0.15%
34	Jammu and Kashmir Bank	12.63	97.86%	0.39%	1.67%	0.08%
35	Equitas Bank	11.91	96.70%	3.08%	0.21%	0.01%
36	Punjab and Sind Bank	10.91	93.48%	0.19%	5.47%	0.86%
37	Kerala Gramin Bank	10.06	99.27%	0.19%	0.33%	0.22%
38	Andhra Pradesh Grameena Vikas Bank	9.92	95.22%	0.53%	3.96%	0.29%
39	Pragathi Krishna Gramin Bank	9.74	99.25%	0.39%	0.16%	0.20%
40	DBS Bank India Limited	9.41	98.06%	1.54%	0.30%	0.10%
41	Maharashtra Gramin Bank	8.86	92.53%	0.87%	5.93%	0.67%
42	Baroda UP Gramin Bank	8.30	86.32%	2.00%	10.37%	1.31%
43	Rajasthan Marudhara Gramin Bank	7.82	91.18%	1.92%	6.45%	0.46%
44	ESAF Small Finance Bank Ltd.	7.62	98.86%	0.13%	0.89%	0.12%
45	Tri O Tech Solutions Private Limited	7.04	91.14%	8.66%	0.19%	0.01%
46	Saraswat Bank	6.44	98.71%	0.26%	0.71%	0.32%
47	Andhra Pragathi Grameena Bank	6.13	89.76%	0.33%	9.56%	0.35%
48	Sarva Haryana Gramin Bank	5.94	94.40%	0.46%	4.34%	0.80%
49	Jio Payments Bank	5.24	99.39%	0.46%	0.10%	0.04%
50	Baroda Rajasthan Kshetriya Gramin Bank	5.18	92.63%	2.65%	4.24%	0.48%

Glossary

Business Decline (BD) - Transaction decline due to a customer entering an invalid pin, incorrect beneficiary account etc. Or due to other business reasons such as exceeding per transaction limit, exceeding permitted count of transactions per day, exceeding amount limit for the day etc. Such declined transactions are termed as Business Decline. Any decline which is not because of a technical reason of the bank or NPCI is termed as business Decline.
Technical Decline (TD) - Transaction decline due to technical reasons, such as unavailability of systems and network issues on bank or NPCI side.
The Debit Reversal Success percentage indicates the % of total cases, where a customer account may be debited and their bank is unable to confirm instantly about the status of reversal of such a debit. When reversal/credit is not processed instantly, it is processed manually by the bank as per the extant RBI guidelines.
Deemed Approved (Pending Credit Confirmation for UPI remittance transactions) - Deemed Approved percentage indicates the total percentage of cases of the total transactions, where credit confirmations are not received online from the beneficiary banks for the credit. If the beneficiary account is not credited online, transaction would be manually processed by the beneficiary bank as per the extant RBI guidelines.
Remitter - The account holder who is sending the money
Beneficiary - The account holder who is receiving money
Remitter Bank - The bank of the account holder who is sending the money
Beneficiary Bank - The bank of the account holder who is receiving money

UPI Apps (May'23)

UPI Apps (May'23)
Sr.No.	Application Name	Customer Initiated Transactions		B2C Transactions		B2B Transactions		On-us Transactions		Total
Sr.No.	Application Name	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
1	Airtel Payments Bank Apps	9.17	627.09	0.00	0.00	0.00	0	0.00	0.08	9.17	627.17
2	Allahabad Bank Apps	0.03	8.87	0.00	0.00	0.00	0	0.00	0.00	0.03	8.87
3	Amazon Pay	57.08	5,772.68	0.00	0.00	0.00	0	0.00	0.00	57.08	5,772.68
4	AU Small Finance Bank Apps	0.65	193.87	0.00	0.00	0.00	0	0.00	0.00	0.65	193.87
5	Axis Bank Apps	10.19	1,697.23	37	217	0.03	3	0.00	0.00	47.38	1,916.44
6	Bajaj Finserv	9.12	1,189.82	0.00	0	0.00	0	0.00	0.00	9.12	1,189.82
7	Bank of Baroda Apps	1.11	412.02	0.00	0	0.00	0	0.00	0.00	1.11	412.03
8	Bank of India Apps	0.22	69.86	0.0	0	0.00	0	0.00	0.00	0.22	69.87
9	BHIM	22.96	7,209.87	0.00	0	0.00	0	0.00	0.00	22.96	7,209.87
10	BPAYWALLET	0.06	9.65	0.00	0	0.00	0	0.00	0.00	0.06	9.65
11	Canara Bank Apps	1.48	431.27	0.00	0	0.00	0	0.00	0.00	1.48	431.27
12	Central Bank of India Apps	0.43	95.52	0.00	0	0.00	0	0.00	0.00	0.43	95.58
13	Citi Bank Apps	0.09	55.38	0.00	0	0.00	0	0.00	0.00	0.09	55.38
14	City Union Bank Apps	0.06	20.02	0.00	0	0.00	0	0.00	0.00	0.06	20.02
15	Cointab	0.01	4.24	0.00	0	0.00	0	0.00	0.00	0.01	4.24
16	Cred	61.04	23,426.74	0.00	0	0.00	0	0.00	0.00	61.04	23,426.74
17	DBS Digibank Apps	0.42	174.75	0.00	0	0.00	0	0.00	0.00	0.42	174.75
18	Deutsche Bank Apps	1.89	174.25	0.00	0	0.00	0	0.00	0.00	1.89	174.27
19	DHANI	0.04	7.55	0.00	0	0.00	0	0.00	0.00	0.04	7.55
20	Dhanlaxmi Bank Apps	0.01	2.93	0.00	0	0.00	0	0.00	0.00	0.01	2.93
21	Equitas Small Finance Bank Apps	0.03	16.31	0.00	0	0.00	0	0.00	0.00	0.03	16.31
22	FAM	13.78	166.50	0.00	0	0.00	0	0.00	0.00	13.78	166.50
23	Fave	0.02	1.68	0.00	0	0.00	0	0.00	0.00	0.02	1.68
24	Federal Bank Apps	5.12	643.60	0.00	0	0.00	0	0.00	0.00	5.12	643.62
25	Fino Payments bank Apps	0.09	6.60	0.00	0	0.00	0	0.00	0.00	0.09	6.60
26	Google Pay	3,274.69	497,748.17	0.00	0	0.00	0	0.00	0.00	3,274.69	497,748.17
27	Groww	0.47	287.97	0.00	0	0.00	0	0.00	0.00	0.47	287.97
28	HDFC Bank Apps	16.07	3,979.33	0.00	0	0.00	3	0.00	0.00	16.07	3,982.69
29	HSBC Bank Apps	0.14	87.42	0.00	0	0.00	0	0.00	0.00	0.14	87.50
30	ICICI Bank Apps	33.59	9,965.41	5.23	380	5.09	6,755	0.00	0.00	43.92	17,101.09
31	IDBI Bank Apps	0.08	34.64	0	0	0.00	0	0.00	0.00	0.08	34.64
32	IDFC Bank Apps	8.52	1,688.60	0	0	0.04	7	0.00	0.00	8.56	1,696.01
33	India Post Payments Bank Apps	5.04	775.77	0	0	0.00	0	0.00	0.00	5.04	775.77
34	Indian Bank Apps	0.28	80.31	0	0	0.00	4	0.00	0.00	0.28	84.07
35	Indian Overseas Bank Apps	0.04	10.50	0	0	0.00	0	0.00	0.00	0.04	10.50
36	IndusInd Bank Apps	0.81	886.10	0	0	0.00	0	0.00	0.00	0.81	886.10
37	Jammu and Kashmir Bank Apps	0.01	2.00	0	0	0.00	0	0.00	0.00	0.01	2.00
38	Jio Payments Bank Apps	1.56	119.80	0	0	0.00	0	0.00	0.00	1.56	119.80
39	Jupiter	2.94	415.04	0	0	0.00	0	0.00	0.00	2.94	415.04
40	Akudo & Muvin (Livquik)	0.18	6.62	0	0	0.00	0	0.00	0.00	0.18	6.62
41	Karnataka Bank Apps	0.63	127.13	0	0	0.00	0	0.00	0.00	0.63	127.13
42	Karur Vysya Bank Apps	0.04	13.65	0	0	0.00	0	0.00	0.00	0.04	13.65
43	Kotak Mahindra Bank Apps	16.31	3,139.04	0	0	0.00	0	0.00	0.00	16.31	3,139.05
44	MakeMyTrip	0.02	8.01	0	0	0.00	0	0.00	0.00	0.02	8.01
45	Mobikwik	3.59	997.92	0	0	0.00	0	0.00	0.00	3.59	997.92
46	NSDL Payments Bank Apps	0.02	3.28	0	0	0.00	0	0.00	0.00	0.02	3.28
47	OMNI	0.39	10.10	0	0	0.00	0	0.00	0.00	0.39	10.10
48	Paytm Payments Bank App	1,229.38	142,291.76	3.95	7	0.56	887	108.39	21658.48884	1,342.28	164,843.79
49	PhonePe	4,499.20	757,276.68	0	0	0.00	0	0.00	0.00	4,499.20	757,276.68
50	PINELABS	0.06	3.25	0	0	0.00	0	0.00	0.00	0.06	3.25
51	Punjab National Bank Apps	1.10	177.63	0	0	0.00	0	0.00	0.00	1.10	177.69
52	Punjab Sind Bank Apps	0.04	13.71	0	0	0.00	0	0.00	0.00	0.04	13.71
53	RBL Bank Apps	1.06	484.53	0	0	0.18	5	0.00	0.00	1.24	489.36
54	RBLBANK	0.01	0.06	0	0	0.00	0	0.00	0.00	0.01	0.06
55	Samsung Pay	5.83	535.16	0	0	0.00	0	0.00	0.00	5.83	535.16
56	slice	0.83	194.68	0	0	0.00	0	0.00	0.00	0.83	194.68
57	South Indian Bank Apps	0.25	71.46	0	0	0.00	0	0.00	0.00	0.25	71.46
58	Standard Chartered Bank Apps	0.15	91.48	0	0	0.00	0	0.00	0.00	0.15	91.48
59	State Bank of India Apps	4.48	1,969.72	0	0	0.01	0	0.00	0.00	4.48	1,969.95
60	Tamilnad Mercantile Bank Apps	0.07	14.83	0	0	0.00	0	0.00	0.00	0.07	14.83
61	TataNeu	0.15	19.28	0	0	0.00	0	0.00	0.00	0.15	19.28
62	UCO Bank Apps	0.36	118.26	0	0	0.00	0	0.00	0.00	0.36	118.26
63	Ultracash	0.01	1.13	0	0	0.00	0	0.00	0.00	0.01	1.13
64	Union Bank Apps	0.76	306.93	0	0	0.00	0	0.00	0.00	0.76	306.93
65	Utkarsh Small Finance Bank Apps	0.02	6.81	0	0	0.00	0	0.00	0.00	0.02	6.81
66	WhatsApp	15.98	1,477.06	0	0	0.00	0	0.00	0.00	15.98	1,477.06
67	Yes Bank Apps	42.21	12,934.66	0	0	0.44	72	0.00	0.00	42.65	13,006.24
68	Zomato	0.01	0.43	0	0	0.00	0	0.00	0.00	0.01	0.43
69	Others	0.03	10.98	0.00	0.00	0.00	0.00	0.00	0.00	0.03	10.98

Note:-

App volume in table is basis the Payer App logic, i.e the financial transaction is attributed to the PSP in UPI on the Payer’s side.
All B2C (Business to Customer) & B2B (Business to Business) transactions is attributed to respective PSP .
From January 2021 onwards, ‘On-us Transactions’ in UPI that are not processed and settled through the UPI Central System is shown under ‘On-us Transactions’ column.
Apps which has volume less than 10,000 is included under ‘Other Apps’.
BHIM Volume is inclusive of *99# volume.
WhatsApp*: Maximum registered user base of hundred (100) million in UPI

UPI P2P and P2M Transactions

UPI P2P and P2M Transactions
Month	Total		P2P		P2M
Month	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
May'23	9,415.19	14,89,145.50	4,045.48	11,45,072.32	5,369.70	3,44,073.18

Glossary

P2P - P2P transactions are payments done by person to a person i.e. Peer to Peer Payments.
P2M - P2M transactions are payments done by person to a merchant i.e. Peer to Merchant Payments

UPI Payer PSP Performance

UPI Payer PSP Performance (May'23)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd	3,322.19	98.77%	1.22%	0.00%
2	ICICI Bank	1,732.56	98.78%	1.21%	0.00%
3	Axis Bank Ltd	1,340.63	98.51%	1.48%	0.00%
4	Paytm Payments Bank	1,257.01	98.16%	1.83%	0.01%
5	State Bank Of India	1,019.30	98.72%	1.27%	0.00%
6	HDFC Bank Ltd	773.58	98.74%	1.26%	0.00%
7	Kotak Mahindra Bank	16.61	98.15%	1.85%	0.00%
8	Fampay (PPI)	13.98	98.55%	1.45%	0.00%
9	Airtel Payments Bank	9.40	97.47%	2.51%	0.02%
10	IDFC FIRST Bank	8.71	98.76%	1.24%	0.00%
11	Federal Bank	5.35	95.86%	2.03%	2.11%
12	India Post Payment Bank	5.11	98.48%	1.51%	0.01%
13	RBL Bank	2.12	98.56%	1.44%	0.00%
14	Deutsche Bank	1.89	99.94%	0.06%	0.00%
15	Jio Payments Bank	1.63	95.92%	3.70%	0.38%

UPI Payee PSP Performance (May'23)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd	3,328.92	99.80%	0.18%	0.02%
2	Paytm Payments Bank	2,250.43	99.73%	0.26%	0.01%
3	Axis Bank Ltd	1,169.78	99.41%	0.57%	0.02%
4	ICICI Bank	1,053.11	99.23%	0.68%	0.09%
5	HDFC Bank Ltd	439.53	99.27%	0.69%	0.04%
6	State Bank Of India	398.39	99.45%	0.49%	0.06%
7	Federal Bank	154.48	98.81%	1.00%	0.18%
8	IndusInd Bank	47.25	98.23%	0.88%	0.89%
9	Kotak Mahindra Bank	40.28	99.32%	0.55%	0.12%
10	Cosmos Bank	24.05	95.12%	4.51%	0.37%
11	RBL Bank	28.27	99.66%	0.33%	0.02%
12	Airtel Payments Bank	18.61	97.38%	2.20%	0.42%
13	IDFC FIRST Bank	17.88	96.85%	2.02%	1.13%
14	Citibank	9.97	99.25%	0.71%	0.04%
15	Canara Bank	9.55	99.37%	0.57%	0.06%

Glossary

Business Decline (BD) - Transaction decline due to a customer entering an invalid pin, incorrect beneficiary account etc. Or due to other business reasons such as exceeding per transaction limit, exceeding permitted count of transactions per day, exceeding amount limit for the day etc. Such declined transactions are termed as Business Decline. Any decline which is not because of a technical reason of the bank or NPCI is termed as business Decline.
Technical Decline (TD) - Transaction decline due to technical reasons, such as unavailability of systems and network issues on bank or NPCI side.
PSP - Payment Service Provider
Payer PSP - Under this function a bank can onboard a customer, create his/ her UPI ID, create device binding which is used as a first factor of Authentication, using this customer can enter their UPI PIN to approve a financial transaction or non-financial request where ever necessary.
Payee PSP - Under this function a bank can onboard a customer/merchant & allow them to receive money basis allocated UPI ID or raise a Collect request. It is also known as beneficiary PSP/resolving PSP.

UPI Merchant Category Classification - May 23

UPI Merchant Category-wise Classification - May'23
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5812	Eating places and restaurants
	4814	Telecommunication services, including local and long distance calls, credit card calls, calls through use of magnetic stripe reading telephones and faxes
	5816	Digital Goods: Games
	5814	Fast food restaurants
	5311	Department stores
	5541	Service stations (with or without ancillary services)
	5462	Bakeries
	5912	Drug stores and pharmacies
	6540	Debit card to wallet credit (Wallet top up)
Medium Transacting Categories	5451	Dairies
	4900	Utilities electric, gas, water and sanitary
	5813	Drinking places (alcoholic beverages) bars, taverns, night-clubs, cocktail lounges and discothques
	7299	Miscellaneous personal services not elsewhere classified
	7322	Debt collection agencies
	5331	Variety stores
	5262	Online Marketplaces
	6012	Financial institutions merchandise and services
	5137	Mens, womens and childrens uniforms and commercial clothing
	5732	Electronics shops
All Other Categories	5422	Freezer and locker meat provisioners
	5399	Miscellaneous general merchandise
	5441	Candy, nut and confectionery shops
	7230	Beauty and barber shops
	6211	Securities brokers and dealers
	4899	Cable and other pay television services
	4784	Tolls and bridge fees
	4121	Taxi-cabs and limousines
	9399	Government services not elsewhere classified
	Others

Glossary

Category classification is made in terms of Approved UPI transaction Volume.
High Transacting Categories: Top 10 MCCs
Medium Transacting Categories: Next 10 MCCs
All Other Categories: Next 9 MCCs along with all other MCCs clubbed under 'Others'
MCC Description is with reference to ISO 18245:2003 standard

UPI Top 50 Banks Performance (Apr'23)

UPI Remitter Banks - Top 50 Banks (Apr'23)
Sr. No.	UPI Remitter Banks (Apr-2023)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank of India	2298.06	93.37%	4.69%	1.94%	8.38	95.68%
2	HDFC BANK LTD	797.45	96.04%	3.61%	0.35%	3.29	95.17%
3	Bank of Baroda	589.97	93.37%	6.35%	0.28%	1.98	98.94%
4	Union Bank of India	558.92	94.06%	4.40%	1.54%	3.01	66.96%
5	ICICI Bank	456.92	96.67%	3.02%	0.31%	3.06	63.74%
6	Punjab National Bank	429.32	94.35%	4.53%	1.12%	2.36	85.70%
7	Kotak Mahindra Bank	420.44	94.51%	4.95%	0.54%	3.72	89.86%
8	Axis Bank Ltd	419.45	95.75%	4.12%	0.13%	1.39	77.12%
9	Canara Bank	410.23	94.14%	5.33%	0.53%	4.63	80.40%
10	Paytm Payments Bank	403.18	96.01%	3.92%	0.07%	1.04	99.58%
11	Bank of India	298.42	95.51%	4.11%	0.38%	1.57	71.04%
12	Indian Bank	241.65	94.22%	5.42%	0.36%	1.20	78.64%
13	Airtel Payments Bank	203.03	84.88%	14.70%	0.43%	0.70	88.24%
14	India Post Payment Bank	170.07	68.79%	19.69%	11.52%	0.60	67.74%
15	Central Bank Of India	143.94	89.12%	8.58%	2.30%	2.05	59.35%
16	Federal Bank	140.58	95.05%	4.84%	0.11%	0.49	90.07%
17	Indian Overseas Bank	114.60	93.86%	5.10%	1.04%	0.80	76.12%
18	IDBI Bank Limited	108.52	93.92%	4.05%	2.03%	0.66	67.01%
19	UCO Bank	106.14	93.31%	5.79%	0.90%	0.51	74.33%
20	Bank of Maharashtra	101.34	92.88%	4.44%	2.68%	0.57	73.06%
21	INDUSIND BANK	86.38	93.87%	5.50%	0.63%	0.29	93.93%
22	Yes Bank Ltd	83.98	94.30%	5.18%	0.53%	0.32	0.00%
23	Fino Payments Bank Limited	77.30	81.79%	15.43%	2.78%	0.38

UPI Ecosystem Statistics

UPI

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UPI Top 50 Banks Performance (Oct'23)

UPI Top 50 Banks Performance (Oct'23)

Glossary

UPI Apps (Oct'23)

UPI P2P and P2M Transactions

Glossary

UPI Payer PSP Performance

Glossary

UPI Merchant Category Classification - Oct 23

Glossary

UPI Top 50 Banks Performance (Sep'23)

UPI Top 50 Banks Performance (Sep'23)

Glossary

UPI Apps (Sep'23)

UPI P2P and P2M Transactions

Glossary

UPI Payer PSP Performance

Glossary

UPI Merchant Category Classification - Sep 23

Glossary

UPI Top 50 Banks Performance (Aug'23)

UPI Top 50 Banks Performance (Aug'23)

Glossary

UPI Apps (Aug'23)

UPI P2P and P2M Transactions

Glossary

UPI Payer PSP Performance

Glossary

UPI Top 50 Banks Performance (Jul'23)

UPI Top 50 Banks Performance (Jul'23)

Glossary

UPI Apps (Jul'23)

UPI P2P and P2M Transactions

Glossary

UPI Payer PSP Performance

Glossary

UPI Merchant Category Classification - Jul 23

Glossary

UPI Top 50 Banks Performance (Jun'23)

UPI Top 50 Banks Performance (Jun'23)

Glossary

UPI Apps (Jun'23)

UPI P2P and P2M Transactions

Glossary

UPI Payer PSP Performance

Glossary

UPI Merchant Category Classification - Jun 23

Glossary

UPI Top 50 Banks Performance (May'23)

UPI Top 50 Banks Performance (May'23)

Glossary

UPI Apps (May'23)

UPI P2P and P2M Transactions

Glossary

UPI Payer PSP Performance

Glossary

UPI Merchant Category Classification - May 23

Glossary

UPI Top 50 Banks Performance (Apr'23)