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UPI Ecosystem Statistics

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UPI Top 30 Banks Performance (January'21)
UPI Remitter Banks - Top 30 Banks (January'21)
Sr. No. UPI Remitter Banks Total Volume (In Mn) Approved % BD % TD % Total Debit Reversal Count (In Mn) Debit Reversal Success %
1 State Bank Of India 664.75 91.73% 6.83% 1.44% 9.19 98.04%
2 HDFC BANK LTD 206.65 94.03% 4.62% 1.35% 2.29 94.83%
3 Axis Bank Ltd. 173.38 96.39% 3.51% 0.10% 1.06 87.20%
4 ICICI Bank 152.06 92.81% 5.22% 1.97% 2.79 51.74%
5 Paytm Payments Bank 145.61 91.85% 8.10% 0.05% 1.24 96.80%
6 Bank of Baroda 126.31 91.48% 8.04% 0.47% 1.19 98.00%
7 Punjab National Bank 118.43 90.22% 8.13% 1.66% 2.34 54.16%
8 Union Bank of India 85.95 79.75% 7.36% 12.89% 6.05 26.29%
9 Bank of India 82.24 93.02% 6.46% 0.51% 0.93 77.87%
10 Canara Bank 81.70 81.13% 16.74% 2.14% 1.93 87.68%
11 Kotak Mahindra Bank 77.16 93.18% 6.37% 0.45% 0.88 96.69%
12 Andhra Bank 56.64 78.09% 11.51% 10.40% 3.08 44.84%
13 Central Bank Of India 50.57 91.81% 7.57% 0.62% 0.75 93.02%
14 Indian Bank 47.13 80.15% 10.02% 9.83% 1.68 20.01%
15 IDBI Bank Limited 36.09 94.24% 5.58% 0.18% 0.38 91.95%
16 Bank of Maharashtra 30.11 91.82% 7.89% 0.29% 0.19 91.68%
17 Indian Overseas Bank 26.87 90.17% 8.81% 1.02% 0.55 88.21%
18 Karnataka Bank 25.46 84.61% 13.29% 2.10% 0.48 51.12%
19 Federal Bank 24.88 92.71% 5.79% 1.50% 0.45 80.11%
20 Yes Bank Ltd 24.84 96.00% 3.67% 0.33% 0.10 90.32%
21 UCO Bank 23.81 90.00% 9.67% 0.33% 0.26 86.51%
22 Airtel Payments Bank 23.49 85.68% 13.36% 0.96% 0.25 92.93%
23 Syndicate Bank 22.49 86.86% 12.25% 0.89% 0.35 81.38%
24 Allahabad Bank 19.90 84.13% 14.52% 1.36% 0.28 64.60%
25 INDUSIND BANK 19.48 93.75% 6.04% 0.21% 0.17 91.90%
26 Karur Vysya Bank 14.37 89.30% 9.71% 0.98% 0.27 81.19%
27 IDFC FIRST Bank 11.91 90.52% 8.36% 1.12% 0.17 53.23%
28 Citibank 10.75 94.64% 3.74% 1.62% 0.08 97.85%
29 DBS Bank India Limited 10.00 95.01% 4.85% 0.14% 0.08 84.49%
30 South Indian Bank 9.22 91.83% 7.80% 0.37% 0.10 87.35%
UPI Top 30 Banks Performance (January'21)
UPI Beneficiary Banks - Top 30 Banks (January'21)
Sr.No. UPI Beneficiary Banks Total Volume (In Mn) Approved % BD% TD% Deemed Approved %
1 Paytm Payments Bank 368.90 99.19% 0.78% 0.03% 0.01%
2 State Bank Of India 354.61 97.59% 0.82% 1.52% 0.07%
3 Yes Bank Ltd 273.95 99.84% 0.14% 0.01% 0.01%
4 ICICI Bank 237.59 97.93% 0.83% 0.86% 0.38%
5 Axis Bank Ltd. 207.61 99.44% 0.48% 0.01% 0.07%
6 HDFC BANK LTD 138.37 95.69% 2.78% 1.43% 0.10%
7 Bank of Baroda 73.53 98.94% 0.77% 0.10% 0.20%
8 Punjab National Bank 66.17 98.13% 1.08% 0.65% 0.13%
9 Federal Bank 54.05 99.42% 0.14% 0.37% 0.08%
10 Kotak Mahindra Bank 49.77 97.80% 1.80% 0.04% 0.36%
11 Bank of India 49.62 98.27% 1.08% 0.45% 0.21%
12 Canara Bank 49.52 96.38% 1.37% 1.11% 1.13%
13 Union Bank of India 45.35 92.21% 1.87% 3.08% 2.84%
14 Andhra Bank 33.60 85.10% 9.63% 2.67% 2.60%
15 Central Bank Of India 29.89 98.29% 1.16% 0.04% 0.51%
16 Indian Bank 26.98 92.06% 0.79% 5.50% 1.65%
17 INDUSIND BANK 26.52 97.32% 1.09% 0.05% 1.55%
18 IDBI Bank Limited 22.79 95.69% 4.21% 0.05% 0.05%
19 Airtel Payments Bank 21.52 96.72% 2.83% 0.35% 0.10%
20 Indian Overseas Bank 16.81 97.90% 1.05% 0.48% 0.56%
21 Bank of Maharashtra 16.62 98.96% 0.50% 0.42% 0.12%
22 Syndicate Bank 16.58 81.65% 9.57% 8.65% 0.14%
23 Karnataka Bank 16.03 94.21% 2.10% 3.18% 0.51%
24 UCO Bank 14.80 97.86% 1.62% 0.40% 0.12%
25 Allahabad Bank 12.73 96.80% 2.08% 0.86% 0.26%
26 Karur Vysya Bank 10.60 98.11% 1.24% 0.41% 0.25%
27 IDFC FIRST Bank 7.47 97.39% 1.76% 0.26% 0.59%
28 South Indian Bank 6.77 97.27% 2.38% 0.31% 0.04%
29 Bandhan Bank 6.22 97.48% 1.34% 1.02% 0.16%
30 CITI 5.94 99.90% 0.10% 0.00% 0.00%

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 (January'21)
UPI Apps (January'21)
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 PhonePe 968.72 1,91,973.77 - - - - - - 968.72 1,91,973.77
2 Google Pay 853.53 1,77,791.47 - - - - - - 853.53 1,77,791.47
3 Paytm Payments Bank App 281.18 33,909.50 3.52 5.59 - - 47.99 3,930.67 332.69 37,845.76
4 Axis Bank Apps 5.23 560.70 66.73 57.74 - - - - 71.96 618.44
5 Amazon Pay 46.30 4,044.38 - - - - - - 46.30 4,044.38
6 BHIM 23.38 7,462.94 - - - - - - 23.38 7,462.94
7 Yes Bank Apps 14.78 3,207.95 0.0019 0.003 - - - - 14.78 3,207.95
8 ICICI Bank Apps 6.22 1,835.97 4.24 148.10 - - - - 10.46 1,984.07
9 State Bank of India Apps 4.29 2,358.82 - - - - - - 4.29 2,358.82
10 Cred 4.08 4,247.83 - - - - - - 4.08 4,247.83
11 Airtel Payments Bank Apps 3.71 355.77 - - - - - - 3.71 355.77
12 Mobikwik 1.94 253.16 - - - - - - 1.94 253.16
13 Kotak Mahindra Bank Apps 1.88 343.38 - - - - - - 1.88 343.38
14 IndusInd Bank App 1.82 367.77 - - - - - - 1.82 367.77
15 Samsung Pay 1.67 314.07 - - - - - - 1.67 314.07
16 HDFC Bank Apps 1.52 244.03 - - - - - - 1.52 244.03
17 Freecharge 1.12 63.80 - - - - - - 1.12 63.80
18 India Post Payments Bank App 1.08 123.25 - - - - - - 1.08 123.25
19 Ultracash 0.75 120.28 - - - - - - 0.75 120.28
20 Bank of Baroda Apps 0.75 293.25 - - - - - - 0.75 293.25
21 WhatsApp 0.56 36.44 - - - - - - 0.56 36.44
22 DBS Digibank App 0.56 178.75 - - - - - - 0.56 178.75
23 Deutsche Bank App 0.55 60.39 - - 0.00003 0.26 - - 0.55 60.65
24 MI Pay 0.44 62.81 - - - - - - 0.44 62.81
25 Jio Payments Bank App 0.41 27.91 - - - - - - 0.41 27.91
26 Union Bank Apps 0.24 99.94 - - - - - - 0.24 99.94
27 Federal Bank App 0.15 26.09 - - - - - - 0.15 26.09
28 Punjab National Bank App 0.13 64.68 - - - - - - 0.13 64.68
29 Cointab 0.13 43.70 - - - - - - 0.13 43.70
30 RBL Bank App 0.12 48.58 - - - - - - 0.12 48.58
31 Central Bank of India App 0.11 40.45 - - - - - - 0.11 40.45
32 Citi Bank App 0.09 71.30 - - - - - - 0.09 71.30
33 Allahabad Bank App 0.09 21.14 - - - - - - 0.09 21.14
34 Canara Bank App 0.09 40.52 - - - - - - 0.09 40.52
35 IDFC Bank App 0.08 41.87 - - - - - - 0.08 41.87
36 Karnataka Bank App 0.07 15.35 - - - - - - 0.07 15.35
37 HSBC Bank App 0.06 41.58 0.00 0.01 - - - - 0.06 41.59
38 South Indian Bank App 0.06 22.77 - - - - - - 0.06 22.77
39 UCO Bank App 0.05 14.12 - - - - - - 0.05 14.12
40 Standard Chartered Bank App 0.05 27.86 - - - - - - 0.05 27.86
41 Karur Vysya Bank App 0.03 13.14 - - - - - - 0.03 13.14
42 AU Small Finance Bank App 0.02 12.28 - - - - - - 0.02 12.28
43 Bank of Maharashtra App 0.02 6.37 - - - - - - 0.02 6.37
44 IDBI Bank App 0.02 9.18 - - - - - - 0.02 9.18
45 Indian Bank App 0.02 5.77 - - - - - - 0.02 5.77
46 Andhra Bank App 0.02 13.32 - - - - - - 0.02 13.32
47 Khalijeb 0.02 2.49 - - - - - - 0.02 2.49
48 Dena Bank App 0.02 20.50 - - - - - - 0.02 20.50
49 Bajaj Finserv 0.01 0.99 - - - - - - 0.01 0.99
50 Fino Payments bank App 0.01 1.08 - - - - - - 0.01 1.08
51 RealMe 0.01 1.86 - - - - - - 0.01 1.86
52 MakeMy Trip 0.01 3.95 - - - - - - 0.01 3.95
53 Punjab Sind Bank App 0.01 3.18 - - - - - - 0.01 3.18
54 Truecaller 0.01 1.94 - - - - - - 0.01 1.94
55 Janta Sahakari Bank App 0.01 5.02 - - - - - - 0.01 5.02
56 Other Apps 0.03 10.76 - - - - - - 0.03 10.76

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.
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)
Jan-21 2,302.73 4,31,181.89 1,294.11 3,60,545.93 1,008.62 70,635.96