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UPI Ecosystem Statistics

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UPI Top 50 Banks Performance (May'22)
UPI Remitter Banks - Top 50 Banks (May'22)
Sr. No. UPI Remitter Banks (May-2022) Total Volume (In Mn) Approved % BD % TD% Total Debit Reversal Count (In Mn) Debit Reversal Success %
1 State Bank Of India 1,644.91 90.26% 7.31% 2.44% 6.99 92.47%
2 HDFC Bank Ltd 532.02 94.20% 5.64% 0.16% 2.02 99.46%
3 Bank of Baroda 387.88 92.71% 6.70% 0.59% 2.42 89.41%
4 Union Bank of India 370.84 91.52% 8.15% 0.34% 1.82 76.68%
5 ICICI Bank 342.09 94.87% 4.86% 0.27% 1.27 93.47%
6 Paytm Payments Bank 323.77 95.66% 4.32% 0.02% 0.87 99.47%
7 Axis Bank Ltd 316.26 95.52% 4.31% 0.17% 1.15 84.06%
8 Punjab National Bank 277.91 93.01% 6.30% 0.69% 1.58 91.79%
9 Canara Bank 266.56 88.78% 8.43% 2.80% 2.72 82.93%
10 Kotak Mahindra Bank 247.84 92.40% 5.56% 2.03% 2.45 93.51%
11 Bank of India 215.62 94.52% 5.25% 0.23% 0.92 89.37%
12 Indian Bank 150.62 92.45% 6.76% 0.79% 0.84 77.52%
13 Central Bank Of India 115.32 91.43% 5.97% 2.60% 1.62 56.85%
14 Federal Bank 93.99 93.29% 6.05% 0.66% 0.44 90.03%
15 Airtel Payments Bank 87.23 85.92% 12.33% 1.75% 0.67 79.05%
16 IDBI Bank Limited 83.34 94.58% 4.95% 0.47% 0.37 92.21%
17 India Post Payment Bank 78.09 76.77% 21.86% 1.36% 0.47 71.11%
18 Indian Overseas Bank 76.31 93.81% 5.94% 0.25% 0.30 99.06%
19 Bank of Maharashtra 75.56 93.87% 5.53% 0.60% 0.33 92.23%
20 Yes Bank Ltd 68.85 92.20% 7.42% 0.38% 0.09 0.00%
21 UCO Bank 66.20 92.44% 6.39% 1.17% 0.48 66.56%
22 Karnataka Bank 55.32 86.83% 7.32% 5.85% 0.82 20.35%
23 IndusInd Bank 52.03 91.19% 7.86% 0.95% 0.32 76.78%
24 IDFC FIRST Bank 37.03 91.50% 6.28% 2.22% 0.33 36.64%
25 Karur Vysya Bank 35.28 91.70% 7.90% 0.40% 0.13 89.39%
26 Fino Payments Bank 34.39 84.30% 12.85% 2.85% 0.38 61.58%
27 Bandhan Bank 26.80 80.41% 16.72% 2.87% 0.16 60.61%
28 South Indian Bank 24.34 91.97% 5.47% 2.56% 0.18 91.10%
29 Equitas Small Finance Bank 18.85 83.81% 15.22% 0.97% 0.11 78.92%
30 City Union Bank 18.71 90.94% 8.13% 0.93% 0.08 92.19%
31 Citibank 17.12 94.76% 4.54% 0.70% 0.04 99.80%
32 DBS Bank Ltd 16.12 95.24% 4.65% 0.11% 0.05 95.20%
33 Ujjivan Small Finance Bank 15.98 86.86% 7.48% 5.66% 0.25 33.14%
34 Standard Chartered 15.74 96.48% 3.08% 0.44% 0.08 97.76%
35 Jammu and Kashmir Bank 15.30 86.08% 9.57% 4.35% 0.17 57.38%
36 Tamilnad Mercantile Bank 14.92 90.69% 7.99% 1.32% 0.10 31.10%
37 Andhra Pradesh Grameena Vikas Bank 14.75 72.60% 16.91% 10.49% 0.44 0.00%
38 AU small Finance Bank 14.66 92.79% 6.48% 0.73% 0.10 0.04%
39 Punjab and Sind Bank 14.58 88.87% 10.77% 0.36% 0.08 86.89%
40 Pragathi Krishna Gramin Bank 14.32 82.03% 11.60% 6.37% 0.26 45.20%
41 Maharashtra Gramin Bank 13.74 76.12% 18.64% 5.23% 0.11 20.17%
42 Saraswat Bank 12.28 94.59% 4.12% 1.30% 0.06 67.34%
43 Rajasthan Marudhara Gramin Bank 9.25 75.96% 14.11% 9.93% 0.27 0.00%
44 ESAF Small Finance Bank Ltd. 9.11 81.98% 17.02% 1.00% 0.03 82.07%
45 Andhra Pragathi Grameena Bank 9.05 71.42% 19.62% 8.96% 0.29 6.14%
46 Kerala Gramin Bank 8.98 84.87% 11.83% 3.29% 0.10 58.80%
47 Sarva Haryana Gramin Bank 8.05 85.34% 8.17% 6.49% 0.09 17.33%
48 RBL Bank 7.34 89.18% 8.29% 2.53% 0.04 76.76%
49 Baroda Rajasthan Kshetriya Gramin Bank 7.20 75.01% 7.83% 17.16% 0.26 18.46%
50 Karnataka Vikas Grameena Bank 6.45 81.76% 15.27% 2.97% 0.10 12.70%
UPI Top 50 Banks Performance (May'22)
UPI Beneficiary Banks - Top 50 Banks (May'22)
Sr.No. UPI Beneficiary Banks (May-2022) Total Volume (In Mn) Approved % BD% TD% Deemed Approved %
1 Paytm Payments Bank 1363.19 99.65% 0.35% 0.01% 0.00%
2 Yes Bank Ltd 811.13 99.92% 0.04% 0.03% 0.01%
3 State Bank Of India 771.93 98.35% 0.29% 1.13% 0.23%
4 Axis Bank Ltd 450.07 99.75% 0.17% 0.05% 0.03%
5 ICICI Bank 432.00 99.42% 0.41% 0.09% 0.08%
6 HDFC Bank Ltd 299.84 99.10% 0.79% 0.07% 0.04%
7 Bank of Baroda 204.05 99.32% 0.34% 0.16% 0.19%
8 Union Bank of India 197.66 99.46% 0.35% 0.13% 0.06%
9 Canara Bank 146.64 96.56% 0.50% 2.48% 0.45%
10 Punjab National Bank 144.15 98.62% 0.49% 0.64% 0.24%
11 Kotak Mahindra Bank 127.46 98.22% 0.53% 0.76% 0.49%
12 Bank of India 118.62 99.53% 0.28% 0.15% 0.04%
13 Federal Bank 118.00 99.15% 0.19% 0.62% 0.05%
14 Indian Bank 77.67 99.05% 0.31% 0.42% 0.22%
15 IndusInd Bank 65.03 99.01% 0.37% 0.48% 0.14%
16 Airtel Payments Bank 64.05 98.64% 0.37% 0.78% 0.21%
17 Central Bank Of India 61.92 97.81% 0.58% 1.17% 0.44%
18 IDBI Bank Limited 46.38 98.63% 1.16% 0.17% 0.04%
19 Indian Overseas Bank 42.90 99.56% 0.35% 0.02% 0.07%
20 UCO Bank 37.05 98.30% 0.52% 0.88% 0.30%
21 Bank of Maharashtra 36.70 99.02% 0.26% 0.42% 0.30%
22 India Post Payment Bank 34.53 98.29% 0.59% 0.92% 0.20%
23 Karnataka Bank 29.40 94.52% 0.68% 3.78% 1.02%
24 Karur Vysya Bank 23.22 99.34% 0.35% 0.27% 0.04%
25 IDFC FIRST Bank 22.98 96.67% 1.05% 1.74% 0.54%
26 South Indian Bank 17.22 97.21% 0.40% 2.33% 0.06%
27 Bandhan Bank 16.78 97.46% 0.52% 1.88% 0.14%
28 Fino Payments Bank 13.92 95.24% 2.39% 2.19% 0.18%
29 AU small Finance Bank 13.00 97.46% 1.88% 0.48% 0.19%
30 Citibank 12.03 99.24% 0.57% 0.20% 0.00%
31 City Union Bank 11.37 98.62% 0.77% 0.54% 0.07%
32 Tamilnad Mercantile Bank 9.61 98.72% 0.26% 0.72% 0.29%
33 Equitas Small Finance Bank 9.41 97.94% 1.29% 0.64% 0.13%
34 Ujjivan Small Finance Bank 9.40 94.32% 0.31% 4.54% 0.83%
35 Pragathi Krishna Gramin Bank 8.20 95.70% 0.31% 2.92% 1.07%
36 Andhra Pradesh Grameena Vikas Bank 7.55 93.36% 0.17% 5.46% 1.01%
37 Punjab and Sind Bank 7.54 99.38% 0.31% 0.24% 0.07%
38 Maharashtra Gramin Bank 6.84 94.21% 0.87% 4.74% 0.18%
39 DBS Bank Ltd 6.59 98.38% 1.52% 0.04% 0.07%
40 Jammu and Kashmir Bank 6.46 95.12% 2.00% 2.80% 0.08%
41 Kerala Gramin Bank 5.92 97.64% 0.34% 1.46% 0.57%
42 Saraswat Bank 5.58 98.57% 0.19% 1.14% 0.10%
43 RBL Bank 5.39 96.72% 1.34% 1.85% 0.09%
44 ESAF Small Finance Bank Ltd. 5.17 99.13% 0.25% 0.56% 0.06%
45 Rajasthan Marudhara Gramin Bank 5.07 91.04% 2.20% 5.64% 1.12%
46 Andhra Pragathi Grameena Bank 5.03 91.38% 0.20% 6.18% 2.24%
47 Sarva Haryana Gramin Bank 4.42 86.49% 0.56% 10.70% 2.25%
48 Baroda Rajasthan Kshetriya Gramin Bank 4.23 84.27% 1.94% 12.12% 1.67%
49 Baroda UP Gramin Bank 4.13 91.79% 3.61% 4.36% 0.23%
50 Standard Chartered 3.61 99.34% 0.37% 0.29% 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 (May'22)
UPI Apps (May'22)
Sr.No. Application Name Customer Initiated Transactions B2C Transactions B2B Transactions On-us Transactions Total
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 6.10 486.55 - - 0.00 0.00 0.00 0.07 6.11 486.62
2 Allahabad Bank Apps 0.02 6.25 - - - - - - 0.02 6.25
3 Amazon Pay 74.83 6,954.18 - - - - - - 74.83 6,954.18
4 AU Small Finance Bank Apps 0.35 107.22 - - - - - - 0.35 107.22
5 Axis Bank Apps 7.46 1,372.31 51.14 48.08 0.06 4.77 - - 58.66 1,425.16
6 Bajaj Finserv 0.79 58.53 - - - - - - 0.79 58.53
7 Bank of Baroda Apps 0.88 406.79 - - 0.00 0.00 - - 0.88 406.79
8 Bank of India Apps 0.12 40.04 - - - - - - 0.12 40.04
9 Bank of Maharashtra Apps 0.06 16.47 - - - - - - 0.06 16.47
10 BHIM 26.57 9,559.66 - - - - - - 26.57 9,559.66
11 Canara Bank Apps 0.33 114.09 - - - - - - 0.33 114.09
12 Central Bank of India Apps 0.15 55.40 - - - - - - 0.15 55.40
13 Citi Bank Apps 0.13 78.71 - - 0.00 0.00 - - 0.13 78.71
14 City Union Bank Apps 0.03 10.06 - - - - - - 0.03 10.06
15 Cointab 0.06 23.77 - - - - - - 0.06 23.77
16 Cred 13.89 18,174.61 - - - - - - 13.89 18,174.61
17 DBS Digibank Apps 0.47 186.33 - - - - - - 0.47 186.33
18 Deutsche Bank Apps 1.64 116.54 - - 0.00 0.00 - - 1.64 116.55
19 Dhanlaxmi Bank Apps 0.01 3.35 - - - - - - 0.01 3.35
20 Fave 0.10 6.12 - - - - - - 0.10 6.12
21 Federal Bank Apps 3.42 474.12 - - - - - - 3.42 474.12
22 Fino Payments bank Apps 0.04 3.83 - - - - - - 0.04 3.83
23 Finserv Markets 0.01 1.01 - - - - - - 0.01 1.01
24 Finshell Pay 0.09 4.68 - - - - - - 0.09 4.68
25 GoIbibo 0.01 2.41 - - - - - - 0.01 2.41
26 Google Pay 2,079.92 365,989.27 - - - - - - 2,079.92 365,989.27
27 Groww 0.51 335.28 - - - - - - 0.51 335.28
28 HDFC Bank Apps 6.95 1,981.11 - - - - - - 6.95 1,981.11
29 HSBC Bank Apps 0.10 63.07 0.00 0.10 0.00 0.00 - - 0.10 63.17
30 ICICI Bank Apps 32.75 9,221.65 2.01 120.93 2.82 1,714.32 - - 37.59 11,056.90
31 IDBI Bank Apps 0.03 18.48 - - - - - - 0.03 18.48
32 IDFC Bank Apps 4.75 626.34 - - 0.00 0.00 - - 4.75 626.34
33 India Post Payments Bank Apps 3.10 351.88 - - - - - - 3.10 351.88
34 Indian Bank Apps 0.16 53.11 - - 0.00 0.02 - - 0.16 53.13
35 Indian Overseas Bank Apps 0.01 2.35 - - - - - - 0.01 2.35
36 IndusInd Bank Apps 1.01 1,711.21 - - - - - - 1.01 1,711.21
37 Janata Sahakari Bank Apps 0.01 4.79 - - - - - - 0.01 4.79
38 Jio Payments Bank Apps 2.08 127.88 - - - - - - 2.08 127.88
39 Jupiter 1.79 215.44 - - - - - - 1.79 215.44
40 Jupiter Edge (LivQuick PPI) 0.10 5.74 - - - - - - 0.10 5.74
41 Karnataka Bank Apps 0.33 40.34 - - - - - - 0.33 40.34
42 Karur Vysya Bank Apps 0.04 17.69 - - - - - - 0.04 17.69
43 Kotak Mahindra Bank Apps 8.50 1,882.81 - - 0.00 2.19 - - 8.50 1,885.00
44 MakeMyTrip 0.09 43.26 - - - - - - 0.09 43.26
45 MI Pay 0.20 33.90 - - - - - - 0.20 33.90
46 Mobikwik 2.46 397.70 - - - - - - 2.46 397.70
47 NSDL Payments Bank Apps 0.02 2.39 - - - - - - 0.02 2.39
48 Paytm Payments Bank App 780.87 91,546.50 3.66 5.96 0.19 224.61 102.73 16,499.70 887.45 108,276.78
49 PhonePe 2,778.75 511,028.81 - - - - - - 2,778.75 511,028.81
50 Punjab National Bank Apps 0.09 43.77 - - - - - - 0.09 43.77
51 Punjab Sind Bank Apps 0.01 6.39 - - - - - - 0.01 6.39
52 RBL Bank Apps 0.32 124.01 - - 0.05 1.38 - - 0.38 125.39
53 Samsung Pay 4.11 490.30 - - - - - - 4.11 490.30
54 South Indian Bank Apps 0.14 49.73 - - - - - - 0.14 49.73
55 Standard Chartered Bank Apps 0.13 70.48 - - 0.00 0.00 - - 0.13 70.48
56 State Bank of India Apps 4.18 2,195.66 - - 0.00 0.00 - - 4.18 2,195.66
57 Tamilnad Mercantile Bank Apps 0.01 1.13 - - - - - - 0.01 1.13
58 TataNeu 0.22 30.33 - - - - - - 0.22 30.33
59 UCO Bank Apps 0.22 46.39 - - - - - - 0.22 46.39
60 Ultracash 0.05 4.40 - - - - - - 0.05 4.40
61 Union Bank Apps 0.45 211.85 - - - - - - 0.45 211.85
62 Utkarsh Small Finance Bank Apps 0.01 4.43 - - - - - - 0.01 4.43
63 WhatsApp 3.48 294.98 - - - - - - 3.48 294.98
64 Yes Bank Apps 38.19 10,760.55 0.00 0.00 1.50 999.61 - - 39.69 11,760.16
65 YuvaPay 0.04 88.95 - - - - - - 0.04 88.95
66 Others 0.03 10.70 - - - - - - 0.03 10.70

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 forty (40) million in UPI
UPI Payer PSP Performance
UPI Payer PSP Performance (May'22)
Sr. No. Payer PSP Total Volume (In Mn) Approved % BD % TD %
1 Yes Bank Ltd 2,261.47 98.37% 1.61% 0.02%
2 Axis Bank Ltd 970.33 98.49% 1.49% 0.02%
3 Paytm Payments Bank 798.33 98.30% 1.68% 0.03%
4 ICICI Bank 780.66 98.49% 1.49% 0.02%
5 State Bank Of India 631.19 98.40% 1.58% 0.03%
6 HDFC Bank Ltd 544.25 98.86% 1.12% 0.02%
7 BHIM 29.08 91.38% 8.58% 0.04%
8 Kotak Mahindra Bank 8.80 96.59% 3.41% 0.00%
9 Airtel Payments Bank 6.39 95.48% 4.35% 0.17%
10 IDFC FIRST Bank 5.16 94.93% 5.06% 0.01%
11 Federal Bank 3.58 97.16% 2.82% 0.02%
12 India Post Payment Bank 3.32 93.65% 6.31% 0.04%
13 Jio Payments Bank 2.18 95.37% 4.03% 0.60%
14 Deutsche Bank 1.64 99.95% 0.05% 0.00%
15 IndusInd Bank 1.05 98.55% 1.44% 0.02%
UPI Payee PSP Performance (May'22)
Sr. No. Payer PSP Total Volume (In Mn) Approved % BD % TD %
1 Yes Bank Ltd 2,209.13 99.30% 0.64% 0.06%
2 Paytm Payments Bank 1,306.69 99.64% 0.35% 0.01%
3 Axis Bank Ltd 720.69 99.31% 0.43% 0.26%
4 ICICI Bank 631.63 99.61% 0.31% 0.08%
5 HDFC Bank Ltd 302.88 99.31% 0.60% 0.10%
6 State Bank Of India 295.44 99.15% 0.41% 0.43%
7 Federal Bank 72.78 96.44% 2.94% 0.63%
8 IndusInd Bank 38.48 97.26% 1.59% 1.15%
9 Kotak Mahindra Bank 27.06 98.71% 0.62% 0.67%
10 Airtel Payments Bank 14.81 98.76% 0.56% 0.68%
11 Citibank 9.52 99.46% 0.52% 0.02%
12 BHIM 9.00 96.35% 2.17% 1.48%
13 IDFC FIRST Bank 7.17 97.84% 0.80% 1.36%
14 Bank of Baroda 5.73 98.46% 1.51% 0.03%
15 AU small Finance Bank 3.95 99.52% 0.33% 0.15%

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 P2P and P2M Transactions
UPI P2P and P2M Transactions
Month Total P2P P2M
Volume (Mn) Value (Cr) Volume (Mn) Value (Cr) Volume (Mn) Value (Cr)
May'22 5,955.20 10,41,520.07 3,408.55 8,27,153.68 2,546.65 2,14,366.39

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
List of Banks live on Unified Dispute & Issue Resolution (UDIR) - May 22
Sr. No. Name of Banks #
1 Axis Bank Ltd.
2 Bank of Baroda
3 Canara Bank
4 Central Bank Of India
5 City Union Bank
6 Dhanlaxmi Bank Ltd
7 Equitas Bank
8 Federal Bank
9 Fincare Small Finance Bank Ltd
10 HSBC
11 ICICI Bank
12 Indian Bank
13 INDUSIND BANK
14 Karur Vysya Bank
15 Kerala Gramin Bank
16 Pragathi Krishna Gramin Bank
17 Punjab and Sind Bank
18 Rajgurunagar Sahakar
19 Shivalik Mercantile Co-operative Bank Ltd
20 South Indian Bank
21 Standard Chartered
22 Suryoday Small Finance Bank Ltd.
23 SVC Co-operative bank ltd
24 The Commercial Coop Bank Limited Kolhapur.
25 UCO Bank

Note:

# These are list of banks live on UDIR (i.e. for status update & credit/ reversal processing for pending transactions) in the current month

List of APPs live on Unified Dispute & Issue Resolution (UDIR) - May 22
Sr. No. Name of APP #
1 Axis Bank APP
2 Citibank APP
3 Canara Bank APP
4 Federal Bank APP
5 Jio Payments Bank APP
6 HSBC Bank APP
7 Standard Chartered Bank APP
8 BHIM APP
9 Gpay (Live on HDFC handle)

Note:

# List of APPs live for checking the status of Transaction/complaint and raising complaints under UDIR