Unified Payments Interface (UPI) Ecosystem Statistics

UPI Top 50 Member Remitter Performance (March'25)

UPI Remitter Members - Top 50 Members (Mar'25)
Sr. No.	UPI Remitter Members (Mar-2025)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank of India	4,956.07	92.01%	7.09%	0.90%	20.26	86.30%
2	HDFC Bank Ltd.	1,513.14	93.98%	6.00%	0.02%	4.92	97.21%
3	Bank of Baroda	1,270.60	89.47%	10.50%	0.03%	3.86	95.32%
4	Union Bank of India	1,173.28	91.58%	8.36%	0.06%	3.51	89.97%
5	Punjab National Bank	1,043.06	90.22%	9.45%	0.33%	3.83	91.30%
6	Kotak Mahindra Bank	938.60	89.78%	10.19%	0.02%	2.42	0.94%
7	Canara Bank	901.11	91.83%	8.04%	0.13%	2.70	87.81%
8	Axis Bank Ltd.	883.53	93.52%	6.45%	0.03%	2.25	84.45%
9	ICICI Bank Ltd.	730.29	95.15%	4.72%	0.13%	1.83	91.05%
10	Bank Of India	595.31	92.34%	7.08%	0.58%	2.67	73.07%
11	Indian Bank	589.50	91.56%	8.21%	0.23%	1.97	75.66%
12	India Post Payments Bank Limited	570.54	86.13%	13.54%	0.33%	2.31	89.05%
13	Airtel Payments Bank Limited	569.69	84.31%	15.38%	0.31%	2.52	88.84%
14	Indian Overseas Bank	292.32	91.93%	7.67%	0.40%	1.06	91.87%
15	Central Bank of India	266.98	86.15%	13.55%	0.30%	0.94	94.79%
16	Federal Bank Ltd.	256.34	91.49%	8.46%	0.05%	0.57	98.07%
17	UCO Bank	254.76	89.86%	10.05%	0.09%	0.96	89.31%
18	Fino Payments Bank Ltd.	214.85	87.62%	12.18%	0.21%	1.20	72.33%
19	Bank of Maharashtra	208.61	92.52%	7.31%	0.17%	0.81	69.23%
20	Indusind Bank Ltd.	203.78	87.95%	12.02%	0.03%	0.74	81.22%
21	IDBI Bank Ltd.	200.78	92.76%	7.23%	0.01%	0.60	95.10%
22	Yes Bank Ltd.	167.37	88.24%	11.65%	0.11%	0.46	69.33%
23	Karnataka Bank	144.19	90.64%	8.75%	0.61%	0.70	59.68%
24	IDFC Bank Ltd.	112.68	91.20%	8.80%	0.00%	0.29	91.84%
25	Karur Vysya Bank	90.86	91.97%	7.76%	0.27%	0.27	82.68%
26	Tri O Tech Solutions Private Limited	89.61	100.00%	0.00%	0.00%	-	0.00%
27	The Jammu & Kashmir Bank Limited	88.86	92.45%	6.41%	1.14%	0.99	32.27%
28	Bandhan Bank limited	82.99	92.36%	5.16%	2.48%	0.79	67.08%
29	AU Small Finance Bank	75.73	87.32%	12.67%	0.00%	0.29	83.57%
30	The South Indian Bank Limited	70.22	93.88%	6.04%	0.08%	0.17	90.63%
31	Punjab and Sind Bank	55.66	89.85%	9.52%	0.63%	0.35	71.58%
32	City Union Bank	54.12	90.75%	9.13%	0.12%	0.12	97.17%
33	Ujjivan Small Finance Bank Limited	53.09	93.11%	6.29%	0.60%	0.25	69.05%
34	Tamilnad Mercantile Bank Limited	51.92	91.34%	8.14%	0.52%	0.19	63.01%
35	JIO Payments Bank Ltd	48.73	78.72%	14.05%	7.23%	0.83	48.37%
36	Kerala Gramin Bank	43.54	91.33%	7.35%	1.32%	0.34	62.35%
37	Baroda U.P. Bank	43.22	90.27%	7.22%	2.51%	0.38	44.46%
38	Telangana Grameena Bank	37.03	83.67%	12.91%	3.42%	0.45	40.45%
39	Karnataka Gramin Bank	36.00	88.58%	10.27%	1.16%	0.27	82.93%
40	Maharashtra Gramin Bank	35.59	86.14%	12.37%	1.50%	0.17	60.21%
41	RBL Bank Ltd.	34.99	92.49%	6.98%	0.53%	0.12	66.84%
42	NSDL Payments Bank Limited	34.89	69.20%	19.22%	11.58%	1.07	16.58%
43	Rajasthan Marudhara Gramin Bank	34.54	80.78%	17.51%	1.71%	0.32	60.34%
44	DBS Bank India Limited	32.09	91.95%	8.04%	0.01%	0.09	94.35%
45	ESAF Small Finance Bank Ltd	31.85	91.50%	4.25%	4.26%	0.36	51.60%
46	Equitas Small Finance Bank	31.50	90.20%	9.43%	0.37%	0.10	89.49%
47	Saraswat Co-operative Bank	29.58	93.49%	6.01%	0.50%	0.10	66.23%
48	Andhra Pragathi Grameena Bank	28.26	83.93%	12.16%	3.91%	0.59	82.53%
49	Standard Chartered Bank	27.87	95.83%	4.14%	0.03%	0.06	91.92%
50	Sarva Haryana Gramin Bank	23.93	93.63%	4.59%	1.77%	0.21	51.59%

UPI Top 50 Member Beneficiary Performance (March'25)

UPI Beneficiary Members - Top 50 Members (Mar'25)
Sr.No.	UPI Beneficiary Members (Mar-2025)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Yes Bank Ltd.	7,307.36	99.98%	0.01%	0.01%	0.00%
2	Axis Bank Ltd.	1,899.35	99.70%	0.17%	0.14%	0.09%
3	State Bank of India	1,859.07	99.14%	0.10%	0.75%	0.16%
4	HDFC Bank Ltd.	876.97	99.25%	0.70%	0.05%	0.06%
5	ICICI Bank Ltd.	611.58	99.67%	0.24%	0.09%	0.02%
6	Bank of Baroda	492.70	99.88%	0.07%	0.05%	0.06%
7	Union Bank of India	458.94	99.86%	0.10%	0.04%	0.04%
8	Canara Bank	440.10	99.68%	0.20%	0.12%	0.04%
9	Airtel Payments Bank Limited	419.54	98.88%	0.91%	0.21%	0.08%
10	Punjab National Bank	419.12	99.43%	0.29%	0.27%	0.22%
11	Federal Bank Ltd.	407.79	99.75%	0.17%	0.08%	0.00%
12	Kotak Mahindra Bank	354.55	98.89%	1.09%	0.02%	0.02%
13	Indian Bank	272.99	99.47%	0.33%	0.20%	0.09%
14	Bank Of India	256.53	98.53%	1.02%	0.46%	0.14%
15	India Post Payments Bank Limited	248.71	98.59%	1.06%	0.35%	0.16%
16	Indusind Bank Ltd.	176.00	99.60%	0.30%	0.11%	0.05%
17	Indian Overseas Bank	144.84	99.28%	0.48%	0.25%	0.21%
18	Central Bank of India	123.40	99.30%	0.55%	0.15%	0.09%
19	Fino Payments Bank Ltd.	109.36	96.01%	3.81%	0.18%	0.11%
20	UCO Bank	109.28	99.34%	0.54%	0.12%	0.03%
21	IDBI Bank Ltd.	98.38	99.70%	0.25%	0.04%	0.01%
22	Bank of Maharashtra	93.68	99.47%	0.28%	0.25%	0.10%
23	RBL Bank Ltd.	85.36	99.33%	0.09%	0.58%	0.29%
24	Karnataka Bank	69.07	99.14%	0.30%	0.56%	0.17%
25	One Mobikwik Systems Limited	51.92	99.95%	0.00%	0.04%	0.00%
26	The Jammu & Kashmir Bank Limited	51.57	99.01%	0.43%	0.55%	0.61%
27	Bandhan Bank limited	48.45	97.22%	0.33%	2.45%	0.39%
28	IDFC Bank Ltd.	45.90	98.91%	1.05%	0.05%	0.02%
29	Karur Vysya Bank	44.17	99.46%	0.28%	0.26%	0.04%
30	Tri O Tech Solutions Private Limited	43.48	97.67%	2.31%	0.02%	0.02%
31	The South Indian Bank Limited	43.07	99.78%	0.13%	0.09%	0.02%
32	Unity Small Finance Bank Limited	41.03	99.96%	0.01%	0.03%	0.02%
33	Tamilnad Mercantile Bank Limited	37.74	99.34%	0.12%	0.54%	0.16%
34	AU Small Finance Bank	34.42	99.44%	0.52%	0.04%	0.03%
35	NSDL Payments Bank Limited	32.60	96.45%	0.83%	2.72%	1.20%
36	City Union Bank	30.84	99.27%	0.57%	0.16%	0.01%
37	JIO Payments Bank Ltd	27.71	95.42%	0.82%	3.75%	1.01%
38	Punjab and Sind Bank	26.55	96.87%	2.47%	0.66%	0.19%
39	Ujjivan Small Finance Bank Limited	26.53	99.32%	0.23%	0.45%	0.24%
40	Kerala Gramin Bank	24.70	98.87%	0.16%	0.97%	0.58%
41	Citi Bank	22.11	99.63%	0.31%	0.06%	0.03%
42	Suryoday Small Finance Bank Limited	21.22	97.90%	1.14%	0.95%	0.45%
43	Baroda U.P. Bank	20.99	97.37%	0.25%	2.38%	0.45%
44	Telangana Grameena Bank	16.74	97.58%	0.64%	1.78%	0.58%
45	Karnataka Gramin Bank	16.25	99.26%	0.16%	0.58%	0.54%
46	Maharashtra Gramin Bank	15.36	98.35%	0.18%	1.47%	0.73%
47	Equitas Small Finance Bank	14.84	97.88%	1.66%	0.46%	0.04%
48	ESAF Small Finance Bank Ltd	14.74	96.16%	0.18%	3.66%	0.53%
49	Rajasthan Marudhara Gramin Bank	13.49	94.97%	3.85%	1.18%	0.24%
50	Andhra Pragathi Grameena Bank	13.42	97.61%	0.29%	2.10%	0.16%

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 (Mar'25)

UPI Apps (Mar'25)
Sr.No.	Application Name	Customer Initiated Transactions		B2C Transactions		B2B Transactions		Total
Sr.No.	Application Name	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
1	Phone Pe #	8,647.78	12,57,075.54	0.00	0.00	0.00	0.00	8,647.78	12,57,075.54
2	Google Pay #	6,596.76	8,66,568.18	0.00	0.00	0.00	0.00	6,596.76	8,66,568.18
3	Paytm #	1,221.12	1,32,912.04	0.00	0.00	0.00	0.00	1,221.12	1,32,912.04
4	Navi #	324.42	18,018.65	0.00	0.00	0.00	0.00	324.42	18,018.65
5	super.money #	171.75	5,933.08	0.00	0.00	0.00	0.00	171.75	5,933.08
6	Axis Bank Apps	20.26	5,015.47	125.50	4,948.62	0.01	2.43	145.78	9,966.53
7	Cred #	144.82	55,091.22	0.00	0.00	0.00	0.00	144.82	55,091.22
8	Amazon Pay #	111.06	10,606.66	0.00	0.00	0.00	0.00	111.06	10,606.66
9	FamApp by Trio #	89.94	1,099.28	0.00	0.00	0.00	0.00	89.94	1,099.28
10	ICICI Bank Apps	65.41	14,804.72	0.01	13.65	2.21	1,878.57	67.63	16,696.94
11	Whatsapp #	66.23	4,958.25	0.00	0.00	0.00	0.00	66.23	4,958.25
12	HDFC Bank Apps	46.63	11,782.56	14.30	5.37	0.01	1.97	60.94	11,789.90
13	Kotak Mahindra Bank Apps	57.05	7,737.14	0.00	0.00	0.00	0.00	57.05	7,737.14
14	BHIM #	46.13	9,540.09	0.00	0.00	0.00	0.00	46.13	9,540.09
15	Yes Bank Apps	43.58	9,369.60	0.01	0.12	0.44	19.13	44.03	9,388.85
16	Mobikwik #	29.80	4,414.00	0.00	0.00	0.00	0.00	29.80	4,414.00
17	Airtel Payments Bank Apps	21.63	1,487.83	0.00	0.02	0.00	0.04	21.63	1,487.89
18	Slice #	17.41	2,069.29	0.00	0.00	0.00	0.02	17.41	2,069.31
19	India Post Payments Bank Apps	16.58	1,941.73	0.00	0.00	0.00	0.00	16.58	1,941.73
20	IDFC Bank Apps	14.39	2,478.07	0.14	7.96	0.01	0.05	14.53	2,486.08
21	State Bank of India Apps	12.61	3,418.04	0.00	0.00	0.00	0.00	12.61	3,418.04
22	RBL Bank Apps	12.38	1,714.22	0.00	0.01	0.20	27.46	12.59	1,741.69
23	Groww #	11.63	7,009.63	0.00	0.00	0.00	0.00	11.63	7,009.63
24	Bajaj Finserv #	9.66	1,892.01	0.00	0.00	0.00	0.00	9.66	1,892.01
25	Samsung Pay #	8.95	642.73	0.00	0.00	0.00	0.00	8.95	642.73
26	Pop Club #	8.53	449.95	0.00	0.00	0.00	0.00	8.53	449.95
27	Jupiter Money #	6.49	958.52	0.00	0.00	0.00	0.00	6.49	958.52
28	Federal Bank Apps	4.75	869.77	0.00	0.00	0.00	0.00	4.75	869.77
29	Flipkart UPI #	4.72	257.82	0.00	0.00	0.00	0.00	4.72	257.82
30	Jio Payments Bank Apps	4.08	318.20	0.00	0.00	0.00	0.00	4.08	318.20
31	Canara Bank Apps	3.75	975.91	0.00	0.00	0.00	0.00	3.75	975.91
32	Deutsche Bank Apps	3.61	531.92	0.00	0.00	0.00	0.12	3.62	532.05
33	Punjab National Bank Apps	3.38	898.95	0.00	0.00	0.00	0.00	3.38	898.95
34	Fi Money #	3.25	434.16	0.00	0.00	0.00	0.00	3.25	434.16
35	Timepay #	3.07	37.66	0.00	0.00	0.00	0.00	3.07	37.66
36	Bank of Baroda Apps	2.11	588.95	0.00	0.00	0.00	0.00	2.11	588.95
37	IndusInd Bank Apps	2.04	346.00	0.00	0.00	0.00	0.00	2.04	346.00
38	Shri Ram One #	1.75	116.77	0.00	0.00	0.00	0.00	1.75	116.77
39	Jammu and Kashmir Bank Apps	1.75	261.45	0.00	0.00	0.00	0.00	1.75	261.45
40	Omni Card	1.59	86.51	0.00	0.00	0.00	0.00	1.59	86.51
41	Central Bank of India Apps	1.57	268.00	0.00	0.00	0.00	0.00	1.57	268.00
42	Kiwi #	1.41	213.93	0.00	0.00	0.00	0.00	1.41	213.93
43	Suryoday Bank Apps	1.24	174.22	0.00	0.00	0.02	4.71	1.26	178.92
44	Bharat Pe #	1.07	68.67	0.00	0.00	0.00	0.00	1.07	68.67
45	DBS Digibank Apps	1.02	228.73	0.00	0.00	0.01	1.48	1.02	230.21
46	HSBC Bank Apps	0.99	224.31	0.01	0.32	0.00	0.21	1.00	224.84
47	Ind Money #	0.95	436.80	0.00	0.00	0.00	0.00	0.95	436.80
48	Aditya Birla Capital Digital #	0.88	39.97	0.00	0.00	0.00	0.00	0.88	39.97
49	One Card #	0.82	973.00	0.00	0.00	0.00	0.00	0.82	973.00
50	Digikhata	0.80	258.58	0.00	0.00	0.00	0.00	0.80	258.58
51	Union Bank Apps	0.72	241.09	0.00	0.00	0.00	0.00	0.72	241.09
52	South Indian Bank Apps	0.68	204.88	0.00	0.00	0.00	0.00	0.68	204.88
53	Indian Bank Apps	0.64	176.18	0.00	0.00	0.00	0.00	0.64	176.18
54	AU Small Finance Bank Apps	0.59	174.06	0.00	0.00	0.00	0.00	0.59	174.06
55	Fino Payments Bank Apps	0.58	63.84	0.00	0.00	0.00	0.00	0.58	63.84
56	Standard Chartered Bank Apps	0.31	140.79	0.00	0.00	0.19	5.67	0.50	146.46
57	UCO Bank Apps	0.44	110.34	0.00	0.00	0.00	0.00	0.44	110.34
58	Tata Neu #	0.38	111.95	0.00	0.00	0.00	0.00	0.38	111.95
59	ESAF Small Finance Bank Apps	0.38	40.78	0.00	0.00	0.00	0.00	0.38	40.78
60	Salary Se #	0.36	18.23	0.00	0.00	0.00	0.00	0.36	18.23
61	Bank of India Apps	0.27	86.10	0.00	0.00	0.00	0.00	0.27	86.10
62	Indian Overseas Bank Apps	0.26	60.29	0.00	0.00	0.00	0.00	0.26	60.29
63	Karnataka Bank Apps	0.25	57.71	0.00	0.00	0.00	0.01	0.25	57.72
64	Kredit.Pe #	0.19	26.43	0.00	0.00	0.00	0.00	0.19	26.43
65	Money View #	0.18	18.99	0.00	0.00	0.00	0.00	0.18	18.99
66	Dhani	0.17	8.44	0.00	0.00	0.00	0.00	0.17	8.44
67	Spice Money	0.16	12.87	0.00	0.00	0.00	0.00	0.16	12.87
68	Rapipay	0.14	17.08	0.00	0.00	0.00	0.00	0.14	17.08
69	IDBI Bank Apps	0.13	45.74	0.00	0.00	0.00	0.00	0.13	45.74
70	Ultracash #	0.11	8.67	0.00	0.00	0.00	0.00	0.11	8.67
71	Niyo Global #	0.11	54.39	0.00	0.00	0.00	0.00	0.11	54.39
72	True Balance	0.10	3.41	0.00	0.00	0.00	0.00	0.10	3.41
73	Karur Vysya Bank Apps	0.09	33.66	0.00	0.00	0.00	0.00	0.09	33.66
74	City Union Bank Apps	0.09	31.31	0.00	0.00	0.00	0.00	0.09	31.31
75	Tamilnad Mercantile Bank Apps	0.08	29.48	0.00	0.00	0.00	0.00	0.08	29.48
76	Genwise #	0.07	28.34	0.00	0.00	0.00	0.00	0.07	28.34
77	Freo #	0.05	3.87	0.00	0.00	0.00	0.00	0.05	3.87
78	NSDL Payments Bank Apps	0.04	5.54	0.00	0.00	0.00	0.00	0.04	5.54
79	Cheq	0.03	2.43	0.00	0.00	0.00	0.00	0.03	2.43
80	Bank of Maharashtra Apps	0.03	9.11	0.00	0.00	0.00	0.00	0.03	9.11
81	Punjab Sind Bank Apps	0.03	9.19	0.00	0.00	0.00	0.00	0.03	9.19
82	Others	2.08	247.74	0.00	0.00	0.18	7.19	2.26	254.93

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 20,000 is included under ‘Other Apps’.
BHIM Volume is inclusive of *99# volume.
WhatsApp*: Limit restrictions on user onboarding has been removed since 31^st Dec 2024
3rd Party Apps (TPAP) Volume Market Share statistics excludes the cross-border transactions and new/recent features
On Us transactions of Airtel Payments Bank Apps have been incoroprated in B2B Payments
# Denotes 3rd Party Apps (TPAP)

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)
Mar-25	18,301.51	24,77,221.61	6,840.45	18,06,811.06	11,461.06	6,70,410.55

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 (March'25)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Axis Bank Ltd.	6,604.23	92.40%	7.45%	0.16%
2	Yes Bank Ltd.	5,941.99	89.01%	10.86%	0.13%
3	ICICI Bank Ltd.	3,439.32	90.81%	9.06%	0.12%
4	HDFC Bank Ltd.	2,057.59	93.55%	6.37%	0.08%
5	State Bank of India	1,584.82	94.74%	5.10%	0.17%
6	Tri O Tech Solutions Private Limited	89.61	100.00%	0.00%	0.00%
7	Kotak Mahindra Bank	57.42	100.00%	0.00%	0.00%
8	National Payments Corporation of India	55.53	94.09%	5.71%	0.20%
9	Airtel Payments Bank Limited	22.47	96.32%	3.58%	0.10%
10	RBL Bank Ltd.	22.14	97.94%	1.99%	0.07%
11	North East Small Finance Bank	16.79	97.39%	2.52%	0.09%
12	India Post Payments Bank Limited	16.58	100.00%	0.00%	0.00%
13	IDFC Bank Ltd.	15.55	99.76%	0.24%	0.00%
14	One Mobikwik Systems Limited	11.90	100.00%	0.00%	0.00%
15	Federal Bank Ltd.	8.28	98.74%	1.24%	0.02%

UPI Payee PSP Performance

UPI Payee PSP Performance (March'25)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd.	10,420.07	88.88%	10.98%	0.13%
2	Axis Bank Ltd.	3,652.62	94.47%	5.40%	0.13%
3	ICICI Bank Ltd.	1,793.36	93.71%	6.16%	0.14%
4	HDFC Bank Ltd.	1,157.83	93.76%	6.11%	0.12%
5	State Bank of India	1,043.16	95.08%	4.78%	0.14%
6	Federal Bank Ltd.	331.85	96.90%	2.98%	0.13%
7	Airtel Payments Bank Limited	187.41	93.64%	6.24%	0.12%
8	Indusind Bank Ltd.	115.91	93.17%	6.70%	0.12%
9	Canara Bank	105.51	96.38%	3.50%	0.11%
10	RBL Bank Ltd.	86.13	92.91%	6.94%	0.15%
11	Kotak Mahindra Bank	70.38	94.72%	5.16%	0.12%
12	One Mobikwik Systems Limited	53.73	96.53%	3.35%	0.12%
13	Tri O Tech Solutions Private Limited	45.31	93.46%	6.37%	0.17%
14	Fino Payments Bank Ltd.	43.14	89.70%	10.09%	0.21%
15	Unity Small Finance Bank Limited	42.50	96.82%	3.04%	0.13%

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 - Mar 25

UPI Merchant Category-wise Classification - Mar'25
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5814	Fast food restaurants
	5812	Eating places and restaurants
	4814	Telecommunication services, including local and long distance calls
	5541	Service stations (with or without ancillary services)
	5816	Digital Goods: Games
	5993	Cigar shops and stands
	5912	Drug stores and pharmacies
	5462	Bakeries
	5451	Dairies
Medium Transacting Categories	4900	Utilities electric, gas, water and sanitary
	7322	Debt collection agencies
	5921	Package shops beer, wine and liquor
	5422	Freezer and locker meat provisioners
	5441	Candy, nut and confectionery shops
	5813	Drinking places (alcoholic beverages) bars, taverns, night-clubs
	9399	Government services not elsewhere classified
	5262	Online Marketplaces
	5691	Mens and womens clothing shops
	5732	Electronics shops
All Other Categories	5137	Mens, womens and childrens uniforms and commercial clothing
	7230	Beauty and barber shops
	7622	Electronics repair shops
	4112	Passenger railways
	5311	Department stores
	5412	Purchase of digital gold
	5331	Variety stores
	4121	Taxi-cabs and limousines
	5651	Family clothing shops
	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 Member Remitter Performance (February'25)

UPI Remitter Members - Top 50 Members (Feb'25)
Sr. No.	UPI Remitter Members (Feb-2025)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank of India	4,400.89	92.13%	7.53%	0.34%	12.56	94.16%
2	HDFC Bank Ltd.	1,335.84	93.74%	6.20%	0.06%	3.56	98.71%
3	Bank of Baroda	1,107.47	90.78%	9.16%	0.06%	2.98	94.41%
4	Union Bank of India	1,035.24	91.72%	8.05%	0.22%	2.90	89.12%
5	Punjab National Bank	925.01	89.74%	10.12%	0.14%	2.77	96.09%
6	Kotak Mahindra Bank	838.10	89.58%	10.23%	0.19%	2.07	2.75%
7	Canara Bank	799.21	90.86%	8.70%	0.44%	2.65	77.52%
8	Axis Bank Ltd.	774.80	93.21%	6.78%	0.02%	1.61	97.96%
9	ICICI Bank Ltd.	646.14	94.86%	5.08%	0.06%	1.29	92.36%
10	Bank Of India	524.43	92.00%	7.17%	0.83%	2.60	63.53%
11	Indian Bank	517.21	91.87%	8.08%	0.05%	1.27	93.38%
12	Airtel Payments Bank Limited	494.58	79.75%	17.84%	2.41%	2.16	82.80%
13	India Post Payments Bank Ltd.	488.27	84.83%	14.04%	1.13%	1.76	85.35%
14	Indian Overseas Bank	257.53	91.88%	7.93%	0.19%	0.67	97.18%
15	Central Bank of India	234.96	85.99%	13.49%	0.52%	0.85	92.18%
16	Federal Bank Ltd.	234.23	91.54%	8.32%	0.14%	0.48	97.98%
17	UCO Bank	222.51	90.40%	9.22%	0.38%	0.79	83.80%
18	Bank of Maharashtra	183.07	92.04%	7.47%	0.50%	0.71	62.29%
19	Fino Payments Bank Ltd.	182.03	89.88%	9.89%	0.22%	0.82	83.43%
20	Indusind Bank Ltd.	180.68	87.51%	12.12%	0.37%	0.81	61.52%
21	IDBI Bank Ltd.	177.38	92.32%	7.34%	0.34%	0.62	87.66%
22	Yes Bank Ltd.	150.13	86.99%	12.77%	0.23%	0.48	54.37%
23	Karnataka Bank	127.01	90.88%	8.65%	0.47%	0.47	62.11%
24	IDFC Bank Ltd.	99.48	90.73%	9.24%	0.02%	0.23	95.90%
25	Karur Vysya Bank	80.65	91.79%	7.87%	0.34%	0.23	78.72%
26	The Jammu & Kashmir Bank Limited	80.46	91.31%	6.33%	2.36%	0.96	27.81%
27	Tri O Tech Solutions Private Limited	76.79	100.00%	0.00%	0.00%	-	0.00%
28	Bandhan Bank limited	74.75	92.93%	5.02%	2.05%	0.65	88.71%
29	AU Small Finance Bank	67.04	86.79%	12.78%	0.43%	0.28	74.62%
30	The South Indian Bank Limited	63.83	93.57%	5.83%	0.60%	0.12	96.99%
31	Punjab and Sind Bank	48.34	89.73%	9.68%	0.59%	0.25	75.45%
32	City Union Bank	48.24	91.53%	8.33%	0.13%	0.09	96.40%
33	Ujjivan Small Finance Bank Limited	46.36	94.56%	5.35%	0.10%	0.15	88.76%
34	Tamilnad Mercantile Bank Limited	45.82	91.37%	8.13%	0.50%	0.14	64.88%
35	Kerala Gramin Bank	39.96	92.08%	7.29%	0.63%	0.15	88.95%
36	JIO Payments Bank Ltd	39.60	86.44%	12.94%	0.62%	0.21	80.00%
37	Baroda U.P. Bank	35.45	92.12%	6.03%	1.84%	0.31	41.58%
38	Telangana Grameena Bank	31.21	83.85%	12.35%	3.81%	0.60	26.67%
39	Karnataka Gramin Bank	31.05	88.53%	10.15%	1.32%	0.21	87.74%
40	NSDL Payments Bank Limited	30.80	68.39%	15.91%	15.71%	1.47	8.99%
41	Rajasthan Marudhara Gramin Bank	30.74	80.12%	14.29%	5.59%	0.63	18.91%
42	Maharashtra Gramin Bank	30.50	86.01%	11.99%	2.01%	0.15	53.25%
43	ESAF Small Finance Bank Ltd	28.79	94.28%	4.15%	1.57%	0.18	91.31%
44	DBS Bank India Limited	28.75	92.20%	7.75%	0.05%	0.07	93.35%
45	RBL Bank Ltd.	28.55	91.46%	7.75%	0.79%	0.09	66.20%
46	Equitas Small Finance Bank	28.49	89.74%	9.72%	0.54%	0.10	71.53%
47	Saraswat Co-operative Bank	26.38	93.24%	6.16%	0.61%	0.10	55.99%
48	Standard Chartered Bank	25.11	95.66%	4.29%	0.05%	0.05	91.57%
49	Andhra Pragathi Grameena Bank	23.70	83.93%	12.53%	3.53%	0.43	79.17%
50	Sarva Haryana Gramin Bank	20.73	92.58%	4.52%	2.90%	0.20	46.38%

UPI Top 50 Member Beneficiary Performance (February'25)

UPI Beneficiary Members - Top 50 Members (Feb'25)
Sr.No.	UPI Beneficiary Members (Feb-2025)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Yes Bank Ltd.	6,412.99	99.99%	0.01%	0.00%	0.00%
2	Axis Bank Ltd.	1,662.94	99.84%	0.15%	0.01%	0.01%
3	State Bank of India	1,627.18	99.68%	0.10%	0.22%	0.07%
4	HDFC Bank Ltd.	774.50	99.24%	0.72%	0.05%	0.03%
5	ICICI Bank Ltd.	561.55	99.66%	0.27%	0.07%	0.03%
6	Bank of Baroda	434.99	99.91%	0.06%	0.03%	0.04%
7	Canara Bank	423.99	99.33%	0.34%	0.33%	0.12%
8	Union Bank of India	405.83	99.77%	0.11%	0.13%	0.06%
9	Federal Bank Ltd.	374.29	99.82%	0.15%	0.03%	0.00%
10	Punjab National Bank	368.35	99.60%	0.36%	0.04%	0.03%
11	Airtel Payments Bank Limited	334.99	98.47%	0.82%	0.72%	0.18%
12	Kotak Mahindra Bank	313.80	98.88%	1.04%	0.08%	0.06%
13	Indian Bank	235.01	99.68%	0.28%	0.04%	0.02%
14	Bank Of India	225.76	98.40%	0.83%	0.78%	0.28%
15	India Post Payments Bank Ltd.	210.46	98.74%	0.82%	0.44%	0.22%
16	Indusind Bank Ltd.	157.73	99.28%	0.30%	0.42%	0.23%
17	Indian Overseas Bank	128.46	99.41%	0.48%	0.11%	0.08%
18	Central Bank of India	108.51	99.21%	0.57%	0.22%	0.10%
19	Fino Payments Bank Ltd.	98.36	97.19%	2.68%	0.13%	0.04%
20	UCO Bank	96.02	99.13%	0.53%	0.34%	0.05%
21	IDBI Bank Ltd.	81.03	99.45%	0.26%	0.29%	0.07%
22	Bank of Maharashtra	78.86	99.38%	0.22%	0.40%	0.22%
23	RBL Bank Ltd.	73.78	99.52%	0.11%	0.38%	0.19%
24	Karnataka Bank	59.83	98.87%	0.58%	0.54%	0.13%
25	One Mobikwik Systems Limited	46.10	99.95%	0.00%	0.04%	0.00%
26	Bandhan Bank limited	43.29	98.41%	0.21%	1.38%	0.16%
27	IDFC Bank Ltd.	42.15	98.96%	1.01%	0.03%	0.01%
28	The Jammu & Kashmir Bank Limited	41.94	98.67%	0.45%	0.88%	0.50%
29	The South Indian Bank Limited	39.59	99.20%	0.13%	0.67%	0.02%
30	Karur Vysya Bank	39.03	99.37%	0.30%	0.33%	0.06%
31	Tri O Tech Solutions Private Limited	37.15	96.60%	3.39%	0.00%	0.00%
32	NSDL Payments Bank Limited	34.48	96.69%	0.84%	2.47%	0.99%
33	Tamilnad Mercantile Bank Limited	31.84	99.52%	0.08%	0.40%	0.09%
34	AU Small Finance Bank	30.92	99.15%	0.48%	0.37%	0.09%
35	City Union Bank	27.02	99.41%	0.44%	0.15%	0.01%
36	JIO Payments Bank Ltd	24.04	98.87%	0.73%	0.39%	0.19%
37	Ujjivan Small Finance Bank Limited	23.56	99.60%	0.23%	0.17%	0.17%
38	Punjab and Sind Bank	23.29	97.40%	2.00%	0.60%	0.14%
39	Kerala Gramin Bank	21.85	99.37%	0.20%	0.43%	0.23%
40	Unity Small Finance Bank Limited	20.19	99.89%	0.03%	0.08%	0.03%
41	Citi Bank	18.14	99.46%	0.36%	0.18%	0.09%
42	Baroda U.P. Bank	17.91	98.60%	0.24%	1.16%	0.42%
43	Suryoday Small Finance Bank Limited	17.22	97.85%	1.01%	1.13%	0.59%
44	Telangana Grameena Bank	14.25	97.13%	0.90%	1.96%	1.05%
45	Karnataka Gramin Bank	14.19	98.98%	0.15%	0.87%	0.42%
46	Equitas Small Finance Bank	13.37	97.13%	2.08%	0.79%	0.14%
47	ESAF Small Finance Bank Ltd	13.30	99.08%	0.18%	0.74%	0.22%
48	Maharashtra Gramin Bank	13.25	97.97%	0.33%	1.70%	0.24%
49	Rajasthan Marudhara Gramin Bank	12.35	95.08%	1.32%	3.60%	1.16%
50	Andhra Pragathi Grameena Bank	11.26	97.78%	0.37%	1.85%	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 (Feb'25)

UPI Apps (Feb'25)
Sr.No.	Application Name	Customer Initiated Transactions		B2C Transactions		B2B Transactions		Total
Sr.No.	Application Name	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
1	Phone Pe #	7,656.40	11,18,963.81	0.00	0.00	0.00	0.00	7,656.40	11,18,963.81
2	Google Pay #	5,836.80	7,71,089.15	0.00	0.00	0.00	0.00	5,836.80	7,71,089.15
3	Paytm #	1,079.64	1,17,090.29	0.00	0.00	0.00	0.00	1,079.64	1,17,090.29
4	Navi #	260.75	14,322.97	0.00	0.00	0.00	0.00	260.75	14,322.97
5	super.money #	139.10	4,812.44	0.00	0.00	0.00	0.00	139.10	4,812.44
6	Cred #	126.48	45,127.72	0.00	0.00	0.00	0.00	126.48	45,127.72
7	Axis Bank Apps	17.53	4,556.21	100.15	4,638.45	0.01	2.67	117.70	9,197.33
8	Amazon Pay #	93.31	9,077.30	0.00	0.00	0.00	0.00	93.31	9,077.30
9	FamApp by Trio #	77.08	876.12	0.00	0.00	0.00	0.00	77.08	876.12
10	Whatsapp #	58.86	4,349.62	0.00	0.00	0.00	0.00	58.86	4,349.62
11	ICICI Bank Apps	52.17	12,740.39	0.01	11.15	1.93	1,622.99	54.11	14,374.53
12	Kotak Mahindra Bank Apps	50.53	6,872.10	0.00	0.00	0.00	0.00	50.53	6,872.10
13	HDFC Bank Apps	39.26	10,543.20	8.71	3.71	0.01	0.73	47.98	10,547.64
14	Yes Bank Apps	37.40	8,367.66	0.00	0.09	0.37	17.31	37.78	8,385.06
15	BHIM #	36.88	8,475.29	0.00	0.00	0.00	0.00	36.88	8,475.29
16	Mobikwik #	24.19	3,733.72	0.00	0.00	0.00	0.00	24.19	3,733.72
17	Airtel Payments Bank Apps	18.99	1,349.20	0.00	0.01	0.00	0.03	18.99	1,349.23
18	Slice #	15.31	1,742.70	0.00	0.00	0.00	0.01	15.31	1,742.71
19	Groww #	12.81	8,383.73	0.00	0.00	0.00	0.00	12.81	8,383.73
20	India Post Payments Bank Apps	12.27	1,463.53	0.00	0.00	0.00	0.00	12.27	1,463.53
21	IDFC Bank Apps	11.98	2,158.27	0.00	0.00	0.00	0.02	11.98	2,158.30
22	State Bank of India Apps	11.68	3,197.67	0.00	0.00	0.00	0.00	11.68	3,197.67
23	RBL Bank Apps	8.76	1,408.32	0.00	0.00	0.10	13.57	8.86	1,421.89
24	Bajaj Finserv #	8.39	1,707.51	0.00	0.00	0.00	0.00	8.39	1,707.51
25	Samsung Pay #	8.09	576.30	0.00	0.00	0.00	0.00	8.09	576.30
26	Pop Club #	7.27	419.36	0.00	0.00	0.00	0.00	7.27	419.36
27	Jupiter Money #	5.95	858.34	0.00	0.00	0.00	0.00	5.95	858.34
28	Flipkart UPI #	4.42	238.42	0.00	0.00	0.00	0.00	4.42	238.42
29	Federal Bank Apps	4.08	715.26	0.00	0.00	0.00	0.00	4.08	715.26
30	Jio Payments Bank Apps	3.66	290.56	0.00	0.00	0.00	0.00	3.66	290.56
31	Canara Bank Apps	3.25	837.13	0.00	0.00	0.00	0.00	3.25	837.13
32	Punjab National Bank Apps	3.19	809.91	0.00	0.00	0.00	0.00	3.19	809.91
33	Deutsche Bank Apps	3.12	442.59	0.00	0.00	0.00	0.09	3.12	442.68
34	Fi Money #	2.99	377.32	0.00	0.00	0.00	0.00	2.99	377.32
35	Timepay #	2.19	28.77	0.00	0.00	0.00	0.00	2.19	28.77
36	IndusInd Bank Apps	1.76	307.45	0.00	0.00	0.00	0.00	1.76	307.45
37	Bank of Baroda Apps	1.72	472.44	0.00	0.00	0.00	0.00	1.72	472.44
38	Jammu and Kashmir Bank Apps	1.57	216.84	0.00	0.00	0.00	0.00	1.57	216.84
39	Omni Card	1.41	93.44	0.00	0.00	0.00	0.00	1.41	93.44
40	Central Bank of India Apps	1.36	233.31	0.00	0.00	0.00	0.00	1.36	233.31
41	Shri Ram One #	1.16	81.10	0.00	0.00	0.00	0.00	1.16	81.10
42	Suryoday Bank Apps	1.10	189.69	0.00	0.00	0.02	3.59	1.12	193.28
43	Kiwi #	1.01	155.81	0.00	0.00	0.00	0.00	1.01	155.81
44	DBS Digibank Apps	0.99	201.32	0.00	0.00	0.01	1.37	1.00	202.69
45	HSBC Bank Apps	0.81	186.34	0.00	0.27	0.00	0.10	0.82	186.70
46	Ind Money #	0.78	357.98	0.00	0.00	0.00	0.00	0.78	357.98
47	Aditya Birla Capital Digital #	0.70	29.68	0.00	0.00	0.00	0.00	0.70	29.68
48	Digikhata	0.68	208.81	0.00	0.00	0.00	0.00	0.68	208.81
49	Union Bank Apps	0.67	225.15	0.00	0.00	0.00	0.00	0.67	225.15
50	One Card #	0.66	742.49	0.00	0.00	0.00	0.00	0.66	742.49
51	Bharat Pe #	0.62	41.42	0.00	0.00	0.00	0.00	0.62	41.42
52	South Indian Bank Apps	0.62	178.11	0.00	0.00	0.00	0.00	0.62	178.11
53	Indian Bank Apps	0.61	168.69	0.00	0.00	0.00	0.00	0.61	168.69
54	Fino Payments Bank Apps	0.53	68.54	0.00	0.00	0.00	0.00	0.53	68.54
55	AU Small Finance Bank Apps	0.49	148.93	0.00	0.00	0.00	0.00	0.49	148.93
56	UCO Bank Apps	0.35	89.18	0.00	0.00	0.00	0.00	0.35	89.18
57	Salary Se #	0.30	15.64	0.00	0.00	0.00	0.00	0.30	15.64
58	Tata Neu #	0.30	92.32	0.00	0.00	0.00	0.00	0.30	92.32
59	Indian Overseas Bank Apps	0.27	67.20	0.00	0.00	0.00	0.00	0.27	67.20
60	ESAF Small Finance Bank Apps	0.27	26.81	0.00	0.00	0.00	0.00	0.27	26.81
61	Bank of India Apps	0.24	75.45	0.00	0.00	0.00	0.00	0.24	75.45
62	Karnataka Bank Apps	0.23	50.92	0.00	0.00	0.00	0.00	0.23	50.92
63	Standard Chartered Bank Apps	0.20	114.04	0.00	0.00	0.00	0.07	0.20	114.12
64	Dhani	0.15	7.35	0.00	0.00	0.00	0.00	0.15	7.35
65	Money View #	0.15	15.33	0.00	0.00	0.00	0.00	0.15	15.33
66	True Balance	0.13	4.64	0.00	0.00	0.00	0.00	0.13	4.64
67	Kredit.Pe #	0.12	16.73	0.00	0.00	0.00	0.00	0.12	16.73
68	Rapipay	0.12	14.62	0.00	0.00	0.00	0.00	0.12	14.62
69	Spice Money	0.10	9.88	0.00	0.00	0.00	0.00	0.10	9.88
70	Niyo Global #	0.09	46.26	0.00	0.00	0.00	0.00	0.09	46.26
71	IDBI Bank Apps	0.09	32.23	0.00	0.00	0.00	0.00	0.09	32.23
72	Ultracash #	0.09	6.62	0.00	0.00	0.00	0.00	0.09	6.62
73	City Union Bank Apps	0.08	28.98	0.00	0.00	0.00	0.00	0.08	28.98
74	Karur Vysya Bank Apps	0.08	28.60	0.00	0.00	0.00	0.00	0.08	28.60
75	Tamilnad Mercantile Bank Apps	0.08	26.47	0.00	0.00	0.00	0.00	0.08	26.47
76	NSDL Payments Bank Apps	0.08	8.12	0.00	0.00	0.00	0.00	0.08	8.12
77	Genwise #	0.07	24.26	0.00	0.00	0.00	0.00	0.07	24.26
78	Freo #	0.04	2.36	0.00	0.00	0.00	0.00	0.04	2.36
79	Cheq	0.03	2.44	0.00	0.00	0.00	0.00	0.03	2.44
80	Punjab Sind Bank Apps	0.03	9.76	0.00	0.00	0.00	0.00	0.03	9.76
81	Bank of Maharashtra Apps	0.02	9.03	0.00	0.00	0.00	0.00	0.02	9.03
82	Others	1.80	216.46	0.00	0.00	0.15	6.15	1.94	222.61

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 20,000 is included under ‘Other Apps’.
BHIM Volume is inclusive of *99# volume.
WhatsApp*: Limit restrictions on user onboarding has been removed since 31^st Dec 2024
3rd Party Apps (TPAP) Volume Market Share statistics excludes the cross-border transactions and new/recent features
On Us transactions of Airtel Payments Bank Apps have been incoroprated in B2B Payments
# Denotes 3rd Party Apps (TPAP)

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)
Feb-25	16,106.19	21,96,481.69	6,039.45	16,06,397.95	10,066.74	5,90,083.74

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 (February'25)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Axis Bank Ltd.	5,700.87	92.24%	7.57%	0.19%
2	Yes Bank Ltd.	5,129.26	88.46%	11.38%	0.15%
3	ICICI Bank Ltd.	3,081.73	90.89%	8.94%	0.16%
4	HDFC Bank Ltd.	1,810.37	93.45%	6.40%	0.15%
5	State Bank of India	1,599.37	94.58%	5.22%	0.20%
6	Tri O Tech Solutions Private Limited	76.79	100.00%	0.00%	0.00%
7	Kotak Mahindra Bank	50.89	100.00%	0.00%	0.00%
8	National Payments Corporation of India	45.50	93.38%	6.39%	0.23%
9	Airtel Payments Bank Limited	19.85	95.73%	4.16%	0.10%
10	RBL Bank Ltd.	16.96	97.50%	2.39%	0.11%
11	IDFC Bank Ltd.	12.83	99.74%	0.26%	0.00%
12	India Post Payments Bank Limited	12.27	100.00%	0.00%	0.00%
13	North East Small Finance Bank	10.97	96.10%	3.76%	0.14%
14	One Mobikwik Systems Limited	9.98	100.00%	0.00%	0.00%
15	Federal Bank Ltd.	7.32	98.68%	1.27%	0.05%

UPI Payee PSP Performance

UPI Payee PSP Performance (February'25)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd.	9,223.00	88.71%	11.13%	0.16%
2	Axis Bank Ltd.	3,198.69	94.30%	5.52%	0.18%
3	ICICI Bank Ltd.	1,590.89	93.47%	6.33%	0.20%
4	HDFC Bank Ltd.	1,010.36	93.72%	6.13%	0.15%
5	State Bank of India	922.49	94.82%	4.99%	0.19%
6	Federal Bank Ltd.	305.86	96.85%	3.00%	0.15%
7	Airtel Payments Bank Limited	137.28	93.89%	5.97%	0.15%
8	Canara Bank	130.41	95.44%	4.38%	0.18%
9	Indusind Bank Ltd.	104.59	92.70%	7.14%	0.16%
10	RBL Bank Ltd.	74.77	92.54%	7.25%	0.21%
11	Kotak Mahindra Bank	61.91	93.86%	5.99%	0.15%
12	One Mobikwik Systems Limited	47.74	96.47%	3.39%	0.13%
13	Fino Payments Bank Ltd.	39.24	89.91%	9.85%	0.24%
14	Tri O Tech Solutions Private Limited	38.43	93.12%	6.65%	0.23%
15	NSDL Payments Bank Limited	28.18	92.73%	7.04%	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.
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 - Feb 25

UPI Merchant Category-wise Classification - Feb'25
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5814	Fast food restaurants
	5812	Eating places and restaurants
	4814	Telecommunication services, includinglocal and long distance calls
	5541	Service stations (with or without ancillary services)
	5816	Digital Goods: Games
	5993	Cigar shops and stands
	5912	Drug stores and pharmacies
	5462	Bakeries
	4900	Utilities electric, gas, water and sanitary
Medium Transacting Categories	5451	Dairies
	7322	Debt collection agencies
	5921	Package shops beer, wine and liquor
	5813	Drinking places (alcoholic beverages)bars, taverns, night-clubs
	5441	Candy, nut and confectionery shops
	5422	Freezer and locker meat provisioners
	9399	Government services not elsewhere classified
	7230	Beauty and barber shops
	4112	Passenger railways
	5262	Online Marketplaces
All Other Categories	7622	Electronics repair shops
	5732	Electronics shops
	5691	Mens and womens clothing shops
	5137	Mens, womens and childrens uniforms andcommercial clothing
	5331	Variety stores
	4121	Taxi-cabs and limousines
	6211	Securities brokers and dealers
	5311	Department stores
	5412	Purchase of digital gold
	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 Member Remitter Performance (January'25)

UPI Remitter Members - Top 50 Members (Jan'25)
Sr. No.	UPI Remitter Members (Jan-2025)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank of India	4,664.49	91.22%	7.93%	0.84%	15.63	97.06%
2	HDFC Bank Ltd.	1,419.33	93.64%	6.28%	0.08%	4.12	98.91%
3	Bank of Baroda	1,159.99	91.22%	8.50%	0.28%	3.31	97.33%
4	Union Bank of India	1,086.26	91.25%	8.07%	0.68%	5.11	56.75%
5	Punjab National Bank	976.62	89.56%	10.31%	0.13%	2.99	98.61%
6	Kotak Mahindra Bank	889.41	89.73%	10.22%	0.06%	2.24	89.54%
7	Canara Bank	835.68	91.83%	7.80%	0.37%	3.08	79.91%
8	Axis Bank Ltd.	821.68	93.47%	6.51%	0.02%	1.83	95.14%
9	ICICI Bank Ltd.	692.71	94.98%	4.96%	0.06%	1.36	98.36%
10	Bank Of India	556.22	92.58%	7.05%	0.37%	2.28	72.53%
11	Airtel Payments Bank Limited	553.22	85.84%	13.72%	0.45%	2.47	93.68%
12	Indian Bank	539.83	91.90%	8.04%	0.06%	1.33	93.95%
13	India Post Payments Bank Ltd.	496.43	83.69%	14.80%	1.51%	2.60	57.91%
14	Indian Overseas Bank	264.20	92.14%	7.55%	0.31%	0.74	97.00%
15	Federal Bank Ltd.	250.01	91.29%	8.47%	0.24%	0.50	99.71%
16	Central Bank of India	246.28	85.69%	13.46%	0.85%	1.18	75.51%
17	UCO Bank	231.83	90.85%	8.99%	0.16%	0.80	89.97%
18	Bank of Maharashtra	194.89	92.30%	7.61%	0.09%	0.56	89.99%
19	Indusind Bank Ltd.	191.69	87.62%	12.19%	0.19%	0.75	76.62%
20	IDBI Bank Ltd.	188.22	92.26%	7.49%	0.25%	0.60	89.76%
21	Fino Payments Bank Ltd.	185.40	91.80%	8.05%	0.14%	0.75	92.17%
22	Yes Bank Ltd.	168.50	84.22%	15.59%	0.19%	0.51	56.27%
23	Karnataka Bank	136.62	90.20%	9.67%	0.14%	0.40	74.39%
24	IDFC Bank Ltd.	104.47	90.66%	9.31%	0.03%	0.26	95.79%
25	Karur Vysya Bank	84.10	92.02%	7.64%	0.34%	0.26	72.72%
26	The Jammu & Kashmir Bank Limited	82.35	93.48%	6.31%	0.21%	0.39	81.26%
27	Tri O Tech Solutions Private Limited	78.71	100.00%	0.00%	0.00%	-	0.00%
28	Bandhan Bank limited	78.53	92.71%	5.28%	2.01%	0.42	89.00%
29	AU Small Finance Bank	69.84	86.60%	12.25%	1.15%	0.48	60.62%
30	The South Indian Bank Limited	67.76	94.10%	5.64%	0.26%	0.16	86.88%
31	Punjab and Sind Bank	50.26	90.33%	9.39%	0.28%	0.23	88.46%
32	City Union Bank	49.76	91.73%	8.11%	0.16%	0.10	97.37%
33	Ujjivan Small Finance Bank Limited	49.30	94.68%	4.95%	0.38%	0.17	88.78%
34	Tamilnad Mercantile Bank Limited	47.41	91.51%	8.31%	0.18%	0.10	85.73%
35	Kerala Gramin Bank	41.85	91.60%	7.39%	1.01%	0.23	68.36%
36	JIO Payments Bank Ltd	38.84	86.01%	12.36%	1.63%	0.22	89.24%
37	Baroda U.P. Bank	35.83	90.54%	6.23%	3.23%	0.44	32.52%
38	Karnataka Gramin Bank	33.43	86.15%	9.39%	4.46%	0.52	72.43%
39	Rajasthan Marudhara Gramin Bank	31.82	81.68%	12.90%	5.43%	0.51	29.98%
40	Maharashtra Gramin Bank	31.62	86.20%	12.11%	1.69%	0.12	69.86%
41	Equitas Small Finance Bank	31.07	90.38%	9.51%	0.10%	0.09	98.66%
42	DBS Bank India Limited	30.85	92.01%	7.92%	0.07%	0.08	96.10%
43	ESAF Small Finance Bank Ltd	30.15	95.22%	4.46%	0.31%	0.09	96.73%
44	RBL Bank Ltd.	29.51	91.90%	7.73%	0.37%	0.10	66.25%
45	NSDL Payments Bank Limited	29.28	74.94%	20.06%	5.00%	0.47	34.88%
46	Saraswat Co-operative Bank	28.32	93.24%	6.42%	0.34%	0.10	67.53%
47	Standard Chartered Bank	26.87	95.22%	4.22%	0.56%	0.06	82.54%
48	Telangana Grameena Bank	26.64	79.06%	15.81%	5.13%	0.58	41.27%
49	Andhra Pragathi Grameena Bank	25.58	76.03%	11.90%	12.07%	0.98	30.56%
50	Sarva Haryana Gramin Bank	21.26	94.63%	4.63%	0.73%	0.12	69.44%

UPI Top 50 Member Beneficiary Performance (January'25)

UPI Beneficiary Members - Top 50 Members (Jan'25)
Sr.No.	UPI Beneficiary Members (Jan-2025)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Yes Bank Ltd.	6,739.84	99.99%	0.01%	0.00%	0.00%
2	Axis Bank Ltd.	1,730.16	99.90%	0.10%	0.00%	0.01%
3	State Bank of India	1,713.51	99.56%	0.13%	0.31%	0.31%
4	HDFC Bank Ltd.	807.76	99.20%	0.75%	0.04%	0.04%
5	ICICI Bank Ltd.	624.34	99.55%	0.37%	0.08%	0.03%
6	Bank of Baroda	464.01	99.79%	0.06%	0.14%	0.13%
7	Canara Bank	462.95	99.39%	0.41%	0.20%	0.15%
8	Union Bank of India	428.05	99.48%	0.10%	0.42%	0.18%
9	Federal Bank Ltd.	403.79	99.81%	0.15%	0.03%	0.00%
10	Airtel Payments Bank Limited	394.02	98.61%	0.47%	0.93%	0.09%
11	Punjab National Bank	389.95	99.54%	0.40%	0.06%	0.06%
12	Kotak Mahindra Bank	331.14	98.83%	1.11%	0.06%	0.03%
13	Indian Bank	244.02	99.70%	0.25%	0.05%	0.03%
14	Bank Of India	240.70	98.88%	0.87%	0.25%	0.13%
15	India Post Payments Bank Ltd.	212.25	98.44%	0.86%	0.70%	0.51%
16	Indusind Bank Ltd.	163.47	99.61%	0.30%	0.08%	0.05%
17	Indian Overseas Bank	137.06	99.30%	0.58%	0.11%	0.18%
18	Central Bank of India	114.31	98.69%	0.54%	0.77%	0.34%
19	Fino Payments Bank Ltd.	111.51	98.39%	1.51%	0.10%	0.03%
20	UCO Bank	101.81	99.39%	0.48%	0.13%	0.03%
21	Bank of Maharashtra	87.68	99.66%	0.23%	0.11%	0.03%
22	IDBI Bank Ltd.	82.81	99.62%	0.26%	0.12%	0.07%
23	RBL Bank Ltd.	76.23	99.47%	0.23%	0.30%	0.18%
24	Karnataka Bank	64.93	99.20%	0.71%	0.09%	0.05%
25	One Mobikwik Systems Limited	47.73	99.98%	0.01%	0.01%	0.00%
26	Bandhan Bank limited	45.82	97.63%	0.22%	2.15%	0.11%
27	IDFC Bank Ltd.	44.02	98.94%	1.03%	0.03%	0.01%
28	The Jammu & Kashmir Bank Limited	43.36	99.37%	0.56%	0.07%	0.12%
29	The South Indian Bank Limited	42.61	99.76%	0.10%	0.14%	0.03%
30	Karur Vysya Bank	40.43	99.55%	0.23%	0.22%	0.07%
31	Tri O Tech Solutions Private Limited	38.46	96.19%	3.72%	0.09%	0.04%
32	AU Small Finance Bank	33.08	98.79%	0.45%	0.76%	0.26%
33	Tamilnad Mercantile Bank Limited	32.69	99.77%	0.08%	0.15%	0.03%
34	City Union Bank	27.07	99.39%	0.50%	0.11%	0.01%
35	Ujjivan Small Finance Bank Limited	25.12	99.48%	0.28%	0.24%	0.21%
36	Punjab and Sind Bank	24.91	97.21%	2.54%	0.25%	0.05%
37	JIO Payments Bank Ltd	24.79	98.66%	0.99%	0.35%	0.20%
38	Kerala Gramin Bank	22.91	98.65%	0.70%	0.64%	0.41%
39	NSDL Payments Bank Limited	21.12	92.36%	3.75%	3.89%	0.47%
40	Citi Bank	20.11	99.53%	0.37%	0.10%	0.06%
41	Suryoday Small Finance Bank Limited	18.64	97.87%	1.11%	1.02%	0.51%
42	Baroda U.P. Bank	17.85	97.60%	0.28%	2.13%	0.72%
43	Karnataka Gramin Bank	15.31	96.43%	0.41%	3.15%	1.03%
44	Equitas Small Finance Bank	14.64	96.36%	3.53%	0.11%	0.05%
45	ESAF Small Finance Bank Ltd	14.11	99.59%	0.20%	0.22%	0.01%
46	Maharashtra Gramin Bank	13.84	98.68%	0.19%	1.12%	0.13%
47	Rajasthan Marudhara Gramin Bank	13.16	95.99%	0.69%	3.31%	0.98%
48	Telangana Grameena Bank	11.82	95.55%	0.71%	3.74%	0.97%
49	Andhra Pragathi Grameena Bank	11.77	92.70%	0.22%	7.07%	1.16%
50	Unity Small Finance Bank Limited	11.67	99.66%	0.11%	0.23%	0.16%

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 (Jan'25)

UPI Apps (Jan'25)
Sr.No.	Application Name	Customer Initiated Transactions		B2C Transactions		B2B Transactions		Total
Sr.No.	Application Name	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
1	Phone Pe #	8,102.44	11,91,303.98	0.00	0.00	0.00	0.00	8,102.44	11,91,303.98
2	Google Pay #	6,183.91	8,26,845.07	0.00	0.00	0.00	0.00	6,183.91	8,26,845.07
3	Paytm #	1,152.34	1,26,313.45	0.00	0.00	0.00	0.00	1,152.34	1,26,313.45
4	Navi #	242.83	13,221.33	0.00	0.00	0.00	0.00	242.83	13,221.33
5	Cred #	137.44	49,482.95	0.00	0.00	0.00	0.00	137.44	49,482.95
6	Axis Bank Apps	18.90	4,804.76	107.71	2,961.58	0.01	2.83	126.62	7,769.17
7	super.money #	124.83	4,565.57	0.00	0.00	0.00	0.00	124.83	4,565.57
8	Amazon Pay #	99.95	9,843.47	0.00	0.00	0.00	0.00	99.95	9,843.47
9	FamApp by Trio #	79.01	896.25	0.00	0.00	0.00	0.00	79.01	896.25
10	Whatsapp #	60.99	4,550.41	0.00	0.00	0.00	0.00	60.99	4,550.41
11	ICICI Bank Apps	56.13	17,185.89	0.01	11.03	2.10	1,731.71	58.23	18,928.62
12	Kotak Mahindra Bank Apps	53.71	7,489.75	0.00	0.00	0.00	0.00	53.71	7,489.75
13	HDFC Bank Apps	40.42	11,081.87	9.17	3.86	0.01	0.69	49.60	11,086.42
14	Yes Bank Apps	41.18	8,859.55	0.00	0.00	0.38	17.71	41.57	8,877.26
15	BHIM #	33.88	9,333.77	0.00	0.00	0.00	0.00	33.88	9,333.77
16	Mobikwik #	23.66	3,811.43	0.00	0.00	0.00	0.00	23.66	3,811.43
17	Airtel Payments Bank Apps	20.96	1,498.77	0.00	0.00	0.00	0.05	20.96	1,498.83
18	Groww #	15.40	11,200.31	0.00	0.00	0.00	0.00	15.40	11,200.31
19	India Post Payments Bank Apps	12.57	1,509.59	0.00	0.00	0.00	0.00	12.57	1,509.59
20	State Bank of India Apps	12.49	3,515.63	0.00	0.00	0.00	0.00	12.49	3,515.63
21	IDFC Bank Apps	11.77	2,283.02	0.00	0.00	0.00	0.02	11.77	2,283.04
22	RBL Bank Apps	8.50	1,411.19	0.00	0.00	0.12	6.95	8.62	1,418.15
23	Samsung Pay #	8.57	608.41	0.00	0.00	0.00	0.00	8.57	608.41
24	Bajaj Finserv #	8.19	1,649.36	0.00	0.00	0.00	0.00	8.19	1,649.36
25	Pop Club #	8.10	431.96	0.00	0.00	0.00	0.00	8.10	431.96
26	Slice #	7.88	569.95	0.00	0.00	0.00	0.00	7.88	569.95
27	Flipkart UPI #	7.58	393.64	0.00	0.00	0.00	0.00	7.58	393.64
28	Jupiter Money #	6.31	913.95	0.00	0.00	0.00	0.00	6.31	913.95
29	Federal Bank Apps	4.30	744.89	0.00	0.00	0.00	0.00	4.30	744.89
30	Jio Payments Bank Apps	3.66	293.42	0.00	0.00	0.00	0.00	3.66	293.42
31	Punjab National Bank Apps	3.45	864.80	0.00	0.00	0.00	0.00	3.45	864.80
32	Canara Bank Apps	3.36	884.57	0.00	0.00	0.00	0.00	3.36	884.57
33	Deutsche Bank Apps	3.31	322.65	0.00	0.00	0.00	0.10	3.32	322.75
34	Fi Money #	3.25	401.64	0.00	0.00	0.00	0.00	3.25	401.64
35	Indian Bank Apps	2.07	437.00	0.00	0.00	0.00	0.00	2.07	437.00
36	Timepay #	1.80	22.39	0.00	0.00	0.00	0.00	1.80	22.39
37	Suryoday Bank Apps	1.72	320.78	0.00	0.00	0.02	2.94	1.74	323.72
38	Jammu and Kashmir Bank Apps	1.62	212.89	0.00	0.00	0.00	0.00	1.62	212.89
39	Omni Card	1.49	96.00	0.00	0.00	0.00	0.00	1.49	96.00
40	Central Bank of India Apps	1.34	237.42	0.00	0.00	0.00	0.00	1.34	237.42
41	Bank of Baroda Apps	1.23	442.03	0.00	0.00	0.00	0.00	1.23	442.03
42	DBS Digibank Apps	1.12	224.40	0.00	0.00	0.01	1.09	1.13	225.49
43	Aditya Birla Capital Digital #	0.93	39.03	0.00	0.00	0.00	0.00	0.93	39.03
44	Kiwi #	0.82	141.60	0.00	0.00	0.00	0.00	0.82	141.60
45	HSBC Bank Apps	0.82	201.55	0.00	0.08	0.00	0.17	0.82	201.79
46	Union Bank Apps	0.75	257.23	0.00	0.00	0.00	0.00	0.75	257.23
47	One Card #	0.70	799.37	0.00	0.00	0.00	0.00	0.70	799.37
48	South Indian Bank Apps	0.65	192.73	0.00	0.00	0.00	0.00	0.65	192.73
49	Digikhata	0.64	194.07	0.00	0.00	0.00	0.00	0.64	194.07
50	Ind Money #	0.63	293.14	0.00	0.00	0.00	0.00	0.63	293.14
51	Shri Ram One #	0.60	63.97	0.00	0.00	0.00	0.00	0.60	63.97
52	Fino Payments Bank Apps	0.59	78.97	0.00	0.00	0.00	0.00	0.59	78.97
53	AU Small Finance Bank Apps	0.50	154.34	0.00	0.00	0.00	0.01	0.50	154.35
54	UCO Bank Apps	0.34	85.35	0.00	0.00	0.00	0.00	0.34	85.35
55	Tata Neu #	0.30	89.22	0.00	0.00	0.00	0.00	0.30	89.22
56	IndusInd Bank Apps	0.26	58.26	0.00	0.00	0.00	0.00	0.26	58.26
57	Indian Overseas Bank Apps	0.25	66.56	0.00	0.00	0.00	0.00	0.25	66.56
58	Karnataka Bank Apps	0.25	52.98	0.00	0.00	0.00	0.00	0.25	52.98
59	ESAF Small Finance Bank Apps	0.24	26.70	0.00	0.00	0.00	0.00	0.24	26.70
60	Bank of India Apps	0.24	78.25	0.00	0.00	0.00	0.00	0.24	78.25
61	True Balance	0.23	9.01	0.00	0.00	0.00	0.00	0.23	9.01
62	Bharat Pe #	0.21	19.64	0.00	0.00	0.00	0.00	0.21	19.64
63	Standard Chartered Bank Apps	0.19	123.84	0.00	0.00	0.00	0.05	0.20	123.89
64	Salary Se #	0.16	7.76	0.00	0.00	0.00	0.00	0.16	7.76
65	Dhani	0.15	7.72	0.00	0.00	0.00	0.00	0.15	7.72
66	Money View #	0.12	9.77	0.00	0.00	0.00	0.00	0.12	9.77
67	Rapipay	0.11	13.96	0.00	0.00	0.00	0.00	0.11	13.96
68	IDBI Bank Apps	0.11	41.84	0.00	0.00	0.00	0.00	0.11	41.84
69	Niyo Global #	0.10	48.75	0.00	0.00	0.00	0.00	0.10	48.75
70	Ultracash #	0.09	6.74	0.00	0.00	0.00	0.00	0.09	6.74
71	Kredit.Pe #	0.09	11.04	0.00	0.00	0.00	0.00	0.09	11.04
72	City Union Bank Apps	0.08	29.52	0.00	0.00	0.00	0.00	0.08	29.52
73	Karur Vysya Bank Apps	0.08	29.32	0.00	0.00	0.00	0.00	0.08	29.32
74	Tamilnad Mercantile Bank Apps	0.08	26.96	0.00	0.00	0.00	0.00	0.08	26.96
75	Spice Money	0.08	7.67	0.00	0.00	0.00	0.00	0.08	7.67
76	NSDL Payments Bank Apps	0.07	8.35	0.00	0.00	0.00	0.00	0.07	8.35
77	Genwise #	0.05	29.81	0.00	0.00	0.00	0.00	0.05	29.81
78	Bank of Maharashtra Apps	0.04	15.22	0.00	0.00	0.00	0.00	0.04	15.22
79	Equitas Small Finance Bank Apps	0.04	28.47	0.00	0.00	0.00	0.00	0.04	28.47
80	Cheq	0.03	2.39	0.00	0.00	0.00	0.00	0.03	2.39
81	Punjab Sind Bank Apps	0.03	11.60	0.00	0.00	0.00	0.00	0.03	11.60
82	Freo #	0.02	1.55	0.00	0.00	0.00	0.00	0.02	1.55
83	Others	8.51	1,366.16	0.00	0.00	0.16	7.01	8.66	1,373.16

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 20,000 is included under ‘Other Apps’.
BHIM Volume is inclusive of *99# volume.
WhatsApp*: Limit restrictions on user onboarding has been removed since 31^st Dec 2024
3rd Party Apps (TPAP) Volume Market Share statistics excludes the cross-border transactions and new/recent features
On Us transactions of Airtel Payments Bank Apps have been incoroprated in B2B Payments
# Denotes 3rd Party Apps (TPAP)

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)
Jan-25	16,996.00	23,48,037.12	6,426.25	17,03,333.03	10,569.75	6,44,704.09

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 (January'25)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Axis Bank Ltd.	5,954.78	92.28%	7.41%	0.31%
2	Yes Bank Ltd.	5,406.59	88.09%	11.69%	0.23%
3	ICICI Bank Ltd.	3,268.27	91.07%	8.70%	0.23%
4	HDFC Bank Ltd.	1,880.42	93.82%	6.06%	0.12%
5	State Bank of India	1,787.72	94.63%	5.08%	0.29%
6	Tri O Tech Solutions Private Limited	78.71	100.00%	0.00%	0.00%
7	Kotak Mahindra Bank	54.08	100.00%	0.00%	0.00%
8	National Payments Corporation of India	41.96	93.25%	6.45%	0.31%
9	Airtel Payments Bank Limited	21.89	95.81%	4.06%	0.13%
10	RBL Bank Ltd.	17.47	97.38%	2.48%	0.14%
11	IDFC Bank Ltd.	12.61	99.70%	0.30%	0.00%
12	India Post Payments Bank Limited	12.57	100.00%	0.00%	0.00%
13	One Mobikwik Systems Limited	9.80	100.00%	0.00%	0.00%
14	Federal Bank Ltd.	7.79	98.68%	1.27%	0.06%
15	North East Small Finance Bank Acquirer	6.96	96.03%	3.83%	0.14%

UPI Payee PSP Performance

UPI Payee PSP Performance (January'25)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd.	9,744.80	88.81%	10.96%	0.24%
2	Axis Bank Ltd.	3,353.68	94.17%	5.57%	0.26%
3	ICICI Bank Ltd.	1,709.15	93.43%	6.31%	0.26%
4	HDFC Bank Ltd.	1,053.52	93.67%	6.09%	0.23%
5	State Bank of India	977.23	94.64%	5.06%	0.30%
6	Federal Bank Ltd.	330.41	96.78%	2.97%	0.25%
7	Airtel Payments Bank Limited	156.81	94.53%	5.28%	0.20%
8	Canara Bank	151.47	94.91%	4.85%	0.24%
9	Indusind Bank Ltd.	107.35	92.41%	7.37%	0.22%
10	RBL Bank Ltd.	77.80	91.78%	7.98%	0.24%
11	Kotak Mahindra Bank	61.33	91.94%	7.84%	0.21%
12	Fino Payments Bank Ltd.	50.16	89.92%	9.80%	0.29%
13	One Mobikwik Systems Limited	49.43	96.48%	3.33%	0.19%
14	Tri O Tech Solutions Private Limited	39.67	92.97%	6.72%	0.30%
15	Indian Overseas Bank	29.99	94.13%	5.65%	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.
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 - Jan 25

UPI Merchant Category-wise Classification - Jan'25
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5814	Fast food restaurants
	5812	Eating places and restaurants
	4814	Telecommunication services, includinglocal and long distance calls
	5541	Service stations (with or without ancillary services)
	5816	Digital Goods: Games
	5993	Cigar shops and stands
	5912	Drug stores and pharmacies
	5462	Bakeries
	4900	Utilities electric, gas, water and sanitary
Medium Transacting Categories	5451	Dairies
	7322	Debt collection agencies
	5422	Freezer and locker meat provisioners
	5921	Package shops beer, wine and liquor
	5813	Drinking places (alcoholic beverages)bars, taverns, night-clubs
	5441	Candy, nut and confectionery shops
	9399	Government services not elsewhere classified
	5691	Mens and womens clothing shops
	5137	Mens, womens and childrens uniforms andcommercial clothing
	4112	Passenger railways
All Other Categories	6211	Securities brokers and dealers
	7230	Beauty and barber shops
	7622	Electronics repair shops
	5732	Electronics shops
	5262	Online Marketplaces
	5311	Department stores
	4121	Taxi-cabs and limousines
	5331	Variety stores
	5412	Purchase of digital gold
	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 Member Remitter Performance (December'24)

UPI Remitter Members - Top 50 Members (Dec'24)
Sr. No.	UPI Remitter Members (Dec-2024)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank of India	4,540.13	92.94%	6.58%	0.48%	13.76	93.82%
2	HDFC Bank Ltd.	1,403.46	93.89%	6.02%	0.09%	4.40	99.79%
3	Bank of Baroda	1,125.93	91.71%	8.19%	0.10%	3.32	98.96%
4	Union Bank of India	1,070.69	91.91%	7.96%	0.13%	3.40	83.49%
5	Punjab National Bank	954.15	89.81%	9.28%	0.91%	3.59	88.47%
6	Kotak Mahindra Bank	872.07	90.25%	9.70%	0.05%	2.31	93.59%
7	Canara Bank	818.65	91.70%	7.62%	0.68%	3.60	68.86%
8	Axis Bank Ltd.	810.01	93.80%	6.17%	0.03%	1.93	98.02%
9	ICICI Bank Ltd.	700.67	95.17%	4.72%	0.11%	1.69	94.66%
10	Bank Of India	540.44	93.08%	6.82%	0.11%	1.75	92.16%
11	Indian Bank	524.93	92.51%	7.36%	0.13%	1.91	82.89%
12	Airtel Payments Bank Limited	521.02	87.15%	12.67%	0.18%	2.05	97.38%
13	India Post Payments Bank Ltd.	459.83	82.62%	13.15%	4.22%	4.54	32.85%
14	Indian Overseas Bank	257.21	92.36%	6.99%	0.65%	0.97	95.86%
15	Federal Bank Ltd.	245.26	91.87%	8.07%	0.06%	0.56	98.82%
16	Central Bank of India	244.52	85.92%	13.64%	0.43%	0.84	93.32%
17	UCO Bank	225.35	91.63%	8.24%	0.12%	0.80	88.67%
18	Bank of Maharashtra	188.42	92.05%	7.48%	0.48%	0.76	69.76%
19	IDBI Bank Ltd.	186.20	92.96%	6.78%	0.26%	0.67	79.53%
20	Indusind Bank Ltd.	185.78	88.29%	11.53%	0.18%	0.73	79.14%
21	Fino Payments Bank Ltd.	175.75	92.78%	7.14%	0.08%	0.69	93.93%
22	Yes Bank Ltd.	167.84	83.65%	15.97%	0.37%	0.60	54.97%
23	Karnataka Bank	132.76	92.27%	7.65%	0.08%	0.36	98.50%
24	IDFC Bank Ltd.	100.59	90.89%	9.08%	0.03%	0.27	95.77%
25	Karur Vysya Bank	83.14	92.16%	7.44%	0.39%	0.24	87.62%
26	The Jammu & Kashmir Bank Limited	81.64	90.33%	5.78%	3.89%	1.36	51.28%
27	Bandhan Bank limited	76.61	92.36%	5.30%	2.34%	0.66	63.34%
28	Tri O Tech Solutions Private Limited	75.47	100.00%	0.00%	0.00%	-	0.00%
29	AU Small Finance Bank	74.62	85.93%	13.75%	0.32%	0.33	69.12%
30	The South Indian Bank Limited	66.90	94.45%	5.46%	0.09%	0.15	98.66%
31	Punjab and Sind Bank	49.27	90.85%	8.92%	0.23%	0.23	91.75%
32	City Union Bank	48.89	92.29%	7.58%	0.13%	0.10	99.74%
33	Ujjivan Small Finance Bank Limited	48.39	94.34%	4.94%	0.72%	0.23	67.99%
34	Tamilnad Mercantile Bank Limited	46.51	92.08%	7.65%	0.27%	0.12	82.67%
35	Kerala Gramin Bank	41.21	88.28%	6.77%	4.95%	0.67	56.93%
36	JIO Payments Bank Ltd	33.99	87.33%	11.83%	0.83%	0.18	97.31%
37	Baroda U.P. Bank	33.15	91.84%	6.86%	1.29%	0.22	64.08%
38	Equitas Small Finance Bank	32.91	91.17%	8.77%	0.06%	0.10	97.59%
39	Karnataka Gramin Bank	32.82	86.77%	8.87%	4.36%	0.51	50.11%
40	DBS Bank India Limited	30.61	92.52%	7.38%	0.10%	0.08	96.48%
41	Andhra Pradesh Grameena Vikas Bank	29.81	84.21%	14.15%	1.64%	0.20	54.38%
42	ESAF Small Finance Bank Ltd	29.55	95.40%	4.57%	0.03%	0.08	98.59%
43	Maharashtra Gramin Bank	29.54	84.90%	12.07%	3.03%	0.16	53.16%
44	Rajasthan Marudhara Gramin Bank	29.43	85.89%	12.33%	1.79%	0.18	62.47%
45	RBL Bank Ltd.	28.58	92.56%	7.22%	0.22%	0.09	71.83%
46	NSDL Payments Bank Limited	28.19	85.11%	13.49%	1.40%	0.24	56.65%
47	Saraswat Co-operative Bank	28.07	93.60%	6.03%	0.37%	0.11	72.60%
48	Standard Chartered Bank	27.55	94.79%	3.92%	1.30%	0.07	84.70%
49	Andhra Pragathi Grameena Bank	26.11	75.39%	13.44%	11.16%	1.03	69.79%
50	Sarva Haryana Gramin Bank	21.42	89.43%	6.11%	4.46%	0.38	60.41%

UPI Top 50 Member Beneficiary Performance (December'24)

UPI Beneficiary Members - Top 50 Members (Dec'24)
Sr.No.	UPI Beneficiary Members (Dec-2024)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Yes Bank Ltd.	6,652.85	99.99%	0.01%	0.00%	0.00%
2	Axis Bank Ltd.	1,702.85	99.84%	0.15%	0.01%	0.01%
3	State Bank of India	1,701.49	99.49%	0.13%	0.38%	0.10%
4	HDFC Bank Ltd.	796.13	99.09%	0.85%	0.06%	0.04%
5	ICICI Bank Ltd.	627.57	99.60%	0.35%	0.05%	0.03%
6	Bank of Baroda	454.56	99.89%	0.06%	0.05%	0.07%
7	Canara Bank	449.07	99.17%	0.32%	0.51%	0.21%
8	Union Bank of India	427.07	99.85%	0.10%	0.05%	0.04%
9	Federal Bank Ltd.	409.53	99.82%	0.15%	0.03%	0.00%
10	Punjab National Bank	383.19	99.31%	0.31%	0.38%	0.36%
11	Airtel Payments Bank Limited	370.89	99.25%	0.46%	0.29%	0.04%
12	Kotak Mahindra Bank	325.18	98.82%	1.17%	0.01%	0.01%
13	Indian Bank	240.43	99.46%	0.42%	0.12%	0.12%
14	Bank Of India	233.85	99.14%	0.79%	0.07%	0.04%
15	India Post Payment Bank	201.40	96.06%	0.92%	3.01%	0.39%
16	Indusind Bank Ltd.	158.75	99.60%	0.30%	0.10%	0.05%
17	Indian Overseas Bank	131.63	99.12%	0.59%	0.29%	0.33%
18	Central Bank of India	112.58	99.39%	0.48%	0.13%	0.12%
19	Fino Payments Bank Ltd.	108.05	97.53%	2.41%	0.06%	0.02%
20	Bank of Maharashtra	100.67	99.33%	0.31%	0.37%	0.14%
21	UCO Bank	100.39	99.53%	0.41%	0.05%	0.02%
22	IDBI Bank Ltd.	80.48	99.56%	0.26%	0.18%	0.09%
23	RBL Bank Ltd.	64.54	99.61%	0.27%	0.13%	0.09%
24	Karnataka Bank	63.01	99.22%	0.67%	0.11%	0.01%
25	One Mobikwik Systems Limited	47.10	99.98%	0.01%	0.01%	0.00%
26	Bandhan Bank limited	45.22	97.37%	0.21%	2.41%	0.58%
27	The Jammu & Kashmir Bank Limited	44.08	98.29%	0.46%	1.25%	0.56%
28	IDFC Bank Ltd.	43.59	99.14%	0.81%	0.05%	0.01%
29	The South Indian Bank Limited	42.13	99.84%	0.11%	0.05%	0.01%
30	Karur Vysya Bank	40.67	99.26%	0.38%	0.36%	0.03%
31	Tri O Tech Solutions Private Limited	36.48	95.97%	4.02%	0.00%	0.00%
32	AU Small Finance Bank	35.71	99.01%	0.74%	0.26%	0.09%
33	Tamilnad Mercantile Bank Limited	32.23	99.70%	0.08%	0.22%	0.11%
34	City Union Bank	27.19	99.46%	0.44%	0.11%	0.00%
35	Ujjivan Small Finance Bank	24.91	99.33%	0.22%	0.45%	0.33%
36	Jio Payments Bank	24.55	99.12%	0.63%	0.25%	0.15%
37	Punjab and Sind Bank	23.93	97.65%	2.14%	0.21%	0.03%
38	Kerala Gramin Bank	23.08	95.51%	0.95%	3.54%	1.44%
39	CITI Bank	19.75	99.49%	0.42%	0.09%	0.05%
40	Baroda U.P. Bank	16.63	98.84%	0.32%	0.84%	0.22%
41	Karnataka Gramin Bank	15.17	96.52%	0.74%	2.74%	1.28%
42	Equitas Bank	14.75	96.50%	3.07%	0.42%	0.03%
43	Andhra Pradesh Grameena Vikas Bank	14.14	93.69%	0.30%	6.01%	0.30%
44	ESAF Small Finance Bank Ltd.	13.83	99.77%	0.18%	0.05%	0.01%
45	Maharashtra Gramin Bank	13.00	97.09%	0.25%	2.66%	0.25%
46	Rajasthan Marudhara Gramin Bank	12.41	99.01%	0.31%	0.68%	0.27%
47	Andhra Pragathi Grameena Bank	11.85	92.80%	0.42%	6.78%	0.12%
48	NSDL Payments Bank Limited	11.85	97.96%	1.18%	0.86%	0.33%
49	Suryodaya Small Finance Bank Limited	11.30	97.38%	1.89%	0.73%	0.47%
50	DBS Bank India Limited	11.28	98.75%	1.16%	0.09%	0.04%

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 (Dec'24)

UPI Apps (Dec'24)
Sr.No.	Application Name	Customer Initiated Transactions		B2C Transactions		B2B Transactions		Total
Sr.No.	Application Name	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
1	PhonePe #	7,984.05	11,76,300.32	0.00	0.00	0.00	0.00	7,984.05	11,76,300.32
2	Google Pay #	6,140.47	8,22,598.36	0.00	0.00	0.00	0.00	6,140.47	8,22,598.36
3	Paytm #	1,150.96	1,25,739.66	0.00	0.00	0.00	0.00	1,150.96	1,25,739.66
4	Navi #	202.53	11,317.09	0.00	0.00	0.00	0.00	202.53	11,317.09
5	Cred #	143.07	50,979.94	0.00	0.00	0.00	0.00	143.07	50,979.94
6	Axis Bank Apps	21.96	4,515.13	106.39	1,642.74	0.01	2.02	128.36	6,159.90
7	super.money #	101.81	3,866.39	0.00	0.00	0.00	0.00	101.81	3,866.39
8	Amazon Pay #	91.94	9,330.97	0.00	0.00	0.00	0.00	91.94	9,330.97
9	FamApp by Trio #	75.74	870.68	0.00	0.00	0.00	0.00	75.74	870.68
10	ICICI Bank Apps	59.52	19,670.88	0.01	10.54	2.33	2,223.13	61.86	21,904.55
11	Whatsapp #	57.85	4,348.19	0.00	0.00	0.00	0.00	57.85	4,348.19
12	Kotak Mahindra Bank Apps	52.06	7,286.24	0.00	0.00	0.00	0.00	52.06	7,286.24
13	HDFC Bank Apps	41.47	12,525.39	0.36	0.40	0.01	0.79	41.84	12,526.57
14	Yes Bank Apps	40.63	9,201.80	0.00	0.00	0.35	15.16	40.98	9,216.96
15	BHIM #	30.22	9,170.75	0.00	0.00	0.00	0.00	30.22	9,170.75
16	Airtel Payments Bank Apps	20.29	1,497.28	0.00	0.01	0.00	0.04	20.29	1,497.32
17	Mobikwik #	20.26	3,478.58	0.00	0.00	0.00	0.00	20.26	3,478.58
18	Groww #	13.78	9,341.27	0.00	0.00	0.00	0.00	13.78	9,341.27
19	Flipkart UPI #	12.75	606.35	0.00	0.00	0.00	0.00	12.75	606.35
20	Slice #	12.06	882.04	0.00	0.00	0.00	0.00	12.06	882.04
21	State Bank of India Apps	12.05	3,411.38	0.00	0.00	0.00	0.00	12.05	3,411.38
22	India Post Payments Bank Apps	10.76	1,337.10	0.00	0.00	0.00	0.00	10.76	1,337.10
23	IDFC Bank Apps	9.27	2,103.11	0.00	0.00	0.01	0.48	9.27	2,103.60
24	Samsung Pay #	8.59	614.74	0.00	0.00	0.00	0.00	8.59	614.74
25	Bajaj Finserv #	8.55	1,652.53	0.00	0.00	0.00	0.00	8.55	1,652.53
26	RBL Bank Apps	8.29	1,504.80	0.00	0.00	0.08	6.63	8.37	1,511.43
27	Jupiter Money #	6.41	910.03	0.00	0.00	0.00	0.00	6.41	910.03
28	Pop Club #	6.20	391.63	0.00	0.00	0.00	0.00	6.20	391.63
29	Federal Bank Apps	3.94	673.09	0.00	0.00	0.00	0.00	3.94	673.09
30	Jio Payments Bank Apps	3.46	287.81	0.00	0.00	0.00	0.00	3.46	287.81
31	Deutsche Bank Apps	3.37	296.77	0.00	0.00	0.00	0.10	3.37	296.88
32	Punjab National Bank Apps	3.32	792.81	0.00	0.00	0.00	0.00	3.32	792.81
33	Fi Money #	3.32	412.10	0.00	0.00	0.00	0.00	3.32	412.10
34	Canara Bank Apps	3.20	848.14	0.00	0.00	0.00	0.00	3.20	848.14
35	Indian Bank Apps	2.21	435.17	0.00	0.00	0.00	0.00	2.21	435.17
36	Omni Card	1.45	85.46	0.00	0.00	0.00	0.00	1.45	85.46
37	Central Bank of India Apps	1.25	221.54	0.00	0.00	0.00	0.00	1.25	221.54
38	Jammu and Kashmir Bank Apps	1.13	169.43	0.00	0.00	0.00	0.00	1.13	169.43
39	Bank of Baroda Apps	1.12	431.50	0.00	0.00	0.00	0.00	1.12	431.50
40	DBS Digibank Apps	1.06	218.50	0.00	0.00	0.01	1.15	1.07	219.66
41	Timepay #	1.01	13.49	0.00	0.00	0.00	0.00	1.01	13.49
42	Suryoday Bank Apps	0.88	85.71	0.00	0.00	0.02	0.62	0.90	86.33
43	Aditya Birla Capital Digital #	0.83	37.24	0.00	0.00	0.00	0.00	0.83	37.24
44	Kiwi #	0.81	134.02	0.00	0.00	0.00	0.00	0.81	134.02
45	Union Bank Apps	0.76	255.63	0.00	0.00	0.00	0.00	0.76	255.63
46	HSBC Bank Apps	0.73	194.81	0.00	0.08	0.00	0.12	0.74	195.01
47	South Indian Bank Apps	0.63	181.57	0.00	0.00	0.00	0.00	0.63	181.57
48	Shri Ram One #	0.61	57.11	0.00	0.00	0.00	0.00	0.61	57.11
49	Digikhata	0.56	170.77	0.00	0.00	0.00	0.00	0.56	170.77
50	Fino Payments Bank Apps	0.55	72.04	0.00	0.00	0.00	0.00	0.55	72.04
51	One Card #	0.50	549.10	0.00	0.00	0.00	0.00	0.50	549.10
52	AU Small Finance Bank Apps	0.49	151.24	0.00	0.00	0.00	0.00	0.49	151.24
53	True Balance	0.41	21.49	0.00	0.00	0.00	0.00	0.41	21.49
54	IndusInd Bank Apps	0.34	85.71	0.00	0.00	0.00	1.34	0.34	87.05
55	UCO Bank Apps	0.32	76.33	0.00	0.00	0.00	0.00	0.32	76.33
56	Tata Neu #	0.30	81.20	0.00	0.00	0.00	0.00	0.30	81.20
57	Indian Overseas Bank Apps	0.23	59.70	0.00	0.00	0.00	0.00	0.23	59.70
58	Bank of India Apps	0.22	68.38	0.00	0.00	0.00	0.00	0.22	68.38
59	Karnataka Bank Apps	0.22	47.38	0.00	0.00	0.00	0.00	0.22	47.38
60	Standard Chartered Bank Apps	0.20	123.15	0.00	0.00	0.00	0.04	0.20	123.19
61	ESAF Small Finance Bank Apps	0.19	20.50	0.00	0.00	0.00	0.00	0.19	20.50
62	Dhani	0.14	12.18	0.00	0.00	0.00	0.00	0.14	12.18
63	Bharat Pe #	0.11	13.25	0.00	0.00	0.00	0.00	0.11	13.25
64	Rapipay	0.10	12.52	0.00	0.00	0.00	0.00	0.10	12.52
65	Niyo Global #	0.10	56.00	0.00	0.00	0.00	0.00	0.10	56.00
66	IDBI Bank Apps	0.10	35.31	0.00	0.00	0.00	0.00	0.10	35.31
67	Salary Se #	0.10	4.80	0.00	0.00	0.00	0.00	0.10	4.80
68	Ultracash #	0.09	6.16	0.00	0.00	0.00	0.00	0.09	6.16
69	Ind Money #	0.08	28.50	0.00	0.00	0.00	0.00	0.08	28.50
70	City Union Bank Apps	0.08	28.56	0.00	0.00	0.00	0.00	0.08	28.56
71	Tamilnad Mercantile Bank Apps	0.08	25.95	0.00	0.00	0.00	0.00	0.08	25.95
72	Karur Vysya Bank Apps	0.07	24.98	0.00	0.00	0.00	0.00	0.07	24.98
73	NSDL Payments Bank Apps	0.07	8.36	0.00	0.00	0.00	0.00	0.07	8.36
74	Spice Money	0.06	5.97	0.00	0.00	0.00	0.00	0.06	5.97
75	Money View #	0.06	4.42	0.00	0.00	0.00	0.00	0.06	4.42
76	Kredit.Pe #	0.05	6.27	0.00	0.00	0.00	0.00	0.05	6.27
77	Equitas Small Finance Bank Apps	0.04	28.67	0.00	0.00	0.00	0.00	0.04	28.67
78	Bank of Maharashtra Apps	0.04	12.79	0.00	0.00	0.00	0.00	0.04	12.79
79	Genwise #	0.03	31.68	0.00	0.00	0.00	0.00	0.03	31.68
80	Cheq	0.03	2.43	0.00	0.00	0.00	0.00	0.03	2.43
81	Freo #	0.02	1.72	0.00	0.00	0.00	0.00	0.02	1.72
82	Punjab Sind Bank Apps	0.02	7.78	0.00	0.00	0.00	0.00	0.02	7.78
83	Others	3.23	483.55	0.00	0.00	0.15	6.71	3.39	490.26

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 20,000 is included under ‘Other Apps’.
BHIM Volume is inclusive of *99# volume.
WhatsApp*: Limit restrictions on user onboarding has been removed since 31^st Dec 2024
3rd Party Apps (TPAP) Volume Market Share statistics excludes the cross-border transactions and new/recent features
On Us transactions of Airtel Payments Bank Apps have been incoroprated in B2B Payments
# Denotes 3rd Party Apps (TPAP)

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)
Dec-24	16,730.01	23,24,699.91	6,335.63	16,92,632.54	10,394.38	6,32,067.37

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 (December'24)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Axis Bank Ltd.	6,025.68	93.20%	6.64%	0.16%
2	Yes Bank Ltd.	4,945.56	88.57%	11.30%	0.12%
3	ICICI Bank Ltd.	3,082.57	91.84%	8.01%	0.15%
4	State Bank of India	1,939.67	95.46%	4.38%	0.16%
5	HDFC Bank Ltd.	1,876.39	94.19%	5.70%	0.11%
6	Tri O Tech Solutions Private Limited	75.47	100.00%	0.00%	0.00%
7	Kotak Mahindra Bank	52.43	100.00%	0.00%	0.00%
8	National Payments Corporation of India	36.21	93.34%	6.42%	0.24%
9	Airtel Payments Bank Limited	21.12	96.14%	3.77%	0.09%
10	RBL Bank Ltd.	16.71	97.50%	2.41%	0.09%
11	India Post Payments Bank Limited	10.76	100.00%	0.00%	0.00%
12	IDFC Bank Ltd.	10.09	99.61%	0.38%	0.00%
13	One Mobikwik Systems Limited	8.59	100.00%	0.00%	0.00%
14	Federal Bank Ltd.	7.49	98.69%	1.28%	0.03%
15	Amazon	5.76	100.00%	0.00%	0.00%

UPI Payee PSP Performance

UPI Payee PSP Performance (December'24)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd.	9,422.57	89.88%	9.98%	0.14%
2	Axis Bank Ltd.	3,353.86	94.59%	5.26%	0.15%
3	ICICI Bank Ltd.	1,698.86	93.95%	5.89%	0.15%
4	HDFC Bank Ltd.	1,030.36	94.25%	5.61%	0.14%
5	State Bank of India	967.93	95.17%	4.66%	0.16%
6	Federal Bank Ltd.	335.98	97.00%	2.86%	0.14%
7	Canara Bank	140.46	95.19%	4.67%	0.14%
8	Airtel Payments Bank Limited	141.75	95.03%	4.85%	0.12%
9	Indusind Bank Ltd.	103.60	92.34%	7.49%	0.17%
10	RBL Bank Ltd.	64.53	92.88%	6.96%	0.16%
11	Kotak Mahindra Bank	55.88	92.88%	6.98%	0.14%
12	Fino Payments Bank Ltd.	49.66	90.00%	9.82%	0.18%
13	One Mobikwik Systems Limited	48.69	96.67%	3.21%	0.12%
14	Tri O Tech Solutions Private Limited	37.29	93.61%	6.20%	0.19%
15	Bank of Maharashtra	33.55	93.46%	6.40%	0.14%

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 - Dec 24

UPI Merchant Category-wise Classification - Dec'24
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5814	Fast food restaurants
	5812	Eating places and restaurants
	4814	Telecommunication services, including local and long distance calls
	5541	Service stations (with or without ancillary services)
	5816	Digital Goods: Games
	5993	Cigar shops and stands
	5912	Drug stores and pharmacies
	5462	Bakeries
	4900	Utilities electric, gas, water and sanitary
Medium Transacting Categories	5451	Dairies
	7322	Debt collection agencies
	5921	Package shops beer, wine and liquor
	5422	Freezer and locker meat provisioners
	5813	Drinking places (alcoholic beverages) bars, taverns, night-clubs, cocktail lounges
	5441	Candy, nut and confectionery shops
	5691	Mens and womens clothing shops
	5137	Mens, womens and childrens uniforms and commercial clothing
	9399	Government services not elsewhere classified
	7622	Electronics repair shops
All Other Categories	4112	Passenger railways
	7230	Beauty and barber shops
	5732	Electronics shops
	6211	Securities brokers and dealers
	5262	Online Marketplaces
	4121	Taxi-cabs and limousines
	5311	Department stores
	5331	Variety stores
	7011	Lodging hotels, motels and resorts
	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 Member Remitter Performance (November'24)

UPI Remitter Members - Top 50 Members (Nov'24)
Sr. No.	UPI Remitter Members (Nov-2024)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank of India	4,182.13	93.11%	6.32%	0.57%	11.62	95.24%
2	HDFC Bank Ltd.	1,305.92	94.07%	5.83%	0.09%	3.64	98.16%
3	Bank of Baroda	1,035.67	92.10%	7.85%	0.04%	2.98	97.92%
4	Union Bank Of India	990.08	92.48%	7.29%	0.23%	3.33	79.15%
5	Punjab national Bank	881.89	91.05%	8.85%	0.10%	2.69	98.84%
6	Kotak Mahindra Bank	804.07	90.49%	9.28%	0.23%	2.31	90.77%
7	Axis Bank Ltd.	764.59	94.20%	5.78%	0.01%	1.93	98.27%
8	Canara Bank	760.29	92.32%	7.25%	0.43%	2.87	79.06%
9	ICICI Bank Ltd.	651.55	95.26%	4.56%	0.18%	1.65	96.03%
10	Bank Of India	497.26	91.80%	6.55%	1.65%	3.73	46.64%
11	Indian Bank	484.60	92.78%	7.05%	0.17%	1.58	84.18%
12	Airtel Payments Bank Ltd.	471.39	87.28%	11.79%	0.93%	2.74	82.86%
13	India Post Payments Bank Ltd.	410.33	86.44%	11.98%	1.58%	1.80	68.20%
14	Indian Overseas Bank	232.93	93.11%	6.67%	0.22%	0.88	91.20%
15	Federal Bank Ltd.	230.20	91.80%	8.01%	0.19%	0.57	97.78%
16	Central Bank of India	223.46	86.59%	12.34%	1.07%	0.90	80.64%
17	UCO Bank	206.37	91.88%	8.02%	0.10%	0.68	89.84%
18	Indusind Bank Ltd.	172.82	88.99%	10.73%	0.29%	0.64	88.52%
19	IDBI Bank Ltd.	171.56	93.05%	6.79%	0.16%	0.57	91.58%
20	Bank of Maharashtra	167.64	92.54%	7.31%	0.15%	0.49	89.66%
21	Fino Payments Bank Ltd.	161.47	92.82%	7.06%	0.12%	0.69	90.58%
22	YES Bank Ltd.	155.30	83.24%	16.36%	0.40%	0.52	58.31%
23	Karnataka Bank	122.37	91.67%	7.33%	1.01%	0.56	66.08%
24	IDFC Bank Ltd.	93.14	91.39%	8.41%	0.20%	0.16	0.29%
25	The Jammu & Kashmir Bank Limited	76.44	90.29%	5.42%	4.29%	1.42	17.72%
26	Karur Vysya Bank	76.29	92.70%	7.11%	0.19%	0.21	95.76%
27	Bandhan Bank limited	70.96	93.36%	5.09%	1.55%	0.39	88.49%
28	AU Small Finance Bank	70.55	88.57%	11.23%	0.20%	0.22	97.17%
29	Tri O Tech Solutions Private Limited	67.20	100.00%	0.00%	0.00%	#N/A	#N/A
30	The South Indian Bank Limited	62.85	94.65%	5.28%	0.07%	0.13	99.31%
31	Punjab and Sind Bank	45.44	91.51%	8.40%	0.10%	0.18	97.14%
32	Ujjivan Small Finance Bank Limited	45.21	94.64%	4.99%	0.38%	0.17	81.70%
33	City Union Bank	44.74	92.56%	7.28%	0.16%	0.10	99.52%
34	Tamilnad Mercantile Bank Limited	42.47	91.84%	7.70%	0.46%	0.13	75.60%
35	Kerala Gramin Bank	39.89	87.74%	6.37%	5.89%	0.74	64.31%
36	Equitas Small Finance Bank	31.78	91.99%	7.98%	0.03%	0.10	98.07%
37	Andhra Pradesh Grameena Vikas Bank	31.66	82.74%	11.59%	5.67%	0.36	65.41%
38	Karnataka Gramin Bank	30.31	88.07%	8.52%	3.41%	0.38	72.85%
39	Baroda U.P. Bank	29.74	91.65%	6.65%	1.69%	0.28	44.05%
40	JIO Payments Bank Ltd	28.80	87.77%	10.99%	1.24%	0.21	99.25%
41	DBS Bank India Limited	28.24	92.03%	7.53%	0.44%	0.11	71.54%
42	ESAF Small Finance Bank Ltd	27.19	95.50%	4.39%	0.11%	0.08	98.12%
43	Rajasthan Marudhara Gramin Bank	26.47	85.94%	11.80%	2.26%	0.11	81.31%
44	Standard Chartered Bank	25.87	95.57%	3.79%	0.64%	0.08	81.38%
45	Maharashtra Gramin Bank	25.80	86.35%	12.55%	1.09%	0.11	64.26%
46	Saraswat Co-operative Bank	25.49	93.87%	5.99%	0.14%	0.08	87.37%
47	NSDL Payments Bank Limited	24.28	86.08%	12.61%	1.31%	0.20	6.11%
48	RBL Bank Ltd.	23.47	91.69%	7.95%	0.35%	0.09	63.63%
49	Andhra Pragathi Grameena Bank	21.61	83.33%	10.78%	5.89%	0.38	53.99%
50	Sarva Haryana Gramin Bank	20.09	93.42%	6.14%	0.44%	0.11	68.48%

UPI Top 50 Member Beneficiary Performance (November'24)

UPI Beneficiary Members - Top 50 Members (Nov'24)
Sr.No.	UPI Beneficiary Members (Nov-2024)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Yes Bank Ltd	6,213.24	99.99%	0.01%	0.01%	0.00%
2	State Bank of India	1,566.68	99.50%	0.13%	0.38%	0.14%
3	Axis Bank	1,561.95	99.92%	0.07%	0.01%	0.01%
4	HDFC Bank	740.76	98.78%	0.97%	0.25%	0.02%
5	ICICI Bank	591.09	99.49%	0.41%	0.10%	0.05%
6	Canara Bank	427.61	99.27%	0.32%	0.33%	0.15%
7	Bank of Baroda	417.34	99.86%	0.06%	0.07%	0.04%
8	Union Bank Of India	395.19	99.73%	0.10%	0.17%	0.06%
9	Federal Bank	387.11	99.73%	0.21%	0.06%	0.00%
10	Punjab national Bank	356.82	99.71%	0.27%	0.01%	0.11%
11	Airtel Payments Bank	319.58	99.19%	0.29%	0.51%	0.21%
12	Kotak Mahindra Bank	294.25	98.52%	1.29%	0.18%	0.11%
13	Indian Bank	220.32	99.14%	0.71%	0.12%	0.08%
14	Bank Of India	215.19	97.84%	0.78%	1.38%	0.48%
15	India Post Payment Bank	183.87	98.71%	0.37%	0.91%	0.18%
16	Indusind Bank	152.52	99.40%	0.32%	0.28%	0.17%
17	Indian Overseas Bank	122.51	99.27%	0.62%	0.10%	0.26%
18	Central Bank of India	105.60	98.43%	1.01%	0.55%	0.60%
19	Fino Payments Bank Limited	93.78	95.72%	4.12%	0.16%	0.06%
20	UCO Bank	92.37	99.10%	0.39%	0.51%	0.03%
21	Bank of Maharashtra	85.17	99.63%	0.24%	0.13%	0.03%
22	IDBI Bank	73.44	99.61%	0.27%	0.12%	0.04%
23	Karnataka Bank	57.56	97.80%	0.69%	1.51%	0.18%
24	RBL Bank Limited	52.00	99.46%	0.43%	0.11%	0.06%
25	One Mobikwik Systems Limited	44.12	99.96%	0.01%	0.03%	0.00%
26	The Jammu & Kashmir Bank Limited	41.98	98.49%	0.23%	1.27%	1.12%
27	Bandhan Bank limited	41.87	98.54%	0.21%	1.26%	0.19%
28	IDFC First Bank Ltd	40.46	99.07%	0.89%	0.04%	0.01%
29	The South Indian Bank Limited	39.73	99.86%	0.11%	0.04%	0.01%
30	Karur Vysya Bank	37.20	99.62%	0.25%	0.13%	0.02%
31	AU small Finance Bank	34.50	99.18%	0.69%	0.13%	0.05%
32	Tri O Tech Solutions Private Limited	31.76	96.11%	3.88%	0.01%	0.00%
33	Tamilnad Mercantile Bank Limited	28.98	99.53%	0.09%	0.39%	0.10%
34	City Union Bank	24.61	99.41%	0.40%	0.19%	0.01%
35	Ujjivan Small Finance Bank	23.21	99.54%	0.20%	0.26%	0.16%
36	Kerala Gramin Bank	21.94	95.27%	0.93%	3.80%	1.49%
37	Punjab and Sind Bank	21.92	97.62%	2.28%	0.10%	0.01%
38	Jio Payments Bank	19.35	99.04%	0.55%	0.41%	0.35%
39	CITI Bank	18.46	99.41%	0.47%	0.13%	0.13%
40	Baroda UP Gramin Bank	15.14	98.54%	0.28%	1.18%	0.54%
41	Andhra Pradesh Grameena Vikas Bank	14.47	96.09%	0.30%	3.61%	0.26%
42	Pragathi Krishna Gramin Bank	13.99	97.27%	0.99%	1.74%	1.10%
43	Equitas Bank	13.26	98.22%	1.46%	0.32%	0.00%
44	ESAF Small Finance Bank Ltd.	12.77	99.70%	0.18%	0.12%	0.04%
45	Maharashtra Gramin Bank	11.55	98.92%	0.14%	0.95%	0.10%
46	Rajasthan Marudhara Gramin Bank	11.16	99.11%	0.33%	0.56%	0.08%
47	NSDL Payments Bank Limited	11.06	98.08%	1.19%	0.73%	0.31%
48	DBS Bank India Limited	10.59	98.35%	1.14%	0.50%	0.13%
49	Andhra Pragathi Grameena Bank	10.41	95.63%	0.24%	4.12%	0.27%
50	Sarva Haryana Gramin Bank	8.65	99.32%	0.36%	0.32%	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.
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 (Nov'24)

UPI Apps (Nov'24)
Sr.No.	Application Name	Customer Initiated Transactions		B2C Transactions		B2B Transactions		Total
Sr.No.	Application Name	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
1	PhonePe #	7,401.93	10,88,635.03	0.00	0.00	0.00	0.00	7,401.93	10,88,635.03
2	Google Pay #	5,739.12	7,64,639.66	0.00	0.00	0.00	0.00	5,739.12	7,64,639.66
3	Paytm (OCL) #	1,075.09	1,18,004.06	0.00	0.00	0.00	0.00	1,075.09	1,18,004.06
4	Navi #	152.95	8,806.45	0.00	0.00	0.00	0.00	152.95	8,806.45
5	Cred #	138.24	50,560.48	0.00	0.00	0.00	0.00	138.24	50,560.48
6	Axis Bank Apps	22.20	4,151.71	108.14	2,184.35	0.01	1.78	130.36	6,337.84
7	super.money #	78.49	3,130.10	0.00	0.00	0.00	0.00	78.49	3,130.10
8	Amazon Pay #	71.60	7,914.87	0.00	0.00	0.00	0.00	71.60	7,914.87
9	FamApp by Trio #	67.41	777.46	0.00	0.00	0.00	0.00	67.41	777.46
10	ICICI Bank Apps	51.13	18,538.92	0.01	8.18	2.57	2,951.05	53.71	21,498.14
11	Whatsapp #	51.76	3,890.10	0.00	0.00	0.00	0.00	51.76	3,890.10
12	Kotak Mahindra Bank Apps	47.35	6,583.09	0.00	0.00	0.00	0.00	47.35	6,583.09
13	HDFC Bank Apps	36.67	10,416.41	0.16	0.34	0.01	0.52	36.84	10,417.27
14	Yes Bank Apps	35.35	9,201.05	0.00	0.03	0.33	14.02	35.69	9,215.09
15	BHIM #	27.05	8,210.65	0.00	0.00	0.00	0.00	27.05	8,210.65
16	Airtel Payments Bank Apps	18.60	1,389.67	0.00	0.00	0.00	0.05	18.60	1,389.73
17	Mobikwik #	16.63	2,942.38	0.00	0.00	0.00	0.00	16.63	2,942.38
18	Flipkart UPI #	13.25	636.91	0.00	0.00	0.00	0.00	13.25	636.91
19	Groww #	13.22	8,479.87	0.00	0.00	0.00	0.00	13.22	8,479.87
20	Slice #	11.54	845.13	0.00	0.00	0.00	0.00	11.54	845.13
21	State Bank of India Apps	10.46	3,035.13	0.00	0.00	0.00	0.00	10.46	3,035.13
22	India Post Payments Bank Apps	8.91	1,131.95	0.00	0.00	0.00	0.00	8.91	1,131.95
23	IDFC Bank Apps	8.59	1,931.32	0.00	0.00	0.01	1.00	8.60	1,932.32
24	Bajaj Finserv #	8.10	1,584.15	0.00	0.00	0.00	0.00	8.10	1,584.15
25	Samsung Pay #	7.90	578.99	0.00	0.00	0.00	0.00	7.90	578.99
26	Jupiter Money #	6.02	825.36	0.00	0.00	0.00	0.00	6.02	825.36
27	RBL Bank Apps	4.99	908.57	0.00	0.00	0.04	5.71	5.03	914.28
28	Pop Club #	4.00	267.15	0.00	0.00	0.00	0.00	4.00	267.15
29	Federal Bank Apps	3.36	578.23	0.00	0.00	0.00	0.00	3.36	578.23
30	Punjab National Bank Apps	3.31	753.10	0.00	0.00	0.00	0.00	3.31	753.10
31	Jio Payments Bank Apps	3.18	263.81	0.00	0.00	0.00	0.00	3.18	263.81
32	Fi Money #	3.07	373.29	0.00	0.00	0.00	0.00	3.07	373.29
33	Canara Bank Apps	3.01	802.16	0.00	0.00	0.00	0.00	3.01	802.16
34	Deutsche Bank Apps	2.68	400.97	0.00	0.00	0.00	0.07	2.68	401.03
35	Indian Bank Apps	2.19	410.19	0.00	0.00	0.00	0.00	2.19	410.19
36	Timepay #	1.72	19.88	0.00	0.00	0.00	0.00	1.72	19.88
37	Omni Card	1.35	100.86	0.00	0.00	0.00	0.00	1.35	100.86
38	Central Bank of India Apps	1.06	197.17	0.00	0.00	0.00	0.00	1.06	197.17
39	Bank of Baroda Apps	1.01	389.10	0.00	0.00	0.00	0.00	1.01	389.10
40	Jammu and Kashmir Bank Apps	0.79	135.44	0.00	0.00	0.00	0.00	0.79	135.44
41	Union Bank Apps	0.73	238.56	0.00	0.00	0.00	0.00	0.73	238.56
42	Kiwi #	0.69	106.42	0.00	0.00	0.00	0.00	0.69	106.42
43	HSBC Bank Apps	0.68	176.26	0.00	0.10	0.00	0.09	0.68	176.45
44	Aditya Birla Capital Digital	0.66	30.09	0.00	0.00	0.00	0.00	0.66	30.09
45	South Indian Bank Apps	0.59	167.92	0.00	0.00	0.00	0.00	0.59	167.92
46	DBS Digibank Apps	0.57	190.59	0.00	0.00	0.00	1.14	0.57	191.73
47	Fino Payments Bank Apps	0.51	64.81	0.00	0.00	0.00	0.00	0.51	64.81
48	Digikhata	0.46	156.43	0.00	0.00	0.00	0.00	0.46	156.43
49	AU Small Finance Bank Apps	0.45	134.47	0.00	0.00	0.00	0.00	0.45	134.47
50	Shri Ram One #	0.38	39.72	0.00	0.00	0.00	0.00	0.38	39.72
51	IndusInd Bank Apps	0.35	90.83	0.00	0.00	0.01	1.49	0.36	92.32
52	One Card #	0.36	356.22	0.00	0.00	0.00	0.00	0.36	356.22
53	Tata Neu #	0.30	78.83	0.00	0.00	0.00	0.00	0.30	78.83
54	True Balance	0.29	33.18	0.00	0.00	0.00	0.00	0.29	33.18
55	UCO Bank Apps	0.28	66.32	0.00	0.00	0.00	0.00	0.28	66.32
56	Bank of India Apps	0.20	55.80	0.00	0.00	0.00	0.00	0.20	55.80
57	Standard Chartered Bank Apps	0.18	114.58	0.00	0.00	0.00	0.00	0.18	114.58
58	Indian Overseas Bank Apps	0.18	49.21	0.00	0.00	-	-	0.18	49.21
59	Karnataka Bank Apps	0.18	38.31	0.00	0.00	0.00	0.00	0.18	38.31
60	Dhani	0.13	13.25	0.00	0.00	0.00	0.00	0.13	13.25
61	ESAF Small Finance Bank Apps	0.12	14.69	0.00	0.00	0.00	0.00	0.12	14.69
62	Niyo Global #	0.09	52.41	0.00	0.00	0.00	0.00	0.09	52.41
63	Rapipay	0.09	11.70	0.00	0.00	0.00	0.00	0.09	11.70
64	Suryoday Bank Apps	0.08	0.22	0.00	0.00	0.00	0.01	0.08	0.23
65	IDBI Bank Apps	0.08	30.01	0.00	0.00	0.00	0.00	0.08	30.01
66	Ultracash #	0.08	5.71	0.00	0.00	0.00	0.00	0.08	5.71
67	NSDL Payments Bank Apps	0.08	9.73	0.00	0.00	0.00	0.00	0.08	9.73
68	City Union Bank Apps	0.07	26.24	0.00	0.00	0.00	0.00	0.07	26.24
69	Bharat Pe #	0.07	8.29	0.00	0.00	0.00	0.00	0.07	8.29
70	Tamilnad Mercantile Bank Apps	0.07	23.33	0.00	0.00	0.00	0.00	0.07	23.33
71	Salary Se #	0.07	3.75	0.00	0.00	0.00	0.00	0.07	3.75
72	Genwise #	0.06	22.84	0.00	0.00	0.00	0.00	0.06	22.84
73	Karur Vysya Bank Apps	0.05	17.82	0.00	0.00	0.00	0.00	0.05	17.82
74	Equitas Small Finance Bank Apps	0.03	25.69	0.00	0.00	0.00	0.00	0.03	25.69
75	Freo #	0.03	1.80	0.00	0.00	0.00	0.00	0.03	1.80
76	Cheq	0.03	1.84	0.00	0.00	0.00	0.00	0.03	1.84
77	Money View #	0.02	2.77	0.00	0.00	0.00	0.00	0.02	2.77
78	Punjab Sind Bank Apps	0.02	10.76	0.00	0.00	0.00	0.00	0.02	10.76
79	Spice Money	0.02	2.73	0.00	0.00	0.00	0.00	0.02	2.73
80	Kredit.Pe #	0.02	2.67	0.00	0.00	0.00	0.00	0.02	2.67
81	Others	1.52	219.56	0.00	0.00	0.13	5.62	1.65	225.18

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 20,000 is included under ‘Other Apps’.
BHIM Volume is inclusive of *99# volume.
WhatsApp*: Maximum registered user base of hundred (100) million in UPI
3rd Party Apps (TPAP) Volume Market Share statistics excludes the cross-border transactions and new/recent features
On Us transactions of Airtel Payments Bank Apps have been incoroprated in B2B Payments
# Denotes 3rd Party Apps (TPAP)

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)
Nov-24	15,482.02	21,55,187.40	5,833.16	15,56,010.77	9,648.87	5,99,176.63

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 (November'24)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Axis Bank Ltd.	5,366.04	93.50%	6.33%	0.17%
2	Yes Bank Ltd.	4,838.62	89.34%	10.51%	0.15%
3	ICICI Bank Ltd.	2,839.45	92.32%	7.54%	0.14%
4	State Bank of India	1,738.04	95.72%	4.12%	0.16%
5	HDFC Bank Ltd.	1,699.60	94.50%	5.40%	0.10%
6	Tri O Tech Solutions Private Limited	67.21	100.00%	0.00%	0.00%
7	Kotak Mahindra Bank	47.66	100.00%	0.00%	0.00%
8	National Payments Corporation of India	32.01	93.36%	6.40%	0.23%
9	Airtel Payments Bank Limited	19.34	96.20%	3.70%	0.10%
10	RBL Bank Ltd.	11.84	97.09%	2.81%	0.10%
11	IDFC Bank Ltd.	9.25	99.60%	0.39%	0.00%
12	India Post Payments Bank Limited	8.91	100.00%	0.00%	0.00%
13	One Mobikwik Systems Limited	7.23	100.00%	0.00%	0.00%
14	Federal Bank Ltd.	6.64	98.46%	1.50%	0.04%
15	Citibank Corporate	6.19	100.00%	0.00%	0.00%

UPI Payee PSP Performance

UPI Payee PSP Performance (November'24)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd.	8,805.07	90.47%	9.38%	0.15%
2	Axis Bank Ltd.	3,020.55	94.77%	5.08%	0.15%
3	ICICI Bank Ltd.	1,565.44	94.16%	5.69%	0.15%
4	HDFC Bank Ltd.	941.31	94.55%	5.31%	0.13%
5	State Bank of India	875.91	95.35%	4.50%	0.15%
6	Federal Bank Ltd.	317.06	97.06%	2.79%	0.15%
7	Canara Bank	141.79	95.23%	4.61%	0.16%
8	Airtel Payments Bank Limited	107.19	95.05%	4.81%	0.13%
9	Indusind Bank Ltd.	101.97	92.11%	7.74%	0.15%
10	RBL Bank Ltd.	51.03	93.58%	6.24%	0.18%
11	Kotak Mahindra Bank	46.50	93.47%	6.38%	0.15%
12	One Mobikwik Systems Limited	45.61	96.65%	3.22%	0.12%
13	Fino Payments Bank Ltd.	39.72	90.08%	9.71%	0.21%
14	Tri O Tech Solutions Private Limited	32.41	93.92%	5.89%	0.19%
15	Indian Overseas Bank	27.56	94.73%	5.12%	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 Merchant Category Classification - Nov 24

UPI Merchant Category-wise Classification - Nov'24
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5814	Fast food restaurants
	5812	Eating places and restaurants
	4814	Telecommunication services, including local and long distance calls
	5541	Service stations (with or without ancillary services)
	5816	Digital Goods: Games
	5912	Drug stores and pharmacies
	5993	Cigar shops and stands
	5462	Bakeries
	4900	Utilities electric, gas, water and sanitary
Medium Transacting Categories	5451	Dairies
	7322	Debt collection agencies
	5813	Drinking places (alcoholic beverages) bars, taverns, night-clubs, cocktail lounges
	5921	Package shops beer, wine and liquor
	5422	Freezer and locker meat provisioners
	5441	Candy, nut and confectionery shops
	5137	Mens, womens and childrens uniforms and commercial clothing
	5691	Mens and womens clothing shops
	4112	Passenger railways
	7622	Electronics repair shops
All Other Categories	6211	Securities brokers and dealers
	9399	Government services not elsewhere classified
	5732	Electronics shops
	7230	Beauty and barber shops
	5262	Online Marketplaces
	5311	Department stores
	4121	Taxi-cabs and limousines
	5331	Variety stores
	7011	Lodging hotels, motels and resorts
	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 Member Remitter Performance (October'24)

UPI Remitter Members - Top 50 Members (Oct'24)
Sr. No.	UPI Remitter Members (Oct-2024)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank Of India	4,478.41	92.10%	6.29%	1.61%	17.29	97.03%
2	HDFC BANK LTD.	1,409.32	94.74%	5.24%	0.02%	4.26	99.84%
3	Bank of Baroda	1,116.59	92.54%	7.41%	0.06%	3.50	97.90%
4	Union Bank of India	1,043.89	93.16%	6.69%	0.15%	3.77	86.01%
5	Punjab National Bank	955.82	90.92%	8.90%	0.18%	3.29	96.59%
6	Kotak Mahindra Bank	863.59	91.32%	8.58%	0.10%	2.81	87.86%
7	Axis Bank Ltd.	827.97	94.82%	5.13%	0.06%	2.30	95.70%
8	Canara Bank	795.21	92.55%	7.16%	0.29%	3.31	89.26%
9	ICICI Bank Ltd.	709.27	95.76%	4.20%	0.04%	1.91	98.23%
10	Bank of India	538.24	93.54%	5.93%	0.54%	2.50	77.09%
11	Indian Bank	513.28	93.41%	6.42%	0.18%	1.87	87.20%
12	Airtel Payments Bank Limited	500.76	89.46%	10.35%	0.19%	2.20	97.31%
13	India Post Payments Bank Limited	434.48	87.51%	11.24%	1.25%	1.84	81.21%
14	Indian Overseas Bank	244.05	91.68%	6.13%	2.19%	1.74	87.54%
15	Central Bank Of India	241.37	86.85%	12.22%	0.92%	1.10	84.13%
16	Federal Bank Ltd.	238.16	92.59%	7.10%	0.31%	0.69	97.63%
17	UCO Bank	220.30	92.16%	7.68%	0.16%	0.85	90.84%
18	Bank of Maharashtra	187.72	92.94%	6.64%	0.42%	0.76	76.93%
19	IDBI Bank Ltd.	186.35	93.67%	6.15%	0.18%	0.71	92.38%
20	INDUSIND BANK Ltd.	184.41	90.46%	9.32%	0.22%	0.77	90.97%
21	Fino Payments Bank Ltd.	173.06	92.76%	7.17%	0.07%	0.79	94.78%
22	Yes Bank Ltd.	165.55	85.65%	14.14%	0.21%	0.54	69.34%
23	Karnataka Bank	126.09	92.63%	6.87%	0.50%	0.48	84.10%
24	IDFC Bank Ltd.	99.72	92.41%	7.14%	0.44%	0.71	42.29%
25	Karur Vysya Bank	79.62	92.99%	6.72%	0.29%	0.31	93.92%
26	The Jammu & Kashmir Bank Limited	78.02	89.55%	5.02%	5.43%	1.82	13.78%
27	AU small Finance Bank	76.76	90.05%	9.88%	0.07%	0.29	94.71%
28	Bandhan Bank Limited	74.83	93.87%	5.29%	0.84%	0.34	94.37%
29	Tri O Tech Solutions Private Limited	69.79	100.00%	0.00%	0.00%	#N/A	#N/A
30	The South Indian Bank Limited	64.32	94.61%	5.25%	0.14%	0.18	98.72%
31	Ujjivan Small Finance Bank Limited	48.67	94.65%	4.98%	0.37%	0.19	86.84%
32	Punjab and Sind Bank	47.91	91.97%	7.83%	0.20%	0.22	92.65%
33	City Union Bank	47.69	93.04%	6.83%	0.14%	0.13	99.75%
34	Tamilnad Mercantile Bank Limited	44.76	92.22%	7.41%	0.38%	0.16	77.33%
35	Kerala Gramin Bank	38.22	92.47%	6.68%	0.85%	0.23	86.93%
36	Equitas Small Finance Bank	34.50	92.52%	7.45%	0.03%	0.12	97.83%
37	Andhra Pradesh Grameena Vikas Bank	32.92	85.99%	12.62%	1.39%	0.04	0.00%
38	Baroda UP Gramin Bank	31.14	92.41%	6.10%	1.48%	0.00	0.00%
39	Karnataka Gramin Bank	30.87	89.60%	8.27%	2.13%	0.36	79.23%
40	DBS Bank India Limited	30.17	92.60%	7.25%	0.15%	0.11	87.46%
41	Maharashtra Gramin Bank	29.85	85.61%	12.12%	2.27%	0.18	53.89%
42	Rajasthan Marudhara Gramin Bank	29.28	84.14%	10.95%	4.91%	0.37	26.64%
43	Saraswat Co-operative Bank	28.50	94.07%	5.72%	0.21%	0.10	88.12%
44	Jio Payments Bank Ltd	28.23	88.59%	10.18%	1.23%	0.26	99.35%
45	Standard Chartered Bank	27.97	95.45%	3.31%	1.24%	0.17	53.65%
46	ESAF Small Finance Bank Ltd	27.91	95.35%	4.55%	0.10%	0.10	96.78%
47	NSDL Payments Bank Limited	24.07	84.64%	11.55%	3.81%	0.37	3.94%
48	RBL Bank Ltd.	23.06	92.36%	7.33%	0.31%	0.10	76.65%
49	Andhra Pragathi Grameena Bank	21.92	78.27%	10.39%	11.34%	0.64	36.42%
50	Sarva Haryana Gramin Bank	21.22	93.23%	6.41%	0.36%	0.09	87.26%

UPI Top 50 Member Beneficiary Performance (October'24)

UPI Beneficiary Members - Top 50 Members (Oct'24)
Sr.No.	UPI Beneficiary Members (Oct-2024)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Yes Bank Ltd	6,665.20	99.99%	0.01%	0.00%	0.00%
2	State Bank Of India	1,667.62	99.11%	0.12%	0.77%	0.37%
3	Axis Bank Ltd.	1,647.89	99.86%	0.06%	0.07%	0.01%
4	HDFC BANK LTD	814.86	98.94%	1.04%	0.02%	0.01%
5	ICICI Bank	637.79	99.48%	0.49%	0.03%	0.02%
6	Bank of Baroda	472.15	99.90%	0.06%	0.03%	0.06%
7	Canara Bank	449.55	99.26%	0.56%	0.18%	0.13%
8	Union Bank of India	420.82	99.81%	0.10%	0.09%	0.05%
9	Federal Bank	418.03	99.75%	0.20%	0.04%	0.00%
10	Punjab National Bank	386.00	99.68%	0.28%	0.05%	0.14%
11	Airtel Payments Bank	328.27	99.64%	0.29%	0.07%	0.07%
12	Kotak Mahindra Bank	322.09	98.62%	1.35%	0.03%	0.04%
13	Bank of India	235.92	98.61%	0.85%	0.54%	0.16%
14	Indian Bank	234.79	99.05%	0.80%	0.15%	0.04%
15	India Post Payment Bank	191.03	99.46%	0.25%	0.29%	0.05%
16	Indusind Bank Ltd.	175.04	99.21%	0.64%	0.15%	0.04%
17	Indian Overseas Bank	122.14	98.17%	0.47%	1.36%	0.77%
18	Central Bank Of India	116.32	98.07%	1.42%	0.51%	0.28%
19	Fino Payments Bank Limited FIP	102.43	96.33%	3.56%	0.11%	0.03%
20	UCO Bank	99.30	99.41%	0.47%	0.12%	0.02%
21	Bank of Maharashtra	81.90	99.18%	0.25%	0.57%	0.18%
22	IDBI Bank Limited	79.09	99.62%	0.27%	0.11%	0.05%
23	RBL Bank Limited	59.70	99.59%	0.27%	0.14%	0.11%
24	Karnataka Bank	58.52	98.87%	0.62%	0.51%	0.05%
25	One Mobikwik Systems Pvt - Ltd	51.06	99.96%	0.03%	0.02%	0.00%
26	Bandhan Bank	43.86	98.76%	0.23%	1.01%	0.06%
27	IDFC First Bank Ltd	43.61	98.88%	1.09%	0.03%	0.01%
28	Jammu and Kashmir Bank	41.43	98.42%	0.17%	1.41%	1.19%
29	South Indian Bank	40.76	99.32%	0.63%	0.05%	0.01%
30	Karur Vysya Bank	39.62	98.98%	0.81%	0.21%	0.04%
31	AU small Finance Bank	38.49	99.24%	0.70%	0.06%	0.03%
32	Tri O Tech Solutions Private Limited	33.06	95.65%	4.35%	0.00%	0.00%
33	Tamilnad Mercantile Bank	30.48	99.62%	0.08%	0.29%	0.05%
34	City Union Bank	26.07	98.95%	0.92%	0.12%	0.00%
35	Ujjivan Small Finance Bank	25.03	99.52%	0.21%	0.27%	0.17%
36	Punjab and Sind Bank	22.43	99.12%	0.71%	0.18%	0.03%
37	Jio Payments Bank	20.89	99.23%	0.42%	0.34%	0.17%
38	Kerala Gramin Bank	20.67	98.60%	0.93%	0.47%	0.31%
39	CITI Bank	18.98	99.39%	0.55%	0.05%	0.02%
40	Baroda UP Gramin Bank	15.99	98.78%	0.26%	0.96%	0.34%
41	Andhra Pradesh Grameena Vikas Bank	15.15	98.99%	0.57%	0.44%	0.13%
42	Pragathi Krishna Gramin Bank	14.38	97.87%	1.05%	1.08%	0.76%
43	Equitas Bank	14.34	98.67%	1.18%	0.15%	0.01%
44	Maharashtra Gramin Bank	13.65	98.11%	0.16%	1.74%	0.50%
45	ESAF Small Finance Bank Ltd.	13.14	99.06%	0.83%	0.11%	0.02%
46	NSDL Payments Bank	12.62	97.33%	1.05%	1.62%	0.64%
47	Rajasthan Marudhara Gramin Bank	12.62	96.18%	0.48%	3.34%	0.57%
48	DBS Bank India Limited	11.70	98.41%	1.32%	0.27%	0.05%
49	Andhra Pragathi Grameena Bank	10.42	92.29%	0.83%	6.88%	0.08%
50	Sarva Haryana Gramin Bank	9.23	99.32%	0.34%	0.34%	0.04%

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'24)

UPI Apps (Oct'24)
Sr.No.	Application Name	Customer Initiated Transactions		B2C Transactions		B2B Transactions		Total
Sr.No.	Application Name	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
1	PhonePe #	7,905.54	11,69,290.03	0.00	0.00	0.00	0.00	7,905.54	11,69,290.03
2	Google Pay #	6,201.81	8,49,327.38	0.00	0.00	0.00	0.00	6,201.81	8,49,327.38
3	Paytm (OCL) #	1,165.01	1,29,584.98	0.00	0.00	0.00	0.00	1,165.01	1,29,584.98
4	Navi #	157.51	8,841.90	0.00	0.00	0.00	0.00	157.51	8,841.90
5	Cred #	152.28	55,202.12	0.00	0.00	0.00	0.00	152.28	55,202.12
6	Axis Bank Apps	21.97	4,527.19	117.70	2,300.48	0.01	1.86	139.68	6,829.53
7	Amazon Pay #	79.55	9,205.72	0.00	0.00	0.00	0.00	79.55	9,205.72
8	FamApp by Trio #	69.90	825.19	0.00	0.00	0.00	0.00	69.90	825.19
9	ICICI Bank Apps	54.77	20,505.95	0.01	10.00	2.76	3,171.01	57.54	23,686.95
10	Whatsapp #	55.07	4,137.17	0.00	0.00	0.00	0.00	55.07	4,137.17
11	Kotak Mahindra Bank Apps	51.92	7,565.22	0.00	0.00	0.00	0.00	51.92	7,565.22
12	super.money #	49.68	2,167.86	0.00	0.00	0.00	0.00	49.68	2,167.86
13	HDFC Bank Apps	39.13	10,426.92	0.27	0.39	0.01	0.67	39.41	10,427.97
14	Yes Bank Apps	36.37	10,230.68	0.00	0.01	0.42	14.79	36.79	10,245.47
15	BHIM #	29.90	10,170.60	0.00	0.00	0.00	0.00	29.90	10,170.60
16	Airtel Payments Bank Apps	20.03	1,504.27	0.00	0.00	0.00	0.08	20.03	1,504.36
17	Mobikwik #	17.20	2,995.42	0.00	0.00	0.00	0.00	17.20	2,995.42
18	Groww #	15.35	11,862.09	0.00	0.00	0.00	0.00	15.35	11,862.09
19	Flipkart UPI #	14.62	825.95	0.00	0.00	0.00	0.00	14.62	825.95
20	Slice #	12.19	907.37	0.00	0.00	0.00	0.00	12.19	907.37
21	State Bank of India Apps	11.73	3,527.88	0.00	0.00	0.00	0.00	11.73	3,527.88
22	Bajaj Finserv #	10.66	2,330.26	0.00	0.00	0.00	0.00	10.66	2,330.26
23	India Post Payments Bank Apps	10.11	1,507.56	0.00	0.00	0.00	0.00	10.11	1,507.56
24	IDFC Bank Apps	9.32	2,162.46	0.00	0.00	0.00	0.39	9.33	2,162.85
25	Samsung Pay #	8.56	664.70	0.00	0.00	0.00	0.00	8.56	664.70
26	Jupiter Money #	6.36	873.89	0.00	0.00	0.00	0.00	6.36	873.89
27	Fi Money #	3.44	421.40	0.00	0.00	0.00	0.00	3.44	421.40
28	Punjab National Bank Apps	3.31	785.24	0.00	0.00	0.00	0.00	3.31	785.24
29	Canara Bank Apps	3.27	898.89	0.00	0.00	0.00	0.00	3.27	898.89
30	Jio Payments Bank Apps	3.23	269.69	0.00	0.00	0.00	0.00	3.23	269.69
31	Indian Bank Apps	3.11	513.43	0.00	0.00	0.00	0.00	3.11	513.43
32	Federal Bank Apps	2.96	542.57	0.00	0.00	0.00	0.00	2.96	542.57
33	Pop Club #	2.93	209.84	0.00	0.00	0.00	0.00	2.93	209.84
34	RBL Bank Apps	2.85	718.17	0.00	0.01	0.03	4.97	2.88	723.15
35	Deutsche Bank Apps	2.58	395.26	0.00	0.00	0.00	0.06	2.58	395.32
36	Timepay #	2.15	18.60	0.00	0.00	0.00	0.00	2.15	18.60
37	Omni Card	1.49	96.52	0.00	0.00	0.00	0.00	1.49	96.52
38	Bank of Baroda Apps	1.16	499.63	0.00	0.00	0.00	0.00	1.16	499.63
39	Central Bank of India Apps	1.11	219.02	0.00	0.00	0.00	0.00	1.11	219.02
40	Aditya Birla Capital Digital	0.97	37.97	0.00	0.00	0.00	0.00	0.97	37.97
41	Jammu and Kashmir Bank Apps	0.83	144.00	0.00	0.00	0.00	0.00	0.83	144.00
42	Union Bank Apps	0.80	282.02	0.00	0.00	0.00	0.00	0.80	282.02
43	HSBC Bank Apps	0.68	179.22	0.00	0.12	0.00	0.01	0.68	179.35
44	South Indian Bank Apps	0.61	179.80	0.00	0.00	0.00	0.00	0.61	179.80
45	DBS Digibank Apps	0.61	213.96	0.00	0.00	0.00	0.86	0.61	214.82
46	Fino Payments Bank Apps	0.58	70.11	0.00	0.00	0.00	0.00	0.58	70.11
47	AU Small Finance Bank Apps	0.49	146.98	0.00	0.00	0.00	0.00	0.49	146.98
48	Shri Ram One #	0.47	47.25	0.00	0.00	0.00	0.00	0.47	47.25
49	Digikhata	0.46	166.18	0.00	0.00	0.00	0.00	0.46	166.18
50	Kiwi #	0.41	66.74	0.00	0.00	0.00	0.00	0.41	66.74
51	IndusInd Bank Apps	0.36	91.48	0.00	0.00	0.01	1.81	0.36	93.29
52	UCO Bank Apps	0.31	77.02	0.00	0.00	0.00	0.00	0.31	77.02
53	Tata Neu #	0.31	74.80	0.00	0.00	0.00	0.00	0.31	74.80
54	One Card #	0.29	261.08	0.00	0.00	0.00	0.00	0.29	261.08
55	Suryoday Bank Apps	0.26	0.05	0.00	0.00	0.00	0.00	0.26	0.05
56	Bank of India Apps	0.20	45.85	0.00	0.00	0.00	0.00	0.20	45.85
57	Indian Overseas Bank Apps	0.20	56.07	0.00	0.00	0.00	0.00	0.20	56.07
58	Standard Chartered Bank Apps	0.20	131.76	0.00	0.00	0.00	0.07	0.20	131.83
59	Karnataka Bank Apps	0.16	34.88	0.00	0.00	0.00	0.00	0.16	34.88
60	Dhani	0.13	14.62	0.00	0.00	0.00	0.00	0.13	14.62
61	True Balance	0.13	16.51	0.00	0.00	0.00	0.00	0.13	16.51
62	Niyo Global #	0.10	55.57	0.00	0.00	0.00	0.00	0.10	55.57
63	NSDL Payments Bank Apps	0.09	12.10	0.00	0.00	0.00	0.00	0.09	12.10
64	Ultracash #	0.09	5.94	0.00	0.00	0.00	0.00	0.09	5.94
65	Rapipay	0.08	11.38	0.00	0.00	0.00	0.00	0.08	11.38
66	City Union Bank Apps	0.08	29.97	0.00	0.00	0.00	0.00	0.08	29.97
67	IDBI Bank Apps	0.08	29.72	0.00	0.00	0.00	0.00	0.08	29.72
68	Tamilnad Mercantile Bank Apps	0.07	24.55	0.00	0.00	0.00	0.00	0.07	24.55
69	Salary Se #	0.07	3.95	0.00	0.00	0.00	0.00	0.07	3.95
70	ESAF Small Finance Bank Apps	0.06	8.57	0.00	0.00	0.00	0.00	0.06	8.57
71	Bharat Pe #	0.05	7.27	0.00	0.00	0.00	0.00	0.05	7.27
72	Freo #	0.05	2.70	0.00	0.00	0.00	0.00	0.05	2.70
73	Karur Vysya Bank Apps	0.05	18.40	0.00	0.00	0.00	0.00	0.05	18.40
74	Equitas Small Finance Bank Apps	0.04	29.70	0.00	0.00	0.00	0.00	0.04	29.70
75	Punjab Sind Bank Apps	0.03	16.46	0.00	0.00	0.00	0.00	0.03	16.46
76	Cheq	0.02	1.62	0.00	0.00	0.00	0.00	0.02	1.62
77	Others	1.63	219.31	0.00	0.00	0.13	5.53	1.76	224.84

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 20,000 is included under ‘Other Apps’.
BHIM Volume is inclusive of *99# volume.
WhatsApp*: Maximum registered user base of hundred (100) million in UPI
3rd Party Apps (TPAP) Volume Market Share statistics excludes the cross-border transactions and new/recent features
On Us transactions of Airtel Payments Bank Apps have been incoroprated in B2B Payments
# Denotes 3rd Party Apps (TPAP)

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-24	16,584.97	23,49,821.45	6,281.79	16,81,872.99	10,303.18	6,67,948.46

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 (October'24)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Axis Bank Ltd.	5,662.22	93.4%	6.11%	0.49%
2	Yes Bank Ltd.	5,326.82	90.02%	9.61%	0.37%
3	ICICI Bank Ltd.	3,063.68	92.73%	6.96%	0.31%
4	State Bank of India	1,831.81	95.11%	4.37%	0.52%
5	HDFC Bank Ltd.	1,746.61	94.68%	5.16%	0.16%
6	Tri O Tech Solutions Private Limited	69.79	100.0%	0.0%	0.0%
7	Kotak Mahindra Bank	52.23	100.0%	0.0%	0.0%
8	National Payments Corporation of India	35.84	92.86%	6.49%	0.64%
9	Airtel Payments Bank Limited	20.89	95.87%	3.91%	0.22%
10	RBL Bank Ltd.	11.15	96.09%	3.6%	0.31%
11	INDIA POST PAYMENTS BANK LIMITED	10.11	100.0%	0.0%	0.0%
12	IDFC Bank Ltd.	9.99	99.54%	0.44%	0.01%
13	ONE MOBIKWIK SYSTEMS LIMITED	7.19	100.0%	0.0%	0.0%
14	Federal Bank Ltd.	6.6	98.23%	1.66%	0.11%
15	Garagepreneurs Internet Private Limited	5.44	100.0%	0.0%	0.0%

UPI Payee PSP Performance

UPI Payee PSP Performance (October'24)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd.	9,391.07	91.19%	8.43%	0.38%
2	Axis Bank Ltd.	3,213.02	94.25%	5.35%	0.4%
3	ICICI Bank Ltd.	1,700.90	93.61%	5.96%	0.43%
4	HDFC Bank Ltd.	1035.39	94.2%	5.36%	0.44%
5	State Bank of India	925.37	94.71%	4.91%	0.38%
6	Federal Bank Ltd.	346.74	96.62%	2.97%	0.41%
7	Canara Bank	148.39	94.73%	4.95%	0.32%
8	Indusind Bank Ltd.	121.17	92.29%	7.3%	0.4%
9	Airtel Payments Bank Limited	98.84	94.46%	5.22%	0.32%
10	RBL Bank Ltd.	59.17	92.97%	6.62%	0.41%
11	ONE MOBIKWIK SYSTEMS LIMITED	53.01	96.27%	3.43%	0.3%
12	Fino Payments Bank Ltd.	45.72	89.71%	9.95%	0.35%
13	Kotak Mahindra Bank	44.89	95.09%	4.57%	0.34%
14	Bank of Baroda	39.53	94.62%	5.04%	0.35%
15	Tri O Tech Solutions Private Limited	33.82	93.2%	6.36%	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 - Oct 24

UPI Merchant Category-wise Classification - Oct'24
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5814	Fast food restaurants
	5812	Eating places and restaurants
	4814	Telecommunication services, including local and long distance calls
	5541	Service stations (with or without ancillary services)
	5816	Digital Goods: Games
	5912	Drug stores and pharmacies
	5993	Cigar shops and stands
	5462	Bakeries
	4900	Utilities electric, gas, water and sanitary
Medium Transacting Categories	5451	Dairies
	7322	Debt collection agencies
	5441	Candy, nut and confectionery shops
	5813	Drinking places (alcoholic beverages) bars, taverns, night-clubs, cocktail lounges
	5137	Mens, womens and childrens uniforms and commercial clothing
	5921	Package shops beer, wine and liquor
	5262	Online Marketplaces
	6211	Securities brokers and dealers
	5422	Freezer and locker meat provisioners
	7622	Electronics repair shops
All Other Categories	5732	Electronics shops
	9399	Government services not elsewhere classified
	5691	Mens and womens clothing shops
	7230	Beauty and barber shops
	4112	Passenger railways
	5311	Department stores
	5331	Variety stores
	4121	Taxi-cabs and limousines
	5651	Family clothing shops
	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 Member Remitter Performance (September'24)

UPI Remitter Members - Top 50 Members (Sep'24)
Sr. No.	UPI Remitter Members (Sep-2024)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank Of India	4,067.05	93.90%	5.35%	0.75%	15.24	95.22%
2	HDFC BANK LTD	1,267.31	95.36%	4.62%	0.02%	3.28	99.66%
3	Bank of Baroda	996.46	92.87%	7.01%	0.11%	2.75	98.59%
4	Union Bank of India	928.30	93.16%	6.36%	0.47%	4.67	53.00%
5	Punjab National Bank	851.00	92.20%	7.69%	0.11%	2.70	95.21%
6	Kotak Mahindra Bank	771.17	91.78%	7.55%	0.68%	2.13	86.79%
7	Axis Bank Ltd.	739.08	95.40%	4.54%	0.05%	1.70	99.18%
8	Canara Bank	724.35	93.23%	6.32%	0.44%	2.50	91.72%
9	ICICI Bank Ltd.	642.30	96.31%	3.67%	0.02%	1.43	97.81%
10	Bank of India	480.33	93.98%	5.57%	0.45%	2.04	72.57%
11	Indian Bank	466.01	94.03%	5.87%	0.11%	1.44	89.97%
12	Airtel Payments Bank Ltd	449.25	89.91%	9.82%	0.27%	1.74	97.12%
13	India Post Payments Bank Ltd	370.25	87.95%	11.48%	0.58%	1.30	93.30%
14	Indian Overseas Bank	221.41	91.62%	5.67%	2.71%	2.53	83.77%
15	Federal Bank Ltd.	220.03	94.15%	5.81%	0.04%	0.58	99.00%
16	Central Bank Of India	219.42	87.43%	11.13%	1.45%	1.27	84.32%
17	UCO Bank	202.25	91.83%	7.48%	0.70%	0.81	74.19%
18	IDBI Bank	167.82	93.46%	5.98%	0.55%	0.75	80.34%
19	INDUSIND BANK Ltd.	165.88	91.52%	8.37%	0.11%	0.66	93.54%
20	Bank of Maharashtra	165.00	93.33%	6.37%	0.30%	0.60	72.66%
21	Fino Payments Bank Limited	154.66	92.79%	7.09%	0.12%	0.62	90.32%
22	Yes Bank Ltd.	131.04	94.14%	5.69%	0.16%	0.33	73.57%
23	Karnataka Bank	117.35	93.35%	6.47%	0.18%	0.35	89.55%
24	IDFC First Bank Ltd	89.72	93.65%	6.14%	0.22%	0.40	60.52%
25	Karur Vysya Bank	73.53	92.19%	6.56%	1.25%	0.37	81.06%
26	AU small Finance Bank	69.23	91.09%	8.74%	0.17%	0.18	90.37%
27	The Jammu & Kashmir Bank Limited	69.03	92.85%	5.24%	1.90%	0.76	28.28%
28	Bandhan Bank Limited	68.05	92.88%	5.45%	1.67%	0.40	76.70%
29	Tri O Tech Solutions Private Limited	61.00	100.00%	0.00%	0.00%	#N/A	#N/A
30	The South Indian Bank Limited	60.27	95.12%	4.80%	0.09%	0.15	99.29%
31	Ujjivan Small Finance Bank Limited	45.35	94.46%	5.22%	0.32%	0.15	92.62%
32	City Union Bank	44.30	92.88%	6.54%	0.58%	0.16	90.24%
33	Punjab and Sind Bank	43.54	91.88%	7.47%	0.65%	0.24	77.00%
34	Tamilnad Mercantile Bank Limited	41.41	92.63%	7.01%	0.36%	0.14	78.15%
35	Kerala Gramin Bank	35.02	91.51%	6.35%	2.15%	0.31	80.81%
36	Equitas Small Finance Bank Ltd	32.20	92.96%	6.98%	0.06%	0.11	95.27%
37	Andhra Pradesh Grameena Vikas Bank	29.88	86.57%	12.21%	1.23%	0.13	63.57%
38	Pragathi Krishna Gramin Bank	28.74	88.68%	7.74%	3.57%	0.42	70.44%
39	DBS Bank India Limited	27.93	93.71%	6.27%	0.02%	0.08	98.09%
40	Baroda UP Gramin Bank	26.48	92.16%	7.56%	0.28%	0.10	91.42%
41	Maharashtra Gramin Bank	25.95	86.61%	12.16%	1.23%	0.10	76.44%
42	Rajasthan Marudhara Gramin Bank	25.85	86.65%	10.52%	2.83%	0.16	65.99%
43	ESAF Small Finance Bank Ltd.	25.76	95.46%	4.43%	0.11%	0.09	94.77%
44	Standard Chartered Bank	25.65	96.49%	2.95%	0.56%	0.14	51.96%
45	Saraswat Co-operative Bank	24.88	94.11%	5.24%	0.66%	0.10	64.81%
46	Jio Payments Bank Limited	22.56	88.72%	10.15%	1.13%	0.23	96.15%
47	NSDL Payments Bank Limited	20.08	83.05%	11.47%	5.49%	0.38	9.08%
48	Sarva Haryana Gramin Bank	19.79	89.36%	6.17%	4.47%	0.32	28.04%
49	Andhra Pragathi Grameena Bank	18.96	83.63%	11.69%	4.68%	0.27	27.01%
50	RBL Bank Limited	18.87	91.45%	8.10%	0.44%	0.08	67.16%

UPI Top 50 Member Beneficiary Performance (September'24)

UPI Beneficiary Members - Top 50 Members (Sep'24)
Sr.No.	UPI Beneficiary Members (Sep-2024)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Yes Bank Ltd	6,069.82	99.99%	0.01%	0.00%	0.00%
2	State Bank Of India	1,544.10	99.39%	0.12%	0.49%	0.04%
3	Axis Bank Ltd.	1,469.29	99.93%	0.06%	0.00%	0.01%
4	HDFC BANK LTD	734.28	99.05%	0.94%	0.01%	0.01%
5	ICICI Bank	585.98	99.29%	0.47%	0.23%	0.08%
6	Bank of Baroda	423.28	99.89%	0.07%	0.04%	0.09%
7	Federal Bank	398.62	99.78%	0.21%	0.02%	0.00%
8	Union Bank of India	376.52	98.88%	0.10%	1.01%	0.23%
9	Canara Bank	376.48	98.87%	0.81%	0.32%	0.07%
10	Punjab National Bank	342.49	99.65%	0.27%	0.07%	0.09%
11	Kotak Mahindra Bank	289.36	99.08%	0.26%	0.66%	0.47%
12	Airtel Payments Bank	272.92	99.58%	0.29%	0.12%	0.05%
13	Indian Bank	217.43	99.10%	0.84%	0.06%	0.05%
14	Bank of India	209.89	98.76%	0.83%	0.41%	0.16%
15	India Post Payment Bank	165.82	99.62%	0.26%	0.12%	0.02%
16	Indusind Bank Ltd.	150.60	99.67%	0.30%	0.04%	0.01%
17	Central Bank Of India	125.25	96.10%	3.21%	0.69%	0.52%
18	Indian Overseas Bank	108.08	98.30%	0.17%	1.53%	0.98%
19	Fino Payments Bank Ltd.	92.64	96.41%	3.38%	0.21%	0.04%
20	UCO Bank	91.36	98.27%	0.44%	1.29%	0.10%
21	IDBI Bank Limited	70.98	99.33%	0.29%	0.39%	0.17%
22	Bank of Maharashtra	70.68	99.46%	0.24%	0.30%	0.11%
23	RBL Bank Limited	65.45	99.29%	0.32%	0.38%	0.27%
24	Karnataka Bank	53.43	99.46%	0.32%	0.22%	0.03%
25	One Mobikwik Systems Pvt - Ltd	47.98	99.80%	0.04%	0.16%	0.01%
26	Bandhan Bank	39.33	98.09%	0.29%	1.61%	0.24%
27	IDFC First Bank Ltd	39.31	98.84%	1.11%	0.05%	0.01%
28	South Indian Bank	38.79	99.06%	0.92%	0.02%	0.02%
29	Karur Vysya Bank	38.19	97.81%	1.46%	0.73%	0.17%
30	Jammu and Kashmir Bank	38.05	99.35%	0.17%	0.48%	0.46%
31	AU small Finance Bank	35.26	99.05%	0.78%	0.17%	0.05%
32	Tri O Tech Solutions Private Limited	28.83	96.18%	3.81%	0.00%	0.00%
33	Tamilnad Mercantile Bank	28.12	124.22%	0.08%	0.29%	0.07%
34	City Union Bank	24.24	97.59%	1.90%	0.50%	0.03%
35	Ujjivan Small Finance Bank	23.05	98.95%	0.82%	0.23%	0.17%
36	Punjab and Sind Bank	21.60	99.16%	0.38%	0.45%	0.15%
37	Kerala Gramin Bank	18.64	97.84%	0.93%	1.23%	0.58%
38	CITI Bank	17.54	99.27%	0.66%	0.07%	0.03%
39	Jio Payments Bank	17.18	99.25%	0.37%	0.38%	0.21%
40	Pragathi Krishna Gramin Bank	13.73	96.95%	1.24%	1.81%	1.02%
41	Andhra Pradesh Grameena Vikas Bank	13.71	98.92%	0.40%	0.68%	0.15%
42	Equitas Bank	13.44	98.64%	1.29%	0.07%	0.02%
43	Baroda UP Gramin Bank	13.13	99.48%	0.32%	0.21%	0.06%
44	ESAF Small Finance Bank Ltd.	12.08	98.74%	1.15%	0.11%	0.04%
45	Maharashtra Gramin Bank	12.02	97.96%	0.20%	1.84%	0.18%
46	Rajasthan Marudhara Gramin Bank	11.31	97.58%	0.46%	1.97%	0.14%
47	DBS Bank India Limited	11.13	98.39%	1.36%	0.26%	0.01%
48	Andhra Pragathi Grameena Bank	9.63	94.93%	0.22%	4.84%	0.40%
49	Sarva Haryana Gramin Bank	8.51	96.46%	0.35%	3.19%	0.92%
50	Sarva UP Gramin Bank	8.11	96.43%	0.51%	3.07%	0.96%

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'24)

UPI Apps (Sep'24)
Sr.No.	Application Name	Customer Initiated Transactions		B2C Transactions		B2B Transactions		Total
Sr.No.	Application Name	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
1	PhonePe #	7,221.22	10,30,871.00	0.00	0.00	0.00	0.00	7,221.22	10,30,871.00
2	Google Pay #	5,625.22	7,46,690.05	0.00	0.00	0.00	0.00	5,625.22	7,46,690.05
3	Paytm (OCL) #	1,064.62	1,13,351.53	0.00	0.01	0.00	0.00	1,064.62	1,13,351.54
4	Cred #	140.00	47,982.71	0.00	0.00	0.00	0.00	140.00	47,982.71
5	Navi #	120.41	6,549.10	0.00	0.00	0.00	0.00	120.41	6,549.10
6	Axis Bank Apps	17.88	4,248.02	102.50	1,736.70	0.01	1.76	120.38	5,986.48
7	Amazon Pay #	70.98	7,845.04	0.00	0.00	0.00	0.00	70.98	7,845.04
8	Fam App by Trio #	61.05	714.29	0.00	0.00	0.00	0.00	61.05	714.29
9	ICICI Bank Apps	50.84	17,864.44	0.01	7.85	2.74	3,203.84	53.59	21,076.12
10	WhatsApp #	48.75	3,586.71	0.00	0.00	0.00	0.00	48.75	3,586.71
11	Kotak Mahindra Bank Apps	47.14	6,413.16	0.00	0.00	0.00	0.00	47.14	6,413.16
12	HDFC Bank Apps	35.84	8,995.98	0.29	0.53	0.01	0.60	36.14	8,997.11
13	Yes Bank Apps	30.61	9,747.12	0.00	0.02	0.66	30.35	31.27	9,777.48
14	BHIM	26.39	8,466.30	0.00	0.00	0.00	0.00	26.39	8,466.30
15	super.money #	25.75	1,131.59	0.00	0.00	0.00	0.00	25.75	1,131.59
16	Airtel Payments Bank Apps	17.41	1,278.37	0.00	0.01	0.00	0.06	17.41	1,278.38
17	Mobikwik #	16.07	2,964.08	0.00	0.00	0.00	0.00	16.07	2,964.08
18	Groww #	13.46	9,526.49	0.00	0.00	0.00	0.00	13.46	9,526.49
19	Flipkart UPI #	12.85	734.80	0.00	0.00	0.00	0.00	12.85	734.80
20	Bajaj Finserv #	11.15	2,711.55	0.00	0.00	0.00	0.00	11.15	2,711.55
21	slice #	10.62	792.06	0.00	0.00	0.00	0.00	10.62	792.06
22	State Bank of India Apps	9.80	2,883.41	0.00	0.00	0.00	0.00	9.80	2,883.42
23	IDFC Bank Apps	8.33	1,838.99	0.00	0.00	0.00	0.00	8.33	1,838.99
24	Samsung Pay #	7.33	564.50	0.00	0.00	0.00	0.00	7.33	564.50
25	India Post Payments Bank Apps	6.96	908.78	0.00	0.00	0.00	0.00	6.96	908.78
26	Federal Bank Apps	6.30	918.67	0.00	0.00	0.00	0.00	6.30	918.67
27	Jupiter Money #	6.13	810.01	0.00	0.00	0.00	0.00	6.13	810.01
28	Deutsche Bank Apps	3.05	348.84	0.00	0.00	0.00	0.06	3.05	348.90
29	Canara Bank Apps	3.04	799.52	0.00	0.00	0.00	0.00	3.04	799.52
30	Jio Payments Bank Apps	2.79	212.23	0.00	0.00	0.00	0.00	2.79	212.23
31	Punjab National Bank Apps	2.74	606.83	0.00	0.00	0.00	0.00	2.74	606.83
32	Indian Bank Apps	2.69	424.84	0.00	0.00	0.00	0.05	2.69	424.89
33	Pop Club #	1.81	131.20	0.00	0.00	0.00	0.00	1.81	131.20
34	Timepay #	1.74	15.26	0.00	0.00	0.00	0.00	1.74	15.26
35	RBL Bank Apps	1.64	599.18	0.00	0.00	0.01	4.26	1.66	603.44
36	OmniCard	1.31	74.96	0.00	0.00	0.00	0.00	1.31	74.96
37	Bank of Baroda Apps	1.12	452.89	0.00	0.00	0.00	0.00	1.12	452.89
38	Central Bank of India Apps	0.97	189.93	0.00	0.00	0.00	0.00	0.97	189.93
39	Jammu and Kashmir Bank Apps	0.77	118.94	0.00	0.00	0.00	0.00	0.77	118.94
40	Aditya Birla Capital Digital	0.72	32.26	0.00	0.00	0.00	0.00	0.72	32.26
41	Union Bank Apps	0.62	212.37	0.00	0.00	0.00	0.00	0.62	212.37
42	South Indian Bank Apps	0.60	169.06	0.00	0.00	0.00	0.00	0.60	169.06
43	DBS Digibank Apps	0.52	199.76	0.00	0.00	0.00	0.66	0.52	200.42
44	HSBC Bank Apps	0.50	153.35	0.00	0.10	0.00	0.09	0.51	153.54
45	Fino Payments bank Apps	0.49	57.89	0.00	0.00	0.00	0.00	0.49	57.89
46	AU Small Finance Bank Apps	0.46	136.87	0.00	0.00	0.00	0.00	0.46	136.87
47	Digikhata	0.38	122.41	0.00	0.00	0.00	0.00	0.38	122.41
48	IndusInd Bank Apps	0.35	88.40	0.00	0.00	0.01	2.17	0.36	90.58
49	Shri Ram One #	0.35	42.33	0.00	0.00	0.00	0.00	0.35	42.33
50	Kiwi #	0.29	44.31	0.00	0.00	0.00	0.00	0.29	44.31
51	Suryoday Bank Apps	0.29	0.03	0.00	0.00	0.00	0.00	0.29	0.03
52	UCO Bank Apps	0.26	59.89	0.00	0.00	0.00	0.00	0.26	59.89
53	TataNeu #	0.21	40.50	0.00	0.00	0.00	0.00	0.21	40.50
54	Indian Overseas Bank Apps	0.17	48.02	0.00	0.00	0.00	0.00	0.17	48.02
55	Standard Chartered Bank Apps	0.17	108.84	0.00	0.00	0.00	0.02	0.17	108.86
56	Karnataka Bank Apps	0.15	31.93	0.00	0.00	0.00	0.00	0.15	31.93
57	Bank of India Apps	0.15	35.33	0.00	0.00	0.00	0.00	0.15	35.33
58	Dhani	0.13	15.76	0.00	0.00	0.00	0.00	0.13	15.76
59	Ultracash #	0.12	8.71	0.00	0.00	0.00	0.00	0.12	8.71
60	Niyo Global #	0.09	49.74	0.00	0.00	0.00	0.00	0.09	49.74
61	IDBI Bank Apps	0.09	34.69	0.00	0.00	0.00	0.00	0.09	34.69
62	NSDL Payments Bank Apps	0.08	10.60	0.00	0.00	0.00	0.00	0.08	10.60
63	City Union Bank Apps	0.07	27.34	0.00	0.00	0.00	0.00	0.07	27.34
64	Tamilnad Mercantile Bank Apps	0.07	22.04	0.00	0.00	0.00	0.00	0.07	22.04
65	Rapi Pay	0.06	9.55	0.00	0.00	0.00	0.00	0.06	9.55
66	Bharat Pe	0.06	6.03	0.00	0.00	0.00	0.00	0.06	6.03
67	True Balance	0.05	6.37	0.00	0.00	0.00	0.00	0.05	6.37
68	One Card #	0.05	27.93	0.00	0.00	0.00	0.00	0.05	27.93
69	Karur Vysya Bank Apps	0.05	16.83	0.00	0.00	0.00	0.00	0.05	16.83
70	Salary Se #	0.04	1.78	0.00	0.00	0.00	0.00	0.04	1.78
71	Freo Money #	0.04	1.91	0.00	0.00	0.00	0.00	0.04	1.91
72	Punjab Sind Bank Apps	0.03	16.39	0.00	0.00	0.00	0.00	0.03	16.39
73	Equitas Small Finance Bank Apps	0.03	24.45	0.00	0.00	0.00	0.00	0.03	24.45
74	Citi Bank Apps	0.03	1.76	0.00	0.00	0.00	0.17	0.03	1.93
75	Allahabad Bank Apps	0.02	5.54	0.00	0.00	0.00	0.00	0.02	5.54
76	Others	1.71	203.30	0.00	0.00	0.15	5.06	1.86	208.36

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 20,000 is included under ‘Other Apps’.
BHIM Volume is inclusive of *99# volume.
WhatsApp*: Maximum registered user base of hundred (100) million in UPI
3rd Party Apps (TPAP) Volume Market Share statistics excludes the cross-border transactions and new/recent features
On Us transactions of Airtel Payments Bank Apps have been incoroprated in B2B Payments
# Denotes 3rd Party Apps (TPAP)

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-24	15,041.75	20,63,994.71	5,688.87	14,97,941.07	9,352.88	5,66,053.64

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 (September'24)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	AXIS Bank Ltd.	4,933.71	94.09%	5.75%	0.16%
2	Yes bank Ltd.	4,885.12	91.71%	8.15%	0.14%
3	ICICI Bank Ltd.	2,819.10	93.52%	6.35%	0.13%
4	State Bank of India	1,634.70	95.72%	4.11%	0.16%
5	HDFC Bank Ltd.	1,568.06	95.01%	4.88%	0.11%
6	Tri O Tech Solutions Private Limited	61.01	100.00%	0.00%	0.00%
7	Kotak Mahindra Bank Ltd	47.42	100.00%	0.00%	0.00%
8	BHIM	31.28	93.32%	6.46%	0.22%
9	Airtel Payments Bank Ltd	18.16	95.91%	4.01%	0.08%
10	RBL Bank Ltd.	9.13	95.71%	4.16%	0.14%
11	IDFC First Bank	8.95	99.42%	0.57%	0.01%
12	India Post Payments Bank Ltd	6.96	99.99%	0.01%	0.00%
13	Federal Bank Ltd.	6.48	98.24%	1.73%	0.03%
14	One Mobikwik Systems Pvt - Ltd	6.18	100.00%	0.00%	0.00%
15	Garagepreneurs Internet Private Limited	4.83	100.00%	0.00%	0.00%

UPI Payee PSP Performance

UPI Payee PSP Performance (September'24)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes bank Ltd.	8,450.94	92.64%	7.21%	0.14%
2	AXIS Bank Ltd.	2,830.55	94.67%	5.18%	0.15%
3	ICICI Bank Ltd.	1,548.92	93.95%	5.90%	0.15%
4	HDFC Bank Ltd.	930.08	94.44%	5.42%	0.14%
5	State Bank of India	838.01	95.13%	4.72%	0.15%
6	Federal Bank Ltd.	331.05	96.91%	2.94%	0.15%
7	Indusind Bank Ltd.	104.81	92.33%	7.52%	0.15%
8	Canara Bank	96.46	95.4%	4.46%	0.14%
9	Airtel Payments Bank Limited	87.26	94.6%	5.27%	0.13%
10	RBL Bank Ltd.	65.9	92.68%	7.15%	0.17%
11	ONE MOBIKWIK SYSTEMS LIMITED	49.66	96.41%	3.45%	0.14%
12	Fino Payments Bank Ltd.	41.86	89.98%	9.85%	0.17%
13	Kotak Mahindra Bank	38.28	95.69%	4.15%	0.16%
14	Bank of Baroda	37.98	94.88%	4.99%	0.13%
15	Tri O Tech Solutions Private Limited	29.47	93.79%	6.04%	0.18%

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 24

UPI Merchant Category-wise Classification - Sep'24
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5814	Fast food restaurants
	5812	Eating places and restaurants
	4814	Telecommunication services, including local and long distance calls, credit card cal
	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
	5993	Cigar shops and stands
Medium Transacting Categories	5451	Dairies
	5311	Department stores
	7322	Debt collection agencies
	5813	Drinking places (alcoholic beverages) bars, taverns, night-clubs, cocktail lounges a
	5441	Candy, nut and confectionery shops
	5422	Freezer and locker meat provisioners
	5921	Package shops beer, wine and liquor
	5262	Online Marketplaces
	6211	Securities brokers and dealers
	7622	Electronics repair shops
All Other Categories	5732	Electronics shops
	9399	Government services not elsewhere classified
	7230	Beauty and barber shops
	5137	Mens, womens and childrens uniforms and commercial clothing
	4112	Passenger railways
	5331	Variety stores
	5691	Mens and womens clothing shops
	4121	Taxi-cabs and limousines
	7011	Lodging hotels, motels and resorts
	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 Member Remitter Performance (August'24)

UPI Remitter Members - Top 50 Members (Aug'24)
Sr. No.	UPI Remitter Members (Aug-2024)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank Of India	4,052.31	94.40%	5.39%	0.21%	11.86	98.58%
2	HDFC Bank Ltd.	1,270.59	95.28%	4.66%	0.06%	3.61	99.34%
3	Bank of Baroda	985.86	92.45%	6.95%	0.60%	3.26	95.42%
4	Union Bank Of India	941.93	93.51%	5.83%	0.65%	3.91	68.43%
5	Punjab national Bank	835.00	91.99%	7.92%	0.09%	2.96	95.13%
6	Kotak Mahindra Bank	772.93	92.43%	7.48%	0.09%	2.03	93.51%
7	Axis bank Ltd.	730.47	95.47%	4.53%	0.00%	1.67	98.74%
8	Canara Bank	722.42	93.11%	6.11%	0.78%	3.27	85.39%
9	ICICI Bank Ltd.	648.75	96.15%	3.76%	0.09%	1.37	96.47%
10	Bank Of India	478.26	93.86%	5.61%	0.53%	2.07	74.34%
11	Indian Bank	462.16	94.02%	5.92%	0.06%	1.36	95.17%
12	Airtel Payments Bank Ltd	437.93	90.01%	9.84%	0.15%	1.81	97.33%
13	India Post Payments Bank Ltd	349.66	88.27%	10.99%	0.74%	1.73	91.01%
14	Federal bank Ltd.	221.37	94.22%	5.75%	0.03%	0.59	99.43%
15	Central Bank of India	218.28	88.36%	11.05%	0.59%	1.08	81.74%
16	Indian Overseas Bank	217.93	92.44%	5.92%	1.64%	1.05	90.49%
17	UCO Bank	200.84	92.29%	7.59%	0.12%	0.77	89.65%
18	IDBI Bank	166.58	94.17%	5.57%	0.26%	0.75	91.64%
19	Indusind Bank Ltd.	165.70	91.49%	8.34%	0.17%	0.67	98.15%
20	Bank of Maharashtra	163.62	93.33%	6.41%	0.25%	0.53	84.69%
21	Fino Payments Bank Limited	151.38	92.78%	6.83%	0.39%	0.88	73.49%
22	Yes Bank Ltd.	126.41	93.91%	5.87%	0.23%	0.33	72.31%
23	Karnataka Bank	117.67	92.78%	7.01%	0.21%	0.39	81.20%
24	IDFC First Bank Ltd	89.97	93.64%	6.13%	0.23%	0.38	61.58%
25	Karur Vysya Bank	74.18	92.49%	6.22%	1.30%	0.42	74.66%
26	AU small Finance Bank	69.40	91.26%	8.72%	0.02%	0.16	97.18%
27	The Jammu & Kashmir Bank Limited	69.35	92.93%	5.02%	2.06%	0.84	31.42%
28	Bandhan Bank limited	66.15	93.24%	5.73%	1.03%	0.29	90.93%
29	The South Indian Bank Limited	60.30	95.07%	4.88%	0.05%	0.15	97.96%
30	Tri O Tech Solutions Private Limited	57.12	100.00%	0.00%	0.00%	#N/A	#N/A
31	Ujjivan Small Finance Bank Limited	45.73	94.25%	5.32%	0.42%	0.17	90.37%
32	City Union Bank	44.59	92.78%	6.73%	0.49%	0.14	96.77%
33	Punjab and Sind Bank	42.38	92.12%	7.39%	0.49%	0.24	81.24%
34	Tamilnad Mercantile Bank Limited	41.50	91.74%	7.81%	0.46%	0.14	77.29%
35	Kerala Gramin Bank	34.73	90.77%	6.37%	2.87%	0.39	70.78%
36	Equitas Small Finance Bank Ltd	32.89	92.09%	7.25%	0.66%	0.12	93.25%
37	Karnataka Gramin Bank (Erstwhile Pragathi Krishna Gramin Bank)	30.19	84.79%	7.38%	7.83%	0.84	50.55%
38	Andhra Pradesh Grameena Vikas Bank - IMPS	28.61	86.25%	12.84%	0.91%	0.10	76.11%
39	DBS Bank India Limited	28.32	93.80%	6.18%	0.03%	0.08	99.45%
40	Standard Chartered Bank	26.22	97.09%	2.89%	0.03%	0.06	93.72%
41	ESAF Small Finance Bank Ltd.	25.47	95.08%	4.72%	0.21%	0.09	90.60%
42	Saraswat Co-operative Bank	25.08	95.11%	4.76%	0.13%	0.07	91.58%
43	Maharashtra Gramin Bank	24.99	86.37%	12.27%	1.35%	0.09	84.89%
44	Baroda U.P. Bank (Erstwhile Baroda Uttar Pradesh Gramin Bank)	24.96	88.53%	8.79%	2.68%	0.25	39.56%
45	Rajasthan Marudhara Gramin Bank	23.83	86.87%	10.55%	2.58%	0.20	56.54%
46	Sarva Haryana Gramin Bank	20.33	87.70%	6.60%	5.70%	0.33	52.55%
47	Jio Payments Bank limited	20.10	82.02%	15.04%	2.94%	0.23	89.82%
48	RBL Bank Ltd.	18.51	90.75%	8.85%	0.40%	0.07	67.86%
49	NSDL Payments Bank Limited	18.11	84.73%	11.81%	3.47%	0.27	17.10%
50	Andhra Pragathi Grameena Bank	17.78	85.45%	12.94%	1.61%	0.09	61.42%

UPI Top 50 Member Beneficiary Performance (August'24)

UPI Beneficiary Members - Top 50 Members (Aug'24)
Sr.No.	UPI Beneficiary Members (Aug-2024)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Yes Bank Ltd.	6,021.00	99.99%	0.01%	0.00%	0.00%
2	State Bank Of India	1,562.83	99.73%	0.11%	0.15%	0.03%
3	Axis bank Ltd.	1,437.88	99.93%	0.07%	0.00%	0.01%
4	HDFC Bank Ltd.	729.74	99.09%	0.86%	0.05%	0.03%
5	ICICI Bank Ltd.	605.83	99.30%	0.64%	0.06%	0.02%
6	Bank of Baroda	430.60	99.55%	0.10%	0.35%	0.19%
7	Federal Bank Ltd.	411.62	99.75%	0.24%	0.01%	0.00%
8	Union Bank Of India	379.29	99.45%	0.11%	0.43%	0.09%
9	Canara Bank	364.14	98.59%	0.79%	0.62%	0.13%
10	Punjab national Bank	336.13	99.70%	0.29%	0.02%	0.07%
11	Kotak Mahindra Bank Ltd	292.43	99.62%	0.28%	0.10%	0.07%
12	Airtel Payments Bank Ltd	285.48	99.61%	0.30%	0.09%	0.03%
13	Indian Bank	235.76	99.00%	0.94%	0.07%	0.08%
14	Bank Of India	207.96	98.71%	0.84%	0.45%	0.17%
15	India Post Payments Bank Ltd	156.65	99.15%	0.30%	0.55%	0.04%
16	Indusind Bank Ltd.	146.14	99.30%	0.42%	0.28%	0.11%
17	Central Bank of India	109.19	96.05%	3.66%	0.28%	0.21%
18	Indian Overseas Bank	107.88	96.86%	1.84%	1.30%	0.55%
19	UCO Bank	90.38	99.31%	0.57%	0.12%	0.03%
20	Fino Payments Bank Ltd.	85.69	95.99%	3.57%	0.44%	0.06%
21	IDBI Bank Ltd.	70.75	99.54%	0.33%	0.13%	0.14%
22	Bank of Maharashtra	67.17	99.31%	0.34%	0.34%	0.07%
23	RBL Bank Ltd.	60.49	99.27%	0.42%	0.32%	0.19%
24	Karnataka Bank Ltd	52.41	99.26%	0.54%	0.19%	0.05%
25	Karur Vysya Bank	46.99	98.00%	1.23%	0.77%	0.27%
26	One Mobikwik Systems Pvt - Ltd	45.37	99.95%	0.03%	0.02%	0.00%
27	IDFC First Bank Ltd	39.12	98.68%	1.20%	0.12%	0.06%
28	South Indian Bank	38.46	99.08%	0.87%	0.04%	0.01%
29	Bandhan Bank Ltd.	38.00	98.56%	0.39%	1.04%	0.06%
30	Jammu and Kashmir Bank	37.39	99.23%	0.25%	0.53%	0.52%
31	AU small Finance Bank	36.23	98.80%	1.18%	0.02%	0.01%
32	Tamilnad Mercantile Bank	28.01	99.48%	0.09%	0.43%	0.08%
33	Tri O Tech Solutions Private Ltd.	27.57	96.28%	3.70%	0.02%	0.00%
34	City Union Bank	23.98	97.80%	1.70%	0.50%	0.01%
35	Ujjivan Small Finance Bank	22.97	98.91%	0.77%	0.32%	0.15%
36	Punjab and Sind Bank	20.54	98.57%	1.06%	0.37%	0.08%
37	KERALA GRAMIN BANK	18.28	97.28%	0.83%	1.89%	0.85%
38	CITI Bank	17.18	98.67%	1.22%	0.11%	0.04%
39	JIO PAYMENTS BANK LTD	14.70	98.20%	0.85%	0.94%	0.43%
40	Karnataka Gramin Bank (Erstwhile Pragathi Krishna Gramin Bank)	13.94	94.83%	0.91%	4.26%	2.26%
41	Equitas Small Finance Bank Ltd	13.80	97.69%	1.97%	0.34%	0.04%
42	Andhra Pradesh Grameena Vikas Bank	12.97	98.64%	0.41%	0.95%	0.07%
43	Baroda Uttar Pradesh Gramin Bank	12.43	97.54%	0.33%	2.13%	0.60%
44	ESAF Small Finance Bank Ltd.	11.85	98.74%	1.06%	0.20%	0.04%
45	Maharashtra Gramin Bank	11.41	98.29%	0.28%	1.43%	0.17%
46	DBS Bank India Ltd.	10.91	98.65%	1.33%	0.02%	0.01%
47	Rajasthan Marudhara Gramin Bank	10.52	97.75%	0.51%	1.74%	0.23%
48	Andhra Pragathi Grameena Bank	8.91	98.06%	0.23%	1.71%	0.13%
49	SARVA HARYANA GRAMIN BANK	8.71	95.16%	0.36%	4.48%	0.39%
50	Cosmos Bank	8.61	97.57%	0.34%	2.09%	1.20%

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'24)

UPI Apps (Aug'24)
Sr.No.	Application Name	Customer Initiated Transactions		B2C Transactions		B2B Transactions		Total
Sr.No.	Application Name	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
1	PhonePe #	7,236.49	10,33,264.34	-	-	-	-	7,236.49	10,33,264.34
2	Google Pay #	5,592.45	7,42,223.07	-	-	-	-	5,592.45	7,42,223.07
3	Paytm #	1,078.90	1,13,672.16	0.00	0.00	-	-	1,078.90	1,13,672.17
4	Cred #	147.48	50,720.89	-	-	-	-	147.48	50,720.89
5	Axis Bank Apps	18.05	4,189.44	95.91	1,642.70	0.01	2.21	113.97	5,834.35
6	Navi #	88.71	4,651.32	-	-	-	-	88.71	4,651.32
7	Amazon Pay #	70.72	7,744.21	-	-	-	-	70.72	7,744.21
8	FamApp by Trio	57.16	686.06	-	-	-	-	57.16	686.06
9	ICICI Bank Apps	48.59	18,120.13	0.01	6.62	2.72	3,182.57	51.31	21,309.33
10	Kotak Mahindra Bank Apps	46.94	6,349.00	-	-	-	-	46.94	6,349.00
11	WhatsApp #	45.43	3,421.99	-	-	-	-	45.43	3,421.99
12	HDFC Bank Apps	35.74	8,834.38	0.26	0.39	0.01	0.42	36.00	8,835.19
13	Yes Bank Apps	25.94	9,692.56	0.00	0.01	0.37	24.65	26.30	9,717.22
14	BHIM	25.94	8,363.28	-	-	-	-	25.94	8,363.28
15	Airtel Payments Bank Apps	17.56	1,221.85	0.00	0.01	-	-	17.56	1,221.86
16	Mobikwik #	14.94	3,012.52	-	-	-	-	14.94	3,012.52
17	Groww #	13.65	9,693.95	-	-	-	-	13.65	9,693.95
18	super.money #	11.63	385.77	-	-	-	-	11.63	385.77
19	Bajaj Finserv #	11.01	2,639.91	-	-	-	-	11.01	2,639.91
20	slice #	10.53	775.67	-	-	-	-	10.53	775.67
21	State Bank of India Apps	9.00	2,827.84			0.00	0.00	9.00	2,827.84
22	Flipkart UPI #	8.60	468.99	-	-	-	-	8.60	468.99
23	IDFC Bank Apps	8.01	1,768.92	-	-	0.00	0.00	8.01	1,768.92
24	Samsung Pay #	7.14	567.24	-	-	-	-	7.14	567.24
25	India Post Payments Bank Apps	7.04	906.00	-	-	-	-	7.04	906.00
26	Federal Bank Apps	6.25	901.05	-	-	-	-	6.25	901.05
27	Jupiter Money #	6.04	807.39	-	-	-	-	6.04	807.39
28	Deutsche Bank Apps	3.73	369.37	-	-	0.00	0.07	3.73	369.45
29	Canara Bank Apps	3.10	810.75	-	-	-	-	3.10	810.75
30	Jio Payments Bank Apps	2.62	201.60	-	-	-	-	2.62	201.60
31	Punjab National Bank Apps	2.57	595.26	-	-	-	-	2.57	595.26
32	Indian Bank Apps	2.26	373.47	-	-	0.00	0.28	2.26	373.75
33	RBL Bank Apps	1.53	548.79	0.00	0.00	0.02	5.51	1.55	554.30
34	Timepay #	1.29	12.89	-	-	0.00	0.02	1.29	12.90
35	Union Bank Apps	1.27	468.83	-	-	0.00	0.00	1.27	468.83
36	OmniCard #	1.21	61.66	-	-	-	-	1.21	61.66
37	Bank of Baroda Apps	1.13	449.45	-	-	-	-	1.13	449.45
38	Jammu and Kashmir Bank Apps	0.93	122.73	-	-	-	-	0.93	122.73
39	Central Bank of India Apps	0.85	173.27	-	-	-	-	0.85	173.27
40	Pop Club	0.77	72.62	-	-	-	-	0.77	72.62
41	South Indian Bank Apps	0.62	168.87	-	-	-	-	0.62	168.87
42	AU Small Finance Bank Apps	0.53	155.57	-	-	-	-	0.53	155.57
43	DBS Digibank Apps	0.52	198.88	-	-	0.00	0.58	0.52	199.46
44	Aditya Birla Capital Digital	0.51	16.36	-	-	-	-	0.51	16.36
45	HSBC Bank Apps	0.49	168.50	0.00	0.09	0.00	0.00	0.49	168.59
46	Fino Payments bank Apps	0.46	54.37	-	-	-	-	0.46	54.37
47	IndusInd Bank Apps	0.37	99.26	-	-	0.01	2.23	0.37	101.49
48	Digikhata #	0.33	110.14	-	-	-	-	0.33	110.14
49	Shri Ram One #	0.33	37.87	-	-	-	-	0.33	37.87
50	Kiwi #	0.29	37.80	-	-	-	-	0.29	37.80
51	UCO Bank Apps	0.24	53.95	-	-	-	-	0.24	53.95
52	Suryoday Bank Apps	0.21	0.02	-	-	0.00	0.00	0.21	0.02
53	Karnataka Bank Apps	0.19	39.14	-	-	0.00	0.00	0.19	39.14
54	TataNeu #	0.18	28.51	-	-	-	-	0.18	28.51
55	Standard Chartered Bank Apps	0.18	116.65	-	-	0.00	0.03	0.18	116.68
56	Indian Overseas Bank Apps	0.17	46.55	-	-	-	-	0.17	46.55
57	Dhani	0.12	15.89	-	-	-	-	0.12	15.89
58	Ultracash	0.12	8.68	-	-	-	-	0.12	8.68
59	Bank of India Apps	0.11	28.04	-	-	-	-	0.11	28.04
60	IDBI Bank Apps	0.09	33.76	-	-	-	-	0.09	33.76
61	City Union Bank Apps	0.08	29.36	-	-	-	-	0.08	29.36
62	Niyo Global	0.08	40.29	-	-	-	-	0.08	40.29
63	Tamilnad Mercantile Bank Apps	0.08	24.17	-	-	-	-	0.08	24.17
64	NSDL Payments Bank Apps	0.08	11.72	-	-	-	-	0.08	11.72
65	Karur Vysya Bank Apps	0.06	21.00	-	-	-	-	0.06	21.00
66	Rapi Pay	0.06	9.04	-	-	-	-	0.06	9.04
67	Equitas Small Finance Bank Apps	0.04	26.40	-	-	-	-	0.04	26.40
68	Punjab Sind Bank Apps	0.03	13.83	-	-	-	-	0.03	13.83
69	Allahabad Bank Apps	0.02	5.13	-	-	-	-	0.02	5.13
70	Others	1.66	226.14	-	-	0.15	4.44	1.82	230.58

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 20,000 is included under ‘Other Apps’.
BHIM Volume is inclusive of *99# volume.
WhatsApp*: Maximum registered user base of hundred (100) million in UPI
3rd Party Apps (TPAP) Volume Market Share statistics excludes the cross-border transactions and new/recent features
On Us transactions of Airtel Payments Bank Apps have been incoroprated in B2B Payments
# Denotes 3rd Party Apps (TPAP)

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'24	14,963.05	20,60,735.57	5,625.77	14,84,591.00	9,337.28	5,76,144.57

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 (August'24)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes bank Ltd.	4,993.30	91.88%	8.03%	0.09%
2	AXIS Bank Ltd.	4,967.63	94.27%	5.64%	0.09%
3	ICICI Bank Ltd.	2,879.50	93.59%	6.32%	0.09%
4	HDFC Bank Ltd.	1,538.03	95.10%	4.83%	0.07%
5	State Bank of India	1,371.70	95.65%	4.25%	0.11%
6	Tri O Tech Solutions Private Limited	57.12	100.00%	0.00%	0.00%
7	Kotak Mahindra Bank Ltd	47.21	100.00%	0.00%	0.00%
8	BHIM	30.42	93.34%	6.54%	0.12%
9	Airtel Payments Bank Ltd	18.37	95.59%	4.36%	0.05%
10	RBL Bank Ltd.	9.51	95.19%	4.72%	0.09%
11	IDFC First Bank	8.62	99.41%	0.58%	0.00%
12	India Post Payments Bank Ltd	7.05	99.96%	0.04%	0.00%
13	Federal Bank Ltd.	6.39	98.10%	1.89%	0.01%
14	One Mobikwik Systems Pvt - Ltd	5.32	100.00%	0.00%	0.00%
15	Garagepreneurs Internet Private Limited	4.73	100.00%	0.00%	0.00%

UPI Payee PSP Performance

UPI Payee PSP Performance (August'24)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes bank Ltd.	8,408.55	92.86%	7.05%	0.09%
2	AXIS Bank Ltd.	2,755.65	94.66%	5.25%	0.09%
3	ICICI Bank Ltd.	1,582.25	93.85%	6.06%	0.09%
4	HDFC Bank Ltd.	934.55	94.36%	5.56%	0.08%
5	State Bank of India	805.11	94.97%	4.94%	0.09%
6	Federal Bank Ltd.	342.68	97.03%	2.89%	0.08%
7	Indusind Bank Ltd.	95.73	92.96%	6.95%	0.09%
8	Airtel Payments Bank Limited	89.1	94.8%	5.12%	0.08%
9	Canara Bank	86.26	95.41%	4.51%	0.08%
10	RBL Bank Ltd.	60.39	93.0%	6.87%	0.13%
11	ONE MOBIKWIK SYSTEMS LIMITED	46.96	96.54%	3.38%	0.08%
12	The Cosmos Co-Operative Bank Ltd	42.88	90.01%	9.83%	0.16%
13	Kotak Mahindra Bank	40.26	95.61%	4.31%	0.08%
14	Fino Payments Bank Ltd.	35.84	90.38%	9.47%	0.15%
15	Indian Bank	35.23	93.27%	6.62%	0.11%

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 - Aug 24

UPI Merchant Category-wise Classification - Aug'24
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5814	Fast food restaurants
	5812	Eating places and restaurants
	4814	Telecommunication services, including local and long distance calls
	5541	Service stations (with or without ancillary services)
	5816	Digital Goods: Games
	5912	Drug stores and pharmacies
	5462	Bakeries
	5311	Department stores
	4900	Utilities electric, gas, water and sanitary
Medium Transacting Categories	5451	Dairies
	7322	Debt collection agencies
	5813	Drinking places (alcoholic beverages) bars, taverns, night-clubs
	5441	Candy, nut and confectionery shops
	5993	Cigar shops and stands
	5921	Package shops beer, wine and liquor
	6211	Securities brokers and dealers
	7622	Electronics repair shops
	5422	Freezer and locker meat provisioners
	5732	Electronics shops
All Other Categories	5137	Mens, womens and childrens uniforms and commercial clothing
	5262	Online Marketplaces
	7230	Beauty and barber shops
	9399	Government services not elsewhere classified
	4112	Passenger railways
	5331	Variety stores
	5691	Mens and womens clothing shops
	4121	Taxi-cabs and limousines
	7011	Lodging hotels, motels and resorts
	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 Member Remitter Performance (July'24)

UPI Remitter Members - Top 50 Members (Jul'24)
Sr. No.	UPI Remitter Members (Jul-2024)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank Of India	3,912.83	94.55%	5.31%	0.14%	12.09	96.94%
2	HDFC Bank Ltd.	1,214.73	95.21%	4.78%	0.00%	3.67	98.69%
3	Bank of Baroda	954.81	92.35%	7.06%	0.59%	3.76	88.84%
4	Union Bank Of India	905.83	94.14%	5.76%	0.10%	3.33	74.06%
5	Punjab national Bank	837.23	89.63%	10.27%	0.10%	3.21	93.14%
6	Kotak Mahindra Bank	746.29	92.59%	7.22%	0.19%	2.58	78.21%
7	Axis bank Ltd.	697.05	95.55%	4.45%	0.00%	1.68	97.33%
8	Canara Bank	688.87	93.41%	6.23%	0.36%	3.78	70.71%
9	ICICI Bank Ltd.	629.64	96.15%	3.83%	0.02%	1.66	93.07%
10	Bank Of India	462.31	93.79%	5.40%	0.81%	2.36	66.06%
11	Indian Bank	449.31	94.10%	5.88%	0.02%	1.27	94.42%
12	Airtel Payments Bank Ltd	430.92	89.21%	10.65%	0.14%	1.61	93.76%
13	India Post Payments Bank Ltd	336.13	84.74%	12.89%	2.38%	2.23	53.95%
14	Federal bank Ltd.	214.60	94.25%	5.71%	0.04%	0.60	97.44%
15	Central Bank of India	211.52	88.33%	11.36%	0.32%	1.00	89.37%
16	Indian Overseas Bank	210.05	94.08%	5.68%	0.24%	0.78	91.89%
17	UCO Bank	194.92	92.01%	7.30%	0.68%	1.00	78.83%
18	IDBI Bank	161.72	93.74%	5.72%	0.54%	1.02	52.33%
19	Indusind Bank Ltd.	161.53	92.09%	7.83%	0.09%	0.81	87.52%
20	Bank of Maharashtra	155.62	92.94%	5.91%	1.15%	1.18	64.44%
21	Fino Payments Bank Limited	145.95	92.59%	7.23%	0.18%	0.68	78.50%
22	Yes Bank Ltd.	123.36	94.10%	5.85%	0.05%	0.31	82.90%
23	Karnataka Bank	113.52	92.56%	7.17%	0.27%	0.48	79.11%
24	IDFC First Bank Ltd	87.50	93.27%	6.62%	0.11%	0.36	70.12%
25	Karur Vysya Bank	71.96	93.18%	6.38%	0.44%	0.28	89.14%
26	The Jammu & Kashmir Bank Limited	68.27	89.99%	4.67%	5.34%	0.74	31.87%
27	Bandhan Bank limited	63.78	93.27%	5.64%	1.10%	0.26	96.54%
28	The South Indian Bank Limited	56.93	94.92%	5.06%	0.02%	0.23	81.02%
29	Tri O Tech Solutions Private Limited	52.10	99.80%	0.20%	0.00%	-	#N/A
30	AU Small Finance Bank	48.46	93.76%	6.23%	0.02%	0.18	93.22%
31	Ujjivan Small Finance Bank Limited	45.78	94.02%	5.70%	0.28%	0.28	59.89%
32	City Union Bank	43.40	92.80%	6.94%	0.26%	0.12	90.14%
33	Punjab and Sind Bank	40.75	91.88%	7.60%	0.52%	0.24	83.76%
34	Tamilnad Mercantile Bank Limited	40.33	91.64%	8.16%	0.20%	0.23	57.68%
35	Equitas Small Finance Bank Ltd	33.37	91.72%	7.51%	0.77%	0.15	81.82%
36	Kerala Gramin Bank	31.93	92.26%	5.89%	1.85%	0.31	83.44%
37	Karnataka Gramin Bank (Erstwhile Pragathi Krishna Gramin Bank)	28.68	89.64%	7.23%	3.13%	0.42	73.14%
38	Andhra Pradesh Grameena Vikas Bank - IMPS	27.69	85.15%	11.47%	3.38%	0.13	69.04%
39	DBS Bank India Limited	27.67	93.99%	5.98%	0.03%	0.08	95.30%
40	Rajasthan Marudhara Gramin Bank	25.58	79.63%	9.90%	10.47%	0.35	26.42%
41	Maharashtra Gramin Bank	25.52	78.50%	10.43%	11.07%	0.18	33.96%
42	Standard Chartered Bank	25.11	97.04%	2.95%	0.01%	0.07	93.06%
43	ESAF Small Finance Bank Ltd.	24.06	94.84%	4.94%	0.22%	0.08	93.14%
44	Saraswat Co-operative Bank	23.62	94.54%	5.13%	0.33%	0.12	63.03%
45	Baroda U.P. Bank (Erstwhile Baroda Uttar Pradesh Gramin Bank)	23.44	84.61%	9.14%	6.25%	0.58	18.67%
46	AU Small Finance Bank (Erstwhile Fincare)	20.27	85.18%	14.37%	0.45%	0.08	91.52%
47	Sarva Haryana Gramin Bank	20.25	90.64%	8.39%	0.96%	0.14	64.20%
48	Jio Payments Bank limited	18.37	84.71%	13.55%	1.75%	0.21	94.31%
49	Andhra Pragathi Grameena Bank	17.96	79.80%	12.21%	7.99%	0.08	60.11%
50	RBL Bank Ltd.	17.66	90.29%	8.87%	0.84%	0.10	60.52%

UPI Top 50 Member Beneficiary Performance (July'24)

UPI Beneficiary Banks - Top 50 Banks (Jul'24)
Sr.No.	UPI Beneficiary Banks (Jul-2024)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Yes Bank Ltd.	5,731.24	99.93%	0.01%	0.06%	0.01%
2	State Bank Of India	1,591.84	99.66%	0.11%	0.23%	0.04%
3	Axis bank Ltd.	1,364.34	99.91%	0.09%	0.00%	0.01%
4	HDFC Bank Ltd.	690.05	98.78%	0.98%	0.23%	0.03%
5	ICICI Bank Ltd.	604.23	99.40%	0.51%	0.09%	0.03%
6	Bank of Baroda	455.61	99.44%	0.09%	0.47%	0.47%
7	Federal Bank Ltd.	396.82	99.66%	0.25%	0.09%	0.00%
8	Union Bank Of India	368.24	99.59%	0.12%	0.29%	0.08%
9	Punjab national Bank	334.33	99.53%	0.30%	0.18%	0.23%
10	Canara Bank	326.46	98.95%	0.83%	0.21%	0.17%
11	Kotak Mahindra Bank Ltd	284.52	99.33%	0.31%	0.36%	0.18%
12	Airtel Payments Bank Ltd	267.22	99.25%	0.34%	0.41%	0.05%
13	Indian Bank	247.02	99.12%	0.74%	0.13%	0.16%
14	Bank Of India	212.52	98.47%	0.71%	0.82%	0.56%
15	India Post Payments Bank Ltd	145.20	98.01%	0.28%	1.71%	0.18%
16	Indusind Bank Ltd.	131.62	99.35%	0.43%	0.22%	0.04%
17	Indian Overseas Bank	102.09	98.59%	1.13%	0.28%	0.23%
18	Central Bank of India	100.29	97.86%	1.86%	0.28%	0.12%
19	UCO Bank	90.28	98.56%	0.73%	0.71%	0.19%
20	Fino Payments Bank Ltd.	76.94	96.50%	3.07%	0.43%	0.04%
21	IDBI Bank Ltd.	69.43	99.22%	0.35%	0.43%	0.16%
22	Bank of Maharashtra	64.74	98.40%	0.39%	1.21%	0.32%
23	RBL Bank Ltd.	51.19	98.83%	0.58%	0.59%	0.15%
24	Karnataka Bank Ltd	50.14	98.72%	0.86%	0.41%	0.08%
25	One Mobikwik Systems Pvt - Ltd	40.24	99.90%	0.03%	0.07%	0.00%
26	Karur Vysya Bank	39.80	98.72%	1.05%	0.24%	0.08%
27	IDFC First Bank Ltd	38.86	98.58%	1.28%	0.14%	0.05%
28	Bandhan Bank Ltd.	37.36	98.39%	0.36%	1.25%	0.03%
29	Jammu and Kashmir Bank	36.14	96.47%	0.28%	3.25%	0.50%
30	South Indian Bank	35.99	98.76%	0.96%	0.27%	0.06%
31	AU small Finance Bank	27.37	99.10%	0.82%	0.08%	0.03%
32	Tamilnad Mercantile Bank	27.15	99.27%	0.10%	0.63%	0.15%
33	Tri O Tech Solutions Private Ltd.	25.53	96.21%	3.75%	0.03%	0.00%
34	City Union Bank	22.90	98.08%	1.61%	0.31%	0.05%
35	Ujjivan Small Finance Bank	22.88	98.57%	0.70%	0.74%	0.29%
36	Punjab and Sind Bank	18.60	99.20%	0.25%	0.55%	0.09%
37	CITI Bank	17.74	97.85%	1.49%	0.66%	0.13%
38	KERALA GRAMIN BANK	17.02	97.75%	0.85%	1.39%	0.57%
39	Cosmos Bank	15.36	98.92%	0.16%	0.92%	0.09%
40	Equitas Small Finance Bank Ltd	14.09	97.83%	1.65%	0.52%	0.08%
41	Karnataka Gramin Bank (Erstwhile Pragathi Krishna Gramin Bank)	13.72	97.20%	0.91%	1.89%	1.07%
42	Andhra Pradesh Grameena Vikas Bank	13.16	95.15%	0.70%	4.14%	0.10%
43	Maharashtra Gramin Bank	12.26	85.13%	0.18%	14.68%	0.49%
44	Baroda Uttar Pradesh Gramin Bank	11.74	94.84%	0.30%	4.86%	1.72%
45	JIO PAYMENTS BANK LTD	11.60	98.37%	0.83%	0.80%	0.23%
46	Rajasthan Marudhara Gramin Bank	11.60	87.43%	0.42%	12.15%	0.69%
47	ESAF Small Finance Bank Ltd.	11.35	98.70%	1.06%	0.25%	0.15%
48	DBS Bank India Ltd.	10.79	98.42%	1.33%	0.24%	0.01%
49	Andhra Pragathi Grameena Bank	9.58	87.24%	0.39%	12.37%	0.08%
50	Fincare Small Finance Bank Ltd	9.16	95.02%	4.32%	0.65%	0.02%

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'24)

UPI Apps (Jul'24)
Sr.No.	Application Name	Customer Initiated Transactions		B2C Transactions		B2B Transactions		Total
Sr.No.	Application Name	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
1	PhonePe #	6983.97	1028799.39	0.00	0.00	0.00	0.00	6983.97	1028799.39
2	Google Pay #	5341.23	735159.20	0.00	0.00	0.00	0.00	5341.23	735159.20
3	Paytm (OCL ) #	1128.97	123467.32	0.00	0.00	0.00	0.00	1128.97	123467.33
4	Cred #	142.56	48998.89	0.00	0.00	0.00	0.00	142.56	48998.89
5	Axis Bank Apps	15.45	3943.51	93.11	2389.15	0.01	2.40	108.57	6335.06
6	Amazon Pay #	72.41	7995.92	0.00	0.00	0.00	0.00	72.41	7995.92
7	Navi #	68.47	3574.61	0.00	0.00	0.00	0.00	68.47	3574.61
8	ICICI Bank Apps	42.13	17883.79	3.46	405.17	7.32	10240.43	52.91	28529.39
9	Fampay by Trio #	52.04	639.44	0.00	0.00	0.00	0.00	52.04	639.44
10	Kotak Mahindra Bank Apps	44.80	6488.28	0.00	0.00	0.00	0.00	44.80	6488.28
11	WhatsApp #	41.39	3215.18	0.00	0.00	0.00	0.00	41.39	3215.18
12	HDFC Bank Apps	35.25	8747.15	0.02	0.07	0.00	0.28	35.28	8747.50
13	BHIM	24.64	8756.73	0.00	0.00	0.00	0.00	24.64	8756.73
14	Yes Bank Apps	23.81	9556.22	0.00	0.00	0.27	26.99	24.08	9583.20
15	Airtel Payments Bank Apps	16.63	1210.03	0.00	0.00	0.85	0.29	17.48	1210.32
16	Groww #	15.18	12129.34	0.00	0.00	0.00	0.00	15.18	12129.34
17	Bajaj Finserv #	9.90	2309.58	0.00	0.00	0.00	0.00	9.90	2309.58
18	Slice #	9.41	708.27	0.00	0.00	0.00	0.00	9.41	708.27
19	Mobikwik #	9.11	2431.73	0.00	0.00	0.00	0.00	9.11	2431.73
20	State Bank of India Apps	8.06	2691.74	0.00	0.00	0.00	0.00	8.06	2691.74
21	IDFC Bank Apps	7.63	1725.98	0.00	0.00	0.00	0.00	7.63	1725.98
22	Flipkart UPI #	7.12	422.36	0.00	0.00	0.00	0.00	7.12	422.36
23	Samsung Pay #	6.60	558.51	0.00	0.00	0.00	0.00	6.60	558.51
24	India Post Payments Bank Apps	6.43	826.31	0.00	0.00	0.00	0.00	6.43	826.31
25	Federal Bank Apps	5.95	848.66	0.00	0.00	0.00	0.00	5.95	848.66
26	Jupiter Money #	5.76	781.04	0.00	0.00	0.00	0.00	5.76	781.04
27	Canara Bank Apps	3.04	834.74	0.00	0.00	0.00	0.00	3.04	834.74
28	Federal Bank Apps	2.68	460.69	0.00	0.00	0.00	0.00	2.68	460.69
29	Jio Payments Bank Apps	2.53	199.65	0.00	0.00	0.00	0.00	2.53	199.65
30	super.money #	2.50	75.70	0.00	0.00	0.00	0.00	2.50	75.70
31	Deutsche Bank Apps	2.43	344.47	0.00	0.00	0.00	0.06	2.44	344.53
32	Timepay #	2.16	20.43	0.00	0.00	0.00	0.08	2.16	20.52
33	Punjab National Bank Apps	2.15	563.99	0.00	0.00	0.00	0.00	2.15	563.99
34	Indian Bank Apps	1.95	342.38	0.00	0.00	0.00	2.45	1.95	344.83
35	RBL Bank Apps	1.41	336.63	0.00	0.00	0.05	18.14	1.46	354.77
36	Union Bank Apps	1.28	530.92	0.00	0.00	0.00	0.00	1.28	530.92
37	Omnicard #	1.20	54.57	0.00	0.00	0.00	0.00	1.20	54.57
38	Bank of Baroda Apps	1.07	477.60	0.00	0.00	0.00	0.39	1.07	477.99
39	Jammu and Kashmir Bank Apps	0.87	111.92	0.00	0.00	0.00	0.00	0.87	111.92
40	Central Bank of India Apps	0.83	180.98	0.00	0.00	0.00	0.00	0.83	180.98
41	AU Small Finance Bank Apps	0.66	202.05	0.00	0.00	0.00	0.00	0.66	202.05
42	South Indian Bank Apps	0.56	159.32	0.00	0.00	0.00	0.00	0.56	159.32
43	DBS Digibank Apps	0.52	205.42	0.00	0.00	0.00	0.61	0.53	206.03
44	POPClub#	0.45	34.71	0.00	0.00	0.00	0.00	0.45	34.71
45	Fino Payments bank Apps	0.44	58.11	0.00	0.00	0.00	0.00	0.44	58.11
46	HSBC Bank Apps	0.44	152.09	0.00	0.05	0.00	0.00	0.44	152.15
47	IndusInd Bank Apps	0.37	99.64	0.00	0.00	0.01	1.48	0.38	101.12
48	Shri Ram One #	0.30	35.64	0.00	0.00	0.00	0.00	0.30	35.64
49	Digikhata #	0.26	83.11	0.00	0.00	0.00	0.00	0.26	83.11
50	UCO Bank Apps	0.24	69.95	0.00	0.00	0.00	0.00	0.24	69.95
51	Karnataka Bank Apps	0.19	39.14	0.00	0.00	0.00	0.00	0.19	39.14
52	Standard Chartered Bank Apps	0.17	116.68	0.00	0.00	0.00	0.04	0.17	116.72
53	TataNeu #	0.17	26.16	0.00	0.00	0.00	0.00	0.17	26.16
54	Indian Overseas Bank Apps	0.15	45.13	0.00	0.00	0.00	0.00	0.15	45.13
55	Kiwi	0.15	30.35	0.00	0.00	0.00	0.00	0.15	30.35
56	Suryoday Bank Apps	0.13	0.03	0.00	0.00	0.00	0.00	0.13	0.03
57	Dhani #	0.11	15.91	0.00	0.00	0.00	0.00	0.11	15.91
58	Ultracash #	0.10	7.35	0.00	0.00	0.00	0.00	0.10	7.35
59	Bank of India Apps	0.08	20.12	0.00	0.00	0.00	0.00	0.08	20.12
60	Tamilnad Mercantile Bank Apps	0.08	24.19	0.00	0.00	0.00	0.00	0.08	24.19
61	City Union Bank Apps	0.08	28.82	0.00	0.00	0.00	0.00	0.08	28.82
62	IDBI Bank Apps	0.08	32.92	0.00	0.00	0.00	0.00	0.08	32.92
63	Aditya Birla Capital Digital Limited	0.08	3.70	0.00	0.00	0.00	0.00	0.08	3.70
64	NSDL Payments Bank Apps	0.07	10.63	0.00	0.00	0.00	0.00	0.07	10.63
65	Citi Bank Apps	0.06	33.95	0.00	0.00	0.01	0.59	0.07	34.54
66	Bank of Maharashtra Apps	0.06	13.25	0.00	0.00	0.00	0.02	0.06	13.27
67	Niyo Global #	0.06	28.59	0.00	0.00	0.00	0.00	0.06	28.59
68	Karur Vysya Bank Apps	0.06	20.69	0.00	0.00	0.00	0.00	0.06	20.69
69	Rapi Pay #	0.04	5.95	0.00	0.00	0.00	0.00	0.04	5.95
70	Equitas Small Finance Bank Apps	0.04	28.20	0.00	0.00	0.00	0.00	0.04	28.20
71	Punjab Sind Bank Apps	0.03	14.96	0.00	0.00	0.00	0.00	0.03	14.96
72	Allahabad Bank Apps	0.02	5.19	0.00	0.00	0.00	0.00	0.02	5.19
73	Other Apps	1.34	191.87	0.00	0.08	0.15	3.99	1.48	195.85

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 20,000 is included under ‘Other Apps’.
BHIM Volume is inclusive of *99# volume.
WhatsApp*: Maximum registered user base of hundred (100) million in UPI
3rd Party Apps (TPAP) Volume Market Share statistics excludes the cross-border transactions and new/recent features
On Us transactions of Airtel Payments Bank Apps have been incoroprated in B2B Payments
# Denotes 3rd Party Apps (TPAP)

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'24	14,435.55	20,64,292.40	5,435.96	14,71,369.99	8,999.59	5,92,922.41

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 (July'24)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes bank Ltd.	5,164.19	92.02%	7.86%	0.12%
2	AXIS Bank Ltd.	4,393.74	93.86%	6.01%	0.13%
3	ICICI Bank Ltd.	2,762.62	93.29%	6.58%	0.13%
4	State Bank of India	1,521.58	95.47%	4.40%	0.13%
5	HDFC Bank Ltd.	1,394.09	94.81%	5.08%	0.11%
6	Tri O Tech Solutions Private Limited	52.00	100.00%	0.00%	0.00%
7	Kotak Mahindra Bank Ltd	45.05	100.00%	0.00%	0.00%
8	BHIM	29.02	93.13%	6.72%	0.16%
9	Airtel Payments Bank Ltd	17.37	95.73%	4.20%	0.07%
10	RBL Bank Ltd.	8.95	94.86%	5.00%	0.14%
11	IDFC First Bank	8.16	99.41%	0.59%	0.00%
12	India Post Payments Bank Ltd	6.43	99.98%	0.02%	0.00%
13	Federal Bank Ltd.	6.10	98.00%	1.98%	0.02%
14	One Mobikwik Systems Pvt - Ltd	4.40	100.00%	0.00%	0.00%
15	Garagepreneurs Internet Private Limited	4.37	100.00%	0.00%	0.00%

UPI Payee PSP Performance

UPI Payee PSP Performance (July'24)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes bank Ltd.	8,202.97	92.89%	6.99%	0.12%
2	AXIS Bank Ltd.	2,586.30	94.23%	5.65%	0.13%
3	ICICI Bank Ltd.	1,521.57	93.37%	6.51%	0.12%
4	State Bank of India	848.08	94.39%	5.49%	0.11%
5	HDFC Bank Ltd.	838.86	94.10%	5.79%	0.11%
6	Federal Bank Ltd.	328.61	96.84%	3.04%	0.11%
7	THE COSMOS CO-OPERATIVE BANK LTD	130.34	89.26%	10.56%	0.18%
8	Indusind Bank Ltd.	81.05	93.85%	6.02%	0.13%
9	Airtel Payments Bank Ltd	68.42	94.48%	5.41%	0.12%
10	Canara Bank	57.74	95.86%	4.03%	0.11%
11	RBL Bank Ltd.	50.12	93.29%	6.55%	0.16%
12	One Mobikwik Systems Pvt - Ltd	41.71	96.38%	3.51%	0.12%
13	Kotak Mahindra Bank Ltd	38.70	95.27%	4.63%	0.10%
14	Bank Of India IBM	22.13	94.51%	5.29%	0.20%
15	Indian Bank	32.80	92.79%	7.06%	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 Merchant Category Classification - Jul 24

UPI Merchant Category-wise Classification - Jul'24
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5814	Fast food restaurants
	5812	Eating places and restaurants
	4814	Telecommunication services, including local and long distance calls, credit card cal
	5541	Service stations (with or without ancillary services)
	5816	Digital Goods: Games
	5912	Drug stores and pharmacies
	5462	Bakeries
	5311	Department stores
	4900	Utilities electric, gas, water and sanitary
Medium Transacting Categories	5451	Dairies
	7322	Debt collection agencies
	5813	Drinking places (alcoholic beverages) bars, taverns, night-clubs, cocktail lounges a
	5441	Candy, nut and confectionery shops
	6211	Securities brokers and dealers
	5422	Freezer and locker meat provisioners
	5921	Package shops beer, wine and liquor
	5993	Cigar shops and stands
	5262	Online Marketplaces
	7622	Electronics repair shops
All Other Categories	9399	Government services not elsewhere classified
	5732	Electronics shops
	7230	Beauty and barber shops
	5137	Mens, womens and childrens uniforms and commercial clothing
	4112	Passenger railways
	5331	Variety stores
	4121	Taxi-cabs and limousines
	5691	Mens and womens clothing shops
	4812	Telecommunication equipment and telephone sales
	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 Member Remitter Performance (June'24)

UPI Remitter Members - Top 50 Members (Jun'24)
Sr. No.	UPI Remitter Members (Jun-2024)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank of India	3738.00	94.82%	4.95%	0.22%	10.49	97.79%
2	HDFC Bank Ltd	1191.85	95.43%	4.34%	0.23%	6.03	36.91%
3	Bank of Baroda	912.47	93.28%	6.39%	0.33%	4.43	99.54%
4	Union Bank of India	869.16	93.98%	5.74%	0.28%	3.33	70.38%
5	Punjab National Bank	783.70	93.53%	6.07%	0.40%	3.12	76.21%
6	Kotak Mahindra Bank Ltd	727.46	92.20%	6.93%	0.86%	2.68	95.04%
7	Canara Bank	657.78	92.85%	6.43%	0.72%	2.57	97.38%
8	Axis Bank Ltd.	651.80	95.59%	4.40%	0.02%	1.92	79.47%
9	ICICI Bank Ltd	620.66	96.19%	3.76%	0.05%	1.67	80.79%
10	Bank Of India	444.39	94.18%	5.51%	0.32%	1.60	60.95%
11	Indian Bank	423.92	94.06%	5.76%	0.19%	1.56	99.57%
12	Airtel Payments Bank Ltd	414.12	88.87%	10.12%	1.01%	1.51	95.88%
13	India Post Payments Bank Ltd	319.04	85.95%	12.05%	2.00%	1.44	71.65%
14	Federal Bank	205.99	94.34%	5.61%	0.06%	1.25	93.66%
15	Central Bank of India	202.35	86.99%	11.27%	1.74%	1.00	13.58%
16	Indian Overseas Bank	197.11	92.98%	5.54%	1.48%	0.86	98.72%
17	UCO Bank	184.42	93.38%	6.35%	0.27%	0.84	65.10%
18	IDBI Bank	155.97	94.24%	5.25%	0.51%	0.78	78.29%
19	Indusind Bank Ltd.	155.09	91.86%	7.68%	0.46%	0.73	77.15%
20	Bank of Maharashtra	150.89	93.21%	5.77%	1.01%	0.71	64.69%
21	Fino Payments Bank Ltd.	140.81	92.49%	7.16%	0.36%	0.67	67.82%
22	Yes bank Ltd.	118.94	94.04%	5.79%	0.17%	0.56	98.82%
23	Karnataka Bank Ltd	108.50	93.12%	6.42%	0.46%	0.50	35.88%
24	IDFC Bank Ltd.	85.74	93.06%	6.88%	0.06%	0.44	68.83%
25	Karur Vysya Bank	67.93	93.39%	6.14%	0.47%	0.40	77.80%
26	The Jammu And Kashmir Bank Ltd	65.45	93.49%	4.86%	1.66%	0.38	54.07%
27	Bandhan Bank Ltd.	59.26	92.99%	6.11%	0.90%	0.31	4.32%
28	South Indian Bank	54.24	94.99%	4.95%	0.06%	0.31	77.20%
29	Tri O Tech Solutions Private Limited	50.77	100.00%	0.00%	0.00%	0.31	17.47%
30	AU Small Finance Bank	46.74	93.96%	6.01%	0.02%	0.26	90.09%
31	Ujjivan Small Finance Bank Limited	44.18	94.17%	5.60%	0.23%	0.25	20.25%
32	City Union Bank Limited	40.87	93.05%	6.69%	0.26%	0.24	82.70%
33	Punjab & Sind Bank	38.32	92.27%	7.46%	0.27%	0.22	89.99%
34	Tamilnad Mercantile Bank Ltd.	38.20	91.39%	7.44%	1.17%	0.21	97.95%
35	Equitas Small Finance Bank Ltd	32.46	92.00%	7.29%	0.71%	0.21	76.89%
36	HDFC Bank Credit Card HCB	31.15	95.19%	4.66%	0.15%	0.21	23.54%
37	Andhra Pradesh Grameena Vikas Bank	29.53	85.51%	12.21%	2.28%	0.20	99.07%
38	Kerala Gramin Bank	29.43	93.72%	5.54%	0.74%	0.17	90.78%
39	Pragathi Krishna Gramin Bank	26.98	91.24%	6.93%	1.83%	0.17	72.82%
40	DBS Bank India Limited	26.61	94.23%	5.72%	0.05%	0.17	58.21%
41	Rajasthan Marudhara Gramin Bank	25.44	86.22%	11.56%	2.22%	0.17	58.42%
42	Maharashtra Gramin Bank	25.16	86.97%	11.42%	1.61%	0.17	44.72%
43	Standard Chartered Bank	24.97	96.93%	2.90%	0.17%	0.16	90.27%
44	Baroda Uttar Pradesh Gramin Bank	24.09	74.58%	10.00%	15.42%	0.15	88.69%
45	Saraswat Co-operative Bank Ltd.	23.45	94.86%	4.71%	0.43%	0.15	96.25%
46	ESAF Small Finance Bank Ltd.	22.93	95.04%	4.76%	0.20%	0.14	67.14%
47	Fincare Small Finance Bank Limited	20.56	85.12%	14.38%	0.51%	0.13	9.53%
48	Sarva Haryana Gramin Bank	19.34	89.85%	7.83%	2.32%	0.13	96.24%
49	Andhra Pragathi Grameena Bank	18.35	80.76%	12.96%	6.28%	0.13	99.61%
50	Jio Payments Bank limited	16.80	84.80%	11.61%	3.59%	0.11	47.65%

UPI Top 50 Member Beneficiary Performance (June'24)

UPI Beneficiary Members - Top 50 Members (Jun'24)
Sr.No.	UPI Beneficiary Members (Jun-2024)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Yes Bank Ltd.	5523.03	99.98%	0.02%	0.00%	0.00%
2	State Bank Of India	1549.25	99.76%	0.10%	0.14%	0.05%
3	Axis Bank Ltd.	1025.59	99.88%	0.12%	0.00%	0.02%
4	HDFC Bank Ltd.	653.68	98.79%	1.06%	0.15%	0.05%
5	ICICI Bank Ltd.	624.60	99.50%	0.48%	0.02%	0.02%
6	Bank of Baroda	400.13	99.78%	0.08%	0.14%	0.17%
7	Federal Bank	383.40	99.75%	0.23%	0.03%	0.00%
8	Union Bank of India	351.85	99.72%	0.11%	0.17%	0.10%
9	Punjab National Bank	324.58	99.40%	0.27%	0.34%	0.11%
10	Canara Bank	301.47	98.70%	0.94%	0.36%	0.15%
11	Kotak Mahindra Bank Ltd	275.04	99.39%	0.30%	0.31%	0.29%
12	Airtel Payments Bank Ltd	251.18	98.94%	0.34%	0.72%	0.15%
13	Indian Bank	224.43	99.08%	0.73%	0.19%	0.24%
14	Bank of India	202.39	99.03%	0.74%	0.23%	0.19%
15	India Post Payments Bank Ltd	137.69	98.92%	0.28%	0.80%	0.17%
16	IndusInd Bank Ltd.	124.07	99.11%	0.53%	0.37%	0.26%
17	Central Bank Of India	93.75	97.52%	1.46%	1.02%	0.37%
18	Indian Overseas Bank	93.03	98.65%	0.52%	0.82%	0.38%
19	UCO Bank	87.05	99.14%	0.66%	0.20%	0.10%
20	Fino Payments Bank Ltd.	73.74	96.29%	3.29%	0.43%	0.07%
21	IDBI Bank Ltd.	66.26	99.24%	0.36%	0.40%	0.17%
22	Bank of Maharashtra	60.84	98.97%	0.32%	0.71%	0.16%
23	Karnataka Bank Ltd	47.71	98.50%	1.13%	0.37%	0.11%
24	Karur Vysya Bank	36.29	98.24%	1.11%	0.65%	0.07%
25	RBL Bank Ltd.	36.15	98.79%	0.90%	0.31%	0.17%
26	IDFC First Bank Ltd	35.42	98.75%	1.21%	0.04%	0.02%
27	Bandhan Bank Ltd.	35.19	98.64%	0.37%	0.99%	0.01%
28	One Mobikwik Systems Pvt - Ltd	35.03	99.93%	0.02%	0.04%	0.00%
29	South Indian Bank	34.18	98.89%	1.08%	0.03%	0.01%
30	Jammu and Kashmir Bank	33.89	99.05%	0.37%	0.58%	0.28%
31	AU small Finance Bank	26.37	99.00%	0.99%	0.01%	0.01%
32	Tamilnad Mercantile Bank	25.76	98.76%	0.09%	1.15%	0.18%
33	Tri O Tech Solutions Private Ltd.	25.21	96.49%	3.43%	0.09%	0.04%
34	Ujjivan Small Finance Bank	22.07	99.11%	0.74%	0.15%	0.14%
35	City Union Bank	21.49	97.81%	2.04%	0.15%	0.00%
36	Punjab and Sind Bank	16.82	98.79%	0.99%	0.22%	0.03%
37	Kerala Gramin Bank	15.64	98.75%	0.89%	0.36%	0.24%
38	Cosmos Bank	15.14	95.46%	0.07%	4.47%	0.60%
39	Equitas Small Finance Bank Ltd	13.81	97.75%	1.34%	0.91%	0.17%
40	Andhra Pradesh Grameena Vikas Bank	13.60	97.85%	0.52%	1.63%	0.85%
41	Jio Payments Bank	13.28	98.52%	0.39%	1.09%	1.06%
42	Pragathi Krishna Gramin Bank	12.98	98.17%	0.99%	0.83%	0.58%
43	CITI bank	11.72	99.93%	0.00%	0.07%	0.09%
44	Baroda Uttar Pradesh Gramin Bank	11.70	87.69%	0.64%	11.68%	3.82%
45	Maharashtra Gramin Bank	11.60	98.84%	0.18%	0.98%	0.11%
46	Rajasthan Marudhara Gramin Bank	11.14	98.79%	0.46%	0.76%	0.23%
47	ESAF Small Finance Bank Ltd.	10.88	98.50%	1.42%	0.08%	0.03%
48	DBS Bank India Ltd.	10.36	98.41%	1.44%	0.15%	0.02%
49	Fincare Small Finance Bank Ltd	9.22	95.48%	4.17%	0.35%	0.08%
50	Andhra Pragathi Grameena Bank	9.05	95.03%	1.16%	3.81%	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.
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'24)

UPI Apps (Jun'24)
Sr.No.	Application Name	Customer Initiated Transactions		B2C Transactions		B2B Transactions		Total
Sr.No.	Application Name	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)	Volume (Mn)	Value (Cr)
1	PhonePe #	6,716.09	10,09,064.99	0.00	0.00	0.00	0.00	6,716.09	10,09,064.99
2	Google Pay #	5,103.99	7,07,241.27	0.00	0.00	0.00	0.00	5,103.99	7,07,241.27
3	Paytm	1,104.89	1,20,840.45	0.00	0.00	0.00	0.00	1,104.89	1,20,840.45
4	Cred #	138.42	45,720.01	0.00	0.00	0.00	0.00	138.42	45,720.01
5	Axis Bank Apps	14.14	3,852.77	60.92	2,755.96	0.01	5.30	75.07	6,614.04
6	Amazon Pay #	67.07	7,377.30	0.00	0.00	0.00	0.00	67.07	7,377.30
7	ICICI Bank Apps	38.25	16,692.52	4.20	462.22	9.20	12,841.44	51.65	29,996.18
8	FamApp by Trio #	50.78	641.36	0.00	0.00	0.00	0.00	50.78	641.36
9	Kotak Mahindra Bank Apps	42.65	6,073.08	0.00	0.00	0.00	0.00	42.65	6,073.08
10	WhatsApp #	37.18	2,923.79	0.00	0.00	0.00	0.00	37.18	2,923.79
11	Navi #	35.72	1,769.66	0.00	0.00	0.00	0.00	35.72	1,769.66
12	HDFC Bank Apps	34.57	8,166.94	0.03	0.08	0.00	0.27	34.60	8,167.30
13	BHIM	22.72	7,965.69	0.00	0.00	0.00	0.00	22.72	7,965.69
14	Yes Bank Apps	22.28	9,285.69	0.00	0.00	0.27	31.36	22.55	9,317.05
15	Airtel Payments Bank Apps	15.76	1,191.68	0.00	0.00	0.00	0.39	15.76	1,192.07
16	Mobikwik #	11.59	2,564.79	0.00	0.00	0.00	0.00	11.59	2,564.79
17	Groww #	11.26	9,094.72	0.00	0.00	0.00	0.00	11.26	9,094.72
18	Bajaj Finserv #	8.23	1,852.43	0.00	0.00	0.00	0.00	8.23	1,852.43
19	Slice #	7.86	634.47	0.00	0.00	0.00	0.00	7.86	634.47
20	IDFC Bank Apps	7.33	1,654.91	0.00	0.00	0.00	0.00	7.33	1,654.91
21	State Bank of India Apps	7.22	2,426.08	0.00	0.00	0.00	0.00	7.22	2,426.08
22	Samsung Pay #	6.38	542.12	0.00	0.00	0.00	0.00	6.38	542.12
23	India Post Payments Bank Apps	6.01	732.10	0.00	0.00	0.00	0.00	6.01	732.10
24	Flipkart UPI #	5.97	337.24	0.00	0.00	0.00	0.00	5.97	337.24
25	Federal Bank Apps	5.67	790.57	0.00	0.00	0.00	0.00	5.67	790.57
26	Jupiter Money #	5.63	750.68	0.00	0.00	0.00	0.00	5.63	750.68
27	Canara Bank Apps	2.88	793.85	0.00	0.00	0.00	0.00	2.88	793.85
28	Jio Payments Bank Apps	2.33	186.62	0.00	0.00	0.00	0.00	2.33	186.62
29	Deutsche Bank Apps	2.25	334.10	0.00	0.00	0.00	0.03	2.25	334.12
30	Timepay #	1.82	20.11	0.00	0.00	0.00	0.09	1.82	20.20
31	Punjab National Bank Apps	1.80	472.48	0.00	0.00	0.00	0.00	1.80	472.48
32	RBL Bank Apps	1.66	733.04	0.00	0.01	0.09	52.02	1.75	785.07
33	Indian Bank Apps	1.73	330.29	0.00	0.00	0.00	0.18	1.73	330.47
34	OmniCard #	1.28	53.41	0.00	0.00	0.00	0.00	1.28	53.41
35	Union Bank Apps	1.06	461.02	0.00	0.00	0.00	0.00	1.06	461.02
36	Bank of Baroda Apps	1.03	450.62	0.00	0.00	0.00	0.00	1.03	450.62
37	Central Bank of India Apps	0.83	188.63	0.00	0.00	0.00	0.00	0.83	188.63
38	AU Small Finance Bank Apps	0.76	227.63	0.00	0.00	0.00	0.00	0.76	227.63
39	Jammu and Kashmir Bank Apps	0.75	97.58	0.00	0.00	0.00	0.00	0.75	97.58
40	DBS Digibank Apps	0.49	198.19	0.00	0.00	0.00	0.49	0.50	198.68
41	South Indian Bank Apps	0.49	144.78	0.00	0.00	0.00	0.00	0.49	144.78
42	IndusInd Bank Apps	0.42	115.96	0.00	0.00	0.01	1.90	0.43	117.86
43	Fino Payments bank Apps	0.41	55.79	0.00	0.00	0.00	0.00	0.41	55.79
44	HSBC Bank Apps	0.40	148.04	0.00	0.05	0.00	0.00	0.40	148.09
45	Shriram One #	0.28	37.04	0.00	0.00	0.00	0.00	0.28	37.04
46	UCO Bank Apps	0.22	67.40	0.00	0.00	0.00	0.00	0.22	67.40
47	Digikhata #	0.19	63.31	0.00	0.00	0.00	0.00	0.19	63.31
48	Karnataka Bank Apps	0.18	33.54	0.00	0.00	0.00	0.00	0.18	33.55
49	Standard Chartered Bank Apps	0.17	117.31	0.00	0.00	0.00	0.05	0.17	117.35
50	TataNeu #	0.16	23.31	0.00	0.00	0.00	0.00	0.16	23.31
51	Kiwi #	0.15	31.43	0.00	0.00	0.00	0.00	0.15	31.43
52	Suryoday	0.14	0.02	0.00	0.00	0.00	0.00	0.14	0.02
53	Indian Overseas Bank Apps	0.13	37.62	0.00	0.00	0.00	0.00	0.13	37.62
54	super.money #	0.13	5.04	0.00	0.00	0.00	0.00	0.13	5.04
55	Dhani	0.11	13.84	0.00	0.00	0.00	0.00	0.11	13.84
56	Bank of India Apps	0.10	38.05	0.00	0.00	0.00	0.00	0.10	38.05
57	Ultracash #	0.09	6.51	0.00	0.00	0.00	0.00	0.09	6.51
58	Tamilnad Mercantile Bank Apps	0.08	26.21	0.00	0.00	0.00	0.00	0.08	26.21
59	City Union Bank Apps	0.08	28.66	0.00	0.00	0.00	0.00	0.08	28.66
60	POPClub #	0.07	4.87	0.00	0.00	0.00	0.00	0.07	4.87
61	Citi Bank Apps	0.06	70.21	0.00	0.00	0.00	0.30	0.07	70.51
62	Aditya Birla Capital Digital #	0.07	3.45	0.00	0.00	0.00	0.00	0.07	3.45
63	IDBI Bank Apps	0.07	27.06	0.00	0.00	0.00	0.00	0.07	27.06
64	NSDL Payments Bank Apps	0.06	10.09	0.00	0.00	0.00	0.00	0.06	10.09
65	Bank of Maharashtra Apps	0.05	11.11	0.00	0.00	0.00	0.00	0.05	11.11
66	Karur Vysya Bank Apps	0.05	18.73	0.00	0.00	0.00	0.00	0.05	18.73
67	Niyo Global #	0.05	24.78	0.00	0.00	0.00	0.00	0.05	24.78
68	Equitas Small Finance Bank Apps	0.04	26.25	0.00	0.00	0.00	0.00	0.04	26.25
69	Punjab Sind Bank Apps	0.03	12.38	0.00	0.00	0.00	0.00	0.03	12.38
70	Other Apps	1.41	180.43	0.00	0.00	0.13	3.67	1.54	184.11

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 20,000 is included under ‘Other Apps’.
BHIM Volume is inclusive of *99# volume.
WhatsApp*: Maximum registered user base of hundred (100) million in UPI
3rd Party Apps (TPAP) Volume Market Share statistics excludes the cross-border transactions and new/recent features
On Us transactions of Airtel Payments Bank Apps have been incoroprated in B2B Payments
# Denotes 3rd Party Apps (TPAP)

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’24	13,885.14	20,07,081.16	5,164.39	14,47,142.17	8,720.75	5,59,938.98

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 (June'24)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes bank Ltd.	5,109.48	92.73%	7.12%	0.15%
2	AXIS Bank Ltd.	4,019.53	94.17%	5.67%	0.16%
3	ICICI Bank Ltd.	2,681.98	93.75%	6.09%	0.16%
4	State Bank of India	1,473.39	95.76%	4.09%	0.16%
5	HDFC Bank Ltd.	1,303.26	95.19%	4.69%	0.12%
6	Tri O Tech Solutions Private Limited	50.77	100.00%	0.00%	0.00%
7	Kotak Mahindra Bank Ltd	42.91	100.00%	0.00%	0.00%
8	BHIM	27.47	93.42%	6.37%	0.21%
9	Airtel Payments Bank Ltd	16.38	96.18%	3.74%	0.08%
10	RBL Bank Ltd.	8.11	95.44%	4.40%	0.16%
11	IDFC First Bank	7.78	99.41%	0.59%	0.01%
12	India Post Payments Bank Ltd	6.01	99.98%	0.02%	0.00%
13	Federal Bank Ltd.	5.80	97.94%	2.04%	0.02%
14	One Mobikwik Systems Pvt - Ltd	3.62	100.00%	0.00%	0.00%
15	Garagepreneurs Internet Private Limited	3.64	100.00%	0.00%	0.00%

UPI Payee PSP Performance

UPI Payee PSP Performance (June'24)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes bank Ltd.	7,968.92	93.44%	6.41%	0.15%
2	AXIS Bank Ltd.	2,412.86	94.54%	5.29%	0.17%
3	ICICI Bank Ltd.	1,497.20	93.83%	6.02%	0.15%
4	State bank Of India	840.24	94.54%	5.31%	0.15%
5	HDFC Bank Ltd.	766.45	94.65%	5.23%	0.13%
6	Federal Bank Ltd.	319.03	96.91%	2.95%	0.14%
7	Cosmos Bank	81.64	90.00%	9.83%	0.17%
8	Indusind Bank Ltd.	71.72	94.25%	5.62%	0.13%
9	Airtel Payments Bank Ltd	64.33	94.82%	5.05%	0.13%
10	RBL Bank Ltd.	51.96	93.72%	6.01%	0.27%
11	Canara Bank	45.37	96.48%	3.39%	0.13%
12	Kotak Mahindra Bank Ltd	40.95	95.35%	4.48%	0.17%
13	One Mobikwik Systems Pvt - Ltd	36.26	96.49%	3.39%	0.12%
14	Indian Bank	29.60	93.07%	6.76%	0.17%
15	Fino Payments Bank Ltd.	28.43	90.38%	9.46%	0.17%

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 24

UPI Merchant Category-wise Classification - Jun'24
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5814	Fast food restaurants
	5812	Eating places and restaurants
	4814	Telecommunication services, including local and long distance calls, credit card cal
	5541	Service stations (with or without ancillary services)
	5816	Digital Goods: Games
	5912	Drug stores and pharmacies
	5462	Bakeries
	5311	Department stores
	4900	Utilities electric, gas, water and sanitary
Medium Transacting Categories	5451	Dairies
	7322	Debt collection agencies
	5813	Drinking places (alcoholic beverages) bars, taverns, night-clubs, cocktail lounges
	5441	Candy, nut and confectionery shops
	5422	Freezer and locker meat provisioners
	5921	Package shops beer, wine and liquor
	7622	Electronics repair shops
	5993	Cigar shops and stands
	6211	Securities brokers and dealers
	5262	Online Marketplaces
All Other Categories	5137	Mens, womens and childrens uniforms and commercial clothing
	5732	Electronics shops
	7230	Beauty and barber shops
	4112	Passenger railways
	9399	Government services not elsewhere classified
	5331	Variety stores
	4121	Passenger railways
	6012	Financial institutions merchandise and services
	5691	Mens and womens clothing shops
	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 Member Remitter Performance (May'24)

UPI Remitter Banks - Top 50 Banks (May'24)
Sr. No.	UPI Remitter Banks (May-2024)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank Of India	3758.35	94.80%	5.01%	0.20%	13.29	98.55%
2	HDFC Bank Ltd	1211.41	95.75%	4.19%	0.06%	3.69	98.50%
3	Bank of Baroda	930.35	92.49%	6.56%	0.95%	4.50	84.38%
4	Union Bank of India	876.18	94.38%	5.38%	0.24%	3.38	78.77%
5	Punjab National Bank	785.36	93.64%	6.05%	0.31%	3.19	87.42%
6	Kotak Mahindra Bank	746.83	92.83%	6.78%	0.39%	3.56	63.74%
7	Canara Bank	670.33	92.87%	6.15%	0.98%	5.16	72.09%
8	ICICI Bank	627.63	96.33%	3.62%	0.05%	1.65	95.22%
9	Axis Bank Ltd.	627.47	95.60%	4.39%	0.02%	1.77	95.16%
10	Bank of India	454.54	93.16%	5.16%	1.68%	2.77	61.76%
11	Indian Bank	427.45	94.11%	5.65%	0.24%	1.53	83.49%
12	Airtel Payments Bank	413.75	91.27%	8.20%	0.52%	1.75	96.34%
13	India Post Payment Bank	317.28	86.84%	12.47%	0.70%	1.34	82.16%
14	Federal Bank	212.71	94.09%	5.44%	0.47%	0.75	89.02%
15	Central Bank Of India	206.31	87.26%	11.16%	1.57%	1.59	69.46%
16	Indian Overseas Bank	197.96	94.32%	5.24%	0.44%	0.75	88.54%
17	UCO Bank	184.22	93.72%	6.16%	0.11%	0.72	87.45%
18	IDBI Bank Limited	159.28	94.40%	5.46%	0.14%	0.55	90.23%
19	Bank of Maharashtra	152.68	92.45%	5.48%	2.06%	1.14	57.34%
20	Indusind Bank	150.37	92.32%	7.38%	0.31%	0.96	97.88%
21	Fino Payments Bank Limited	140.12	92.59%	7.19%	0.22%	0.66	75.30%
22	Yes Bank Ltd	121.13	94.05%	5.90%	0.05%	0.30	89.05%
23	Karnataka Bank	110.31	93.24%	6.47%	0.29%	0.41	84.19%
24	IDFC First Bank	87.12	92.89%	7.06%	0.04%	0.27	93.96%
25	Karur Vysya Bank	68.36	93.97%	5.85%	0.18%	0.21	93.36%
26	Jammu and Kashmir Bank	66.17	93.91%	4.48%	1.60%	0.64	32.81%
27	Bandhan Bank	59.24	91.70%	6.70%	1.60%	0.27	96.55%
28	South Indian Bank	54.78	95.49%	4.41%	0.10%	0.14	90.82%
29	Tri O Tech Solutions Private Limited	50.10	100.00%	0.00%	0.00%	0.00	0.00%
30	AU small Finance Bank	47.67	93.42%	5.75%	0.83%	0.25	76.77%
31	Ujjivan Small Finance Bank	45.10	93.75%	5.64%	0.61%	0.22	70.45%
32	City Union Bank	41.63	92.90%	6.73%	0.37%	0.14	99.12%
33	Punjab and Sind Bank	38.16	92.76%	6.89%	0.36%	0.19	82.65%
34	Tamilnad Mercantile Bank	38.01	92.38%	7.19%	0.44%	0.12	79.30%
35	Equitas Small Finance Bank	33.53	92.55%	7.18%	0.27%	0.15	85.61%
36	Andhra Pradesh Grameena Vikas Bank	29.80	85.93%	12.05%	2.02%	0.19	69.54%
37	Kerala Gramin Bank	29.05	92.97%	5.66%	1.37%	0.16	62.06%
38	Pragathi Krishna Gramin Bank	27.76	89.64%	7.36%	3.00%	0.40	55.43%
39	DBS Bank India Limited	27.40	94.26%	5.59%	0.16%	0.09	72.20%
40	Maharashtra Gramin Bank	26.27	86.04%	11.57%	2.39%	0.12	57.65%
41	Rajasthan Marudhara Gramin Bank	25.55	86.55%	11.29%	2.16%	0.23	36.91%
42	Standard Chartered	25.23	96.94%	2.87%	0.18%	0.07	88.23%
43	Saraswat Bank	23.75	95.17%	4.19%	0.64%	0.09	71.49%
44	Baroda UP Gramin Bank	23.63	78.17%	9.63%	12.20%	0.73	18.03%
45	ESAF Small Finance Bank Ltd.	22.91	95.23%	4.54%	0.23%	0.07	98.57%
46	Fincare Small Finance Bank Ltd	21.54	85.62%	13.92%	0.46%	0.10	86.35%
47	Sarva Haryana Gramin Bank	20.85	86.11%	12.06%	1.83%	0.20	39.45%
48	Citi Bank	20.03	96.49%	3.14%	0.37%	0.07	99.11%
49	Andhra Pragathi Grameena Bank	18.23	83.62%	13.00%	3.38%	0.28	22.98%
50	RBL Bank Limited	16.38	89.18%	9.91%	0.92%	0.09	54.47%

UPI Top 50 Member Beneficiary Performance (May'24)

UPI Beneficiary Banks - Top 50 Banks (May'24)
Sr.No.	UPI Beneficiary Banks (May-2024)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Yes Bank Ltd	5597.32	99.96%	0.02%	0.02%	0.00%
2	State Bank of India	1589.47	99.76%	0.10%	0.15%	0.05%
3	Axis Bank Ltd	1290.76	99.88%	0.11%	0.00%	0.01%
4	HDFC Bank Ltd	652.69	98.85%	1.10%	0.06%	0.03%
5	ICICI Bank	633.50	99.61%	0.37%	0.02%	0.02%
6	Bank of Baroda	400.48	99.31%	0.25%	0.45%	0.14%
7	Federal Bank	391.25	99.36%	0.24%	0.41%	0.07%
8	Union Bank Of India	356.69	99.46%	0.11%	0.43%	0.04%
9	Punjab national Bank	326.47	99.36%	0.29%	0.36%	0.17%
10	Canara Bank	305.13	97.98%	1.15%	0.87%	0.36%
11	Kotak Mahindra Bank	285.74	99.27%	0.44%	0.29%	0.11%
12	Airtel Payments Bank	264.42	99.41%	0.25%	0.35%	0.09%
13	Indian Bank	230.91	98.47%	1.32%	0.22%	0.21%
14	Bank Of India	203.54	98.08%	0.82%	1.10%	0.40%
15	India Post Payment Bank	136.48	99.39%	0.28%	0.33%	0.06%
16	Indusind Bank	127.61	99.32%	0.49%	0.19%	0.04%
17	Central Bank of India	94.86	98.67%	0.57%	0.77%	0.20%
18	Indian Overseas Bank	93.82	98.87%	0.89%	0.24%	0.12%
19	UCO Bank	87.25	99.23%	0.71%	0.05%	0.03%
20	Fino Payments Bank Limited	72.06	96.62%	3.19%	0.19%	0.04%
21	IDBI Bank Limited	67.45	99.62%	0.31%	0.07%	0.01%
22	Bank of Maharashtra	62.25	97.48%	0.18%	2.34%	0.42%
23	Karnataka Bank	48.13	98.31%	1.40%	0.30%	0.04%
24	RBL Bank LTD	45.73	98.38%	1.39%	0.23%	0.12%
25	IDFC First Bank	36.08	98.76%	1.17%	0.07%	0.01%
26	Karur Vysya Bank	35.56	98.62%	1.22%	0.16%	0.04%
27	Bandhan Bank	35.28	97.94%	0.41%	1.65%	0.06%
28	South Indian Bank	34.01	98.76%	1.15%	0.09%	0.02%
29	Jammu and Kashmir Bank	32.79	99.20%	0.45%	0.35%	0.35%
30	ONE MOBIKWIK SYSTEMS LIMITED	31.71	99.96%	0.02%	0.03%	0.00%
31	AU small Finance Bank	27.89	97.90%	1.53%	0.57%	0.12%
32	Tamilnad Mercantile Bank	25.26	99.55%	0.09%	0.36%	0.04%
33	Tri O Tech Solutions Private Limited	24.56	96.07%	3.80%	0.13%	0.03%
34	Ujjivan Small Finance Bank	22.36	98.74%	0.89%	0.37%	0.25%
35	City Union Bank	21.65	97.73%	2.00%	0.27%	0.00%
36	Punjab and Sind Bank	16.69	98.68%	1.02%	0.30%	0.10%
37	Kerala Gramin Bank	15.56	98.12%	0.97%	0.91%	0.40%
38	Equitas Small Finance Bank	14.39	98.49%	1.32%	0.19%	0.06%
39	Andhra Pradesh Grameena Vikas Bank	13.89	98.87%	0.45%	0.67%	0.15%
40	Jio Payments Bank	13.39	99.05%	0.50%	0.46%	0.18%
41	Pragathi Krishna Gramin Bank	13.28	97.27%	1.18%	1.56%	0.94%
42	Maharashtra Gramin Bank	12.25	97.65%	0.35%	2.01%	0.39%
43	CITI Bank	12.10	99.79%	0.00%	0.21%	0.30%
44	Rajasthan Marudhara Gramin Bank	12.01	97.70%	0.42%	1.88%	0.42%
45	Baroda Uttar Pradesh Gramin Bank	11.53	90.43%	0.62%	8.96%	2.70%
46	The Cosmos Co-Operative Bank Ltd	11.39	97.72%	0.09%	2.20%	0.58%
47	DBS Bank India Limited	11.22	97.51%	1.57%	0.92%	0.06%
48	ESAF Small Finance Bank Ltd.	11.10	99.73%	0.19%	0.08%	0.02%
49	Fincare Small Finance Bank Ltd	10.07	96.43%	3.15%	0.41%	0.06%
50	Andhra Pragathi Grameena Bank	9.22	97.03%	0.88%	2.10%	0.37%

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'24)

UPI Apps (May'24)
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	6,831.92	10,33,588.80	0.00	0.00	0.00	0.00	0.00	0.00	6,831.92	10,33,588.80
2	Google Pay	5,219.56	7,23,315.70	0.00	0.00	0.00	0.00	0.00	0.00	5,219.56	7,23,315.70
3	Paytm (OCL)	1,140.01	1,24,704.79	0.00	0.00	0.00	0.00	0.00	0.00	1,140.01	1,24,704.80
4	Cred	140.08	47,547.15	0.00	0.00	0.00	0.00	0.00	0.00	140.08	47,547.15
5	Amazon Pay	68.34	7,419.41	0.00	0.00	0.00	0.00	0.00	0.00	68.34	7,419.41
6	Axis Bank Apps	14.15	3,722.58	49.93	2,184.74	0.01	2.89	0.00	0.00	64.08	5,910.20
7	ICICI Bank Apps	38.50	15,332.69	4.22	449.37	9.37	12,661.97	0.00	0.00	52.10	28,444.03
8	FamApp by Trio	50.10	630.89	0.00	0.00	0.00	0.00	0.00	0.00	50.10	630.89
9	Kotak Mahindra Bank Apps	43.41	6,178.23	0.00	0.00	0.00	0.00	0.00	0.00	43.41	6,178.23
10	WhatsApp	36.45	2,938.72	0.00	0.00	0.00	0.00	0.00	0.00	36.45	2,938.72
11	HDFC Bank Apps	35.40	8,104.06	0.02	0.06	0.01	0.32	0.00	0.00	35.43	8,104.44
12	Navi	29.72	958.09	0.00	0.00	0.00	0.00	0.00	0.00	29.72	958.09
13	BHIM	23.43	8,095.99	0.00	0.00	0.00	0.00	0.00	0.00	23.43	8,095.99
14	Yes Bank Apps	22.48	10,939.53	0.00	0.00	0.26	32.11	0.00	0.00	22.75	10,971.64
15	Airtel Payments Bank Apps	17.29	1,329.67	0.00	0.00	0.00	0.48	0.00	0.05	17.29	1,330.15
16	Mobikwik	11.12	2,536.09	0.00	0.00	0.00	0.00	0.00	0.00	11.12	2,536.09
17	Groww	10.15	7,086.12	0.00	0.00	0.00	0.00	0.00	0.00	10.15	7,086.12
18	Bajaj Finserv	9.55	1,685.51	0.00	0.00	0.00	0.00	0.00	0.00	9.55	1,685.51
19	Slice	9.05	646.12	0.00	0.00	0.00	0.00	0.00	0.00	9.05	646.12
20	State Bank of India Apps	7.12	2,494.20	0.00	0.00	0.00	0.00	0.00	0.00	7.12	2,494.20
21	IDFC Bank Apps	6.99	1,690.27	0.00	0.00	0.00	0.00	0.00	0.00	6.99	1,690.27
22	Samsung Pay	6.56	547.28	0.00	0.00	0.00	0.00	0.00	0.00	6.56	547.28
23	Jupiter	6.07	769.10	0.00	0.00	0.00	0.00	0.00	0.00	6.07	769.10
24	Federal Bank Apps	5.95	811.83	0.00	0.00	0.00	0.00	0.00	0.00	5.95	811.83
25	India Post Payments Bank Apps	5.67	703.81	0.00	0.00	0.00	0.00	0.00	0.00	5.67	703.81
26	Flipkart	4.44	251.85	0.00	0.00	0.00	0.00	0.00	0.00	4.44	251.85
27	Canara Bank Apps	3.06	828.58	0.00	0.00	0.00	0.00	0.00	0.00	3.06	828.58
28	Deutsche Bank Apps	2.34	369.39	0.00	0.00	0.00	0.03	0.00	0.00	2.34	369.42
29	RBL Bank Apps	2.20	900.13	0.00	0.00	0.05	31.21	0.00	0.00	2.24	931.34
30	Jio Payments Bank Apps	2.02	170.98	0.00	0.00	0.00	0.00	0.00	0.00	2.02	170.98
31	Punjab National Bank Apps	1.74	444.50	0.00	0.00	0.00	0.00	0.00	0.00	1.74	444.50
32	Timepay	1.61	17.59	0.00	0.00	0.00	0.10	0.00	0.00	1.61	17.69
33	Indian Bank Apps	1.54	319.53	0.00	0.00	0.00	10.05	0.00	0.00	1.55	329.58
34	OmniCard	1.24	45.65	0.00	0.00	0.00	0.00	0.00	0.00	1.24	45.65
35	Union Bank Apps	1.19	505.23	0.00	0.00	0.00	0.00	0.00	0.00	1.19	505.24
36	Bank of Baroda Apps	1.02	456.55	0.00	0.00	0.00	7.31	0.00	0.00	1.02	463.85
37	Central Bank of India Apps	0.95	213.29	0.00	0.00	0.00	0.00	0.00	0.00	0.95	213.29
38	AU Small Finance Bank Apps	0.82	249.60	0.00	0.00	0.00	0.00	0.00	0.00	0.82	249.60
39	DBS Digibank Apps	0.48	192.60	0.00	0.00	0.00	0.49	0.00	0.00	0.48	193.09
40	South Indian Bank Apps	0.47	141.47	0.00	0.00	0.00	0.00	0.00	0.00	0.47	141.47
41	Jammu and Kashmir Bank Apps	0.43	64.02	0.00	0.00	0.00	0.00	0.00	0.00	0.43	64.02
42	Fino Payments bank Apps	0.38	53.86	0.00	0.00	0.00	0.00	0.00	0.00	0.38	53.86
43	HSBC Bank Apps	0.37	144.05	0.00	0.05	0.00	0.00	0.00	0.00	0.37	144.11
44	IndusInd Bank Apps	0.35	73.84	0.00	0.00	0.00	0.58	0.00	0.00	0.36	74.41
45	Shriram One	0.29	36.28	0.00	0.00	0.00	0.00	0.00	0.00	0.29	36.28
46	Bank of India Apps	0.21	81.09	0.00	0.00	0.00	0.00	0.00	0.00	0.21	81.09
47	UCO Bank Apps	0.20	65.61	0.00	0.00	0.00	0.00	0.00	0.00	0.20	65.61
48	Kiwi	0.18	36.03	0.00	0.00	0.00	0.00	0.00	0.00	0.18	36.03
49	TataNeu	0.18	25.10	0.00	0.00	0.00	0.00	0.00	0.00	0.18	25.10
50	Standard Chartered Bank Apps	0.16	114.40	0.00	0.00	0.00	0.02	0.00	0.00	0.16	114.42
51	Digikhata	0.16	52.29	0.00	0.00	0.00	0.00	0.00	0.00	0.16	52.29
52	Karnataka Bank Apps	0.16	30.00	0.00	0.00	0.00	0.00	0.00	0.00	0.16	30.00
53	Indian Overseas Bank Apps	0.12	34.43	0.00	0.00	0.00	0.00	0.00	0.00	0.12	34.43
54	Dhani	0.11	13.12	0.00	0.00	0.00	0.00	0.00	0.00	0.11	13.12
55	Ultracash	0.09	6.19	0.00	0.00	0.00	0.00	0.00	0.00	0.09	6.19
56	Tamilnad Mercantile Bank Apps	0.08	25.66	0.00	0.00	0.00	0.00	0.00	0.00	0.08	25.66
57	Citi Bank Apps	0.08	66.69	0.00	0.00	0.00	0.05	0.00	0.00	0.08	66.74
58	City Union Bank Apps	0.08	28.77	0.00	0.00	0.00	0.00	0.00	0.00	0.08	28.77
59	NSDL Payments Bank Apps	0.07	12.71	0.00	0.00	0.00	0.00	0.00	0.00	0.07	12.71
60	IDBI Bank Apps	0.07	27.32	0.00	0.00	0.00	0.00	0.00	0.00	0.07	27.32
61	Aditya Birla Capital Digital	0.05	1.84	0.00	0.00	0.00	0.00	0.00	0.00	0.05	1.84
62	Karur Vysya Bank Apps	0.05	20.63	0.00	0.00	0.00	0.00	0.00	0.00	0.05	20.63
63	Bank of Maharashtra Apps	0.05	10.37	0.00	0.00	0.00	0.12	0.00	0.00	0.05	10.49
64	Niyo Global	0.04	22.56	0.00	0.00	0.00	0.00	0.00	0.00	0.04	22.56
65	MakeMyTrip	0.04	18.12	0.00	0.00	0.00	0.00	0.00	0.00	0.04	18.12
66	Equitas Small Finance Bank Apps	0.04	25.35	0.00	0.00	0.00	0.00	0.00	0.00	0.04	25.35
67	Punjab Sind Bank Apps	0.03	12.97	0.00	0.00	0.00	0.00	0.00	0.00	0.03	12.97
68	Other Apps	1.15	145.19	0.00	0.00	0.14	3.74	0.00	0.00	1.29	148.93

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
TPAP Volume Market Share statistics excludes the cross-border transactions.

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’24	14,035.84	20,44,937.05	5,231.01	14,88,235.39	8,804.83	5,56,701.66

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'24)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	YES BANK LTD	5,297.04	92.93%	6.98%	0.09%
2	AXIS BANK LTD	4,029.90	94.30%	5.60%	0.10%
3	ICICI BANK	2,756.94	93.97%	5.93%	0.10%
4	STATE BANK OF INDIA	1,360.48	95.85%	4.09%	0.06%
5	HDFC BANK LTD	1,280.26	95.39%	4.53%	0.08%
6	TRI O TECH SOLUTIONS PRIVATE LIMITED	50.10	100.00%	0.00%	0.00%
7	KOTAK MAHINDRA BANK	43.65	100.00%	0.00%	0.00%
8	BHIM	27.76	93.44%	6.42%	0.14%
9	AIRTEL PAYMENTS BANK	17.95	96.34%	3.62%	0.04%
10	RBL BANK	7.99	95.79%	4.13%	0.08%
11	IDBI BANK LTD	7.49	99.21%	0.78%	0.01%
12	FEDERAL BANK	6.09	97.89%	2.09%	0.02%
13	INDIA POST PAYMENT BANK	5.68	99.97%	0.03%	0.00%
14	GARAGEPRENEURS INTERNET PRIVATE LIMITED	4.86	100.00%	0.00%	0.00%
15	CANARA BANK	3.49	95.50%	4.13%	0.37%

UPI Payee PSP Performance

UPI Payee PSP Performance (May'24)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	YES BANK LTD	8,057.45	93.67%	6.24%	0.09%
2	AXIS BANK LTD	2,436.30	94.55%	5.35%	0.10%
3	ICICI BANK	1,521.86	93.86%	6.05%	0.09%
4	STATE BANK OF INDIA	867.88	94.46%	5.46%	0.08%
5	HDFC BANK LTD	754.96	95.00%	4.93%	0.08%
6	FEDERAL BANK	322.26	96.99%	2.94%	0.08%
7	AIRTEL PAYMENTS BANK	72.58	94.87%	5.05%	0.08%
8	COSMOS BANK	71.19	90.83%	9.03%	0.14%
9	INDUSIND BANK	68.86	94.65%	5.27%	0.08%
10	RBL BANK	58.44	93.59%	6.22%	0.20%
11	KOTAK MAHINDRA BANK	44.14	95.29%	4.61%	0.11%
12	CANARA BANK	43.17	96.54%	3.39%	0.07%
13	INDIAN BANK	40.65	91.95%	7.90%	0.15%
14	ONE MOBIKWIK SYSTEMS LIMITED	32.82	96.55%	3.36%	0.08%
15	FINO PAYMENTS BANK LIMITED	26.47	91.26%	8.62%	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 - May 24

UPI Merchant Category-wise Classification - May'24
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5814	Fast food restaurants
	5812	Eating places and restaurants
	4814	Telecommunication services, including local and long distance calls, credit card cal
	5541	Service stations (with or without ancillary services)
	5816	Digital Goods: Games
	5462	Bakeries
	5912	Drug stores and pharmacies
	5311	Department stores
	4900	Utilities electric, gas, water and sanitary
Medium Transacting Categories	5451	Dairies
	7322	Debt collection agencies
	5813	Drinking places (alcoholic beverages) bars, taverns, night-clubs, cocktail lounges
	5441	Candy, nut and confectionery shops
	5422	Freezer and locker meat provisioners
	7622	Electronics repair shops
	4812	Telecommunication equipment and telephone sales
	5921	Package shops beer, wine and liquor
	4899	Cable and other pay television services
	5993	Cigar shops and stands
All Other Categories	5262	Online Marketplaces
	5732	Electronics shops
	5137	Mens, womens and childrens uniforms and commercial clothing
	6211	Securities brokers and dealers
	7230	Beauty and barber shops
	9399	Government services not elsewhere classified
	4112	Passenger railways
	5331	Variety stores
	6012	Financial institutions merchandise and 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 Member Remitter Performance (Apr'24)

UPI Remitter Banks - Top 50 Banks (Apr'24)
Sr. No.	UPI Remitter Banks (Apr-2024)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank Of India	3581.27	94.10%	5.01%	0.89%	19.18	93.66%
2	HDFC BANK LTD	1157.04	95.82%	4.08%	0.09%	4.42	98.73%
3	Bank of Baroda	898.17	90.39%	8.02%	1.59%	8.48	81.39%
4	Union Bank of India	837.24	93.13%	5.28%	1.59%	7.04	45.38%
5	Punjab National Bank	741.90	92.96%	5.93%	1.11%	4.1	83.01%
6	Kotak Mahindra Bank	725.32	91.77%	6.45%	1.78%	7.04	44.42%
7	Canara Bank	642.10	93.39%	5.95%	0.66%	4.15	72.05%
8	Axis Bank Ltd.	609.02	95.74%	4.23%	0.03%	2.1	96.79%
9	ICICI Bank	599.22	96.37%	3.55%	0.08%	2.19	91.25%
10	Bank of India	439.70	93.67%	5.02%	1.31%	2.61	70.73%
11	Indian Bank	407.28	93.97%	5.88%	0.15%	1.67	93.94%
12	Airtel Payments Bank	395.64	90.62%	8.66%	0.72%	2.03	95.18%
13	India Post Payment Bank	270.23	82.88%	15.95%	1.16%	1.90	54.96%
14	Federal Bank	206.55	94.70%	5.26%	0.04%	0.71	99.58%
15	Central Bank Of India	200.60	85.38%	10.79%	3.83%	3.30	45.28%
16	Indian Overseas Bank	187.73	93.24%	5.02%	1.74%	1.25	89.65%
17	UCO Bank	171.92	93.70%	6.14%	0.16%	1.10	80.12%
18	Bank of Maharashtra	151.41	93.14%	5.47%	1.39%	0.97	71.96%
19	IDBI Bank Limited	151.25	94.24%	5.24%	0.51%	1.38	46.04%
20	INDUSIND BANK	150.57	92.05%	7.07%	0.89%	1.03	93.86%
21	Fino Payments Bank Limited	134.12	90.89%	8.59%	0.51%	0.78	75.50%
22	Yes Bank Ltd	106.01	92.93%	6.53%	0.53%	0.41	76.06%
23	Karnataka Bank	105.44	92.61%	6.33%	1.05%	0.62	74.86%
24	IDFC FIRST Bank	83.34	92.89%	6.98%	0.13%	0.00	0.00%
25	Karur Vysya Bank	65.73	93.97%	5.82%	0.22%	0.29	83.65%
26	Jammu and Kashmir Bank	58.65	94.07%	4.77%	1.16%	0.50	40.95%
27	Bandhan Bank	55.96	92.46%	5.73%	1.81%	0.32	96.90%
28	South Indian Bank	52.51	95.40%	4.47%	0.12%	0.16	94.38%
29	Tri O Tech Solutions Private Limited	46.64	100.00%	0.00%	0.00%	0.00	0.00%
30	AU small Finance Bank	45.86	92.76%	6.19%	1.05%	0.30	83.29%
31	Ujjivan Small Finance Bank	42.92	94.15%	5.62%	0.24%	0.20	96.40%
32	City Union Bank	39.67	92.80%	6.91%	0.29%	0.14	95.58%
33	Tamilnad Mercantile Bank	36.11	91.84%	7.57%	0.59%	0.13	87.60%
34	Punjab and Sind Bank	34.51	82.94%	8.05%	9.01%	1.29	23.91%
35	Equitas Bank	32.32	92.77%	7.15%	0.07%	0.15	96.09%
36	Andhra Pradesh Grameena Vikas Bank	29.08	85.16%	13.06%	1.78%	0.19	77.26%
37	Kerala Gramin Bank	27.50	92.37%	6.21%	1.42%	0.20	59.83%
38	Pragathi Krishna Gramin Bank	26.83	88.21%	8.07%	3.72%	0.47	43.83%
39	DBS Bank India Limited	26.42	94.37%	5.46%	0.17%	0.11	80.06%
40	Maharashtra Gramin Bank	25.64	85.76%	11.70%	2.54%	0.14	60.83%
41	Rajasthan Marudhara Gramin Bank	24.19	86.99%	12.02%	0.99%	0.12	80.01%
42	Standard Chartered	24.01	96.49%	2.85%	0.66%	0.09	82.30%
43	Saraswat Bank	23.34	94.90%	4.48%	0.62%	0.11	75.37%
44	Baroda UP Gramin Bank	22.48	75.41%	9.17%	15.41%	0.78	18.33%
45	Fincare Small Finance Bank Ltd	21.68	84.95%	14.46%	0.59%	0.13	90.47%
46	ESAF Small Finance Bank Ltd.	21.48	94.68%	4.92%	0.40%	0.10	92.16%
47	Citi Bank	19.73	96.53%	3.11%	0.36%	0.08	98.72%
48	Sarva Haryana Gramin Bank	18.34	91.76%	7.50%	0.74%	0.12	67.26%
49	Andhra Pragathi Grameena Bank	18.19	79.51%	14.58%	5.92%	0.23	32.75%
50	RBL Bank Limited	15.10	89.02%	10.26%	0.72%	0.00	NA

UPI Top 50 Member Beneficiary Performance (Apr'24)

UPI Beneficiary Banks - Top 50 Banks (Apr'24)
Sr.No.	UPI Beneficiary Banks (Apr-2024)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Yes Bank Ltd	5,076.40	99.97%	0.02%	0.01%	0.00%
2	State Bank Of India	1,512.29	99.01%	0.11%	0.89%	0.18%
3	Axis Bank Ltd.	1,248.35	99.92%	0.08%	0.00%	0.04%
4	HDFC BANK LTD	625.05	98.74%	1.19%	0.07%	0.02%
5	ICICI Bank	606.73	99.58%	0.40%	0.02%	0.02%
6	Bank of Baroda	376.04	98.51%	1.01%	0.49%	0.31%
7	Federal Bank	373.70	99.74%	0.23%	0.03%	0.00%
8	Union Bank of India	346.48	97.99%	0.13%	1.88%	0.44%
9	Punjab National Bank	311.53	98.62%	0.39%	0.99%	0.20%
10	Canara Bank	297.27	98.17%	1.24%	0.59%	0.21%
11	Kotak Mahindra Bank	283.22	97.82%	1.13%	1.05%	0.33%
12	Airtel Payments Bank	253.57	99.19%	0.23%	0.58%	0.12%
13	Indian Bank	220.90	98.97%	0.91%	0.11%	0.13%
14	Bank of India	197.52	98.76%	0.40%	0.84%	0.16%
15	INDUSIND BANK	124.15	98.54%	0.83%	0.64%	0.10%
16	India Post Payment Bank	111.72	98.04%	1.30%	0.65%	0.31%
17	Central Bank Of India	92.14	97.91%	0.36%	1.73%	0.52%
18	Indian Overseas Bank	87.08	98.24%	0.45%	1.31%	0.35%
19	UCO Bank	84.09	98.49%	0.70%	0.81%	0.09%
20	Fino Payments Bank Limited	65.46	96.15%	3.18%	0.66%	0.07%
21	IDBI Bank Limited	65.04	98.63%	0.44%	0.93%	0.51%
22	Bank of Maharashtra	60.58	98.65%	0.19%	1.16%	0.20%
23	RBL Bank Limited	52.02	97.84%	2.01%	0.15%	0.07%
24	Karnataka Bank	46.09	97.89%	1.23%	0.88%	0.09%
25	IDFC FIRST Bank	35.26	98.60%	1.28%	0.11%	0.04%
26	Karur Vysya Bank	34.16	98.29%	1.19%	0.52%	0.08%
27	Bandhan Bank	33.71	97.87%	0.28%	1.85%	0.07%
28	South Indian Bank	32.20	98.40%	1.49%	0.11%	0.02%
29	AU small Finance Bank	28.54	96.21%	3.06%	0.73%	0.13%
30	Jammu and Kashmir Bank	27.28	99.07%	0.66%	0.28%	0.28%
31	Tamilnad Mercantile Bank	23.83	99.39%	0.10%	0.51%	0.03%
32	Tri O Tech Solutions Private Limited	23.07	95.36%	4.50%	0.15%	0.02%
33	Ujjivan Small Finance Bank	21.39	98.93%	0.92%	0.15%	0.11%
34	City Union Bank	20.60	97.95%	1.82%	0.24%	0.02%
35	Kerala Gramin Bank	14.82	98.92%	0.30%	0.77%	0.54%
36	Punjab and Sind Bank	14.56	92.73%	0.79%	6.48%	2.90%
37	Equitas Small Finance Bank	14.05	98.23%	1.50%	0.27%	0.02%
38	Andhra Pradesh Grameena Vikas Bank	13.65	98.85%	0.56%	0.59%	0.08%
39	Pragathi Krishna Gramin Bank	13.14	97.54%	0.40%	2.07%	1.21%
40	Jio Payments Bank	13.01	98.77%	0.37%	0.86%	0.47%
41	Maharashtra Gramin Bank	11.84	97.53%	0.33%	2.14%	0.29%
42	DBS Bank India Limited	11.43	97.26%	1.79%	0.95%	0.08%
43	Rajasthan Marudhara Gramin Bank	11.34	99.43%	0.38%	0.19%	0.04%
44	Baroda UP Gramin Bank	11.01	88.10%	0.65%	11.26%	2.49%
45	Fincare Small Finance Bank Ltd	10.50	96.19%	3.29%	0.53%	0.05%
46	ESAF Small Finance Bank Ltd.	10.43	99.68%	0.13%	0.19%	0.11%
47	Citi Bank	9.88	99.81%	0.00%	0.19%	0.24%
48	Andhra Pragathi Grameena Bank	9.29	95.43%	1.17%	3.40%	0.12%
49	Sarva Haryana Gramin Bank	7.88	99.00%	0.38%	0.62%	0.16%
50	Saraswat Bank	7.64	96.99%	2.39%	0.62%	0.14%

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 (Apr'24)

UPI Apps (Apr'24)
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	6,500.14	10,01,679.63	0.00	0.00	0.00	0.00	0.00	0.00	6,500.14	10,01,679.63
2	Google Pay	5,027.32	6,94,189.68	0.00	0.00	0.00	0.00	0.00	0.00	5,027.32	6,94,189.68
3	Paytm	1,117.13	1,22,554.24	0.00	0.01	0.00	0.00	0.00	0.00	1,117.13	1,22,554.25
4	Cred	138.46	43,233.21	0.00	0.00	0.00	0.00	0.00	0.00	138.46	43,233.21
5	Axis Bank Apps	13.53	3,313.28	56.27	3,168.22	0.01	1.74	0.00	0.00	69.80	6,483.24
6	Amazon Pay	64.33	6,784.82	0.00	0.00	0.00	0.00	0.00	0.00	64.33	6,784.82
7	ICICI Bank Apps	35.39	14,357.18	3.57	336.49	8.45	11,945.21	0.00	0.00	47.41	26,638.88
8	Fampay	46.64	588.00	0.00	0.00	0.00	0.00	0.00	0.00	46.64	588.00
9	Kotak Mahindra Bank Apps	41.54	6,101.88	0.00	0.00	0.00	0.00	0.00	0.00	41.54	6,101.88
10	HDFC Bank Apps	35.99	7,689.44	0.00	0.00	0.01	0.32	0.00	0.00	35.99	7,689.76
11	WhatsApp	34.12	2,815.68	0.00	0.00	0.00	0.00	0.00	0.00	34.12	2,815.68
12	BHIM	25.48	8,670.52	0.00	0.00	0.00	0.00	0.00	0.00	25.48	8,670.52
13	Yes Bank Apps	21.99	11,978.36	0.00	0.00	0.27	31.04	0.00	0.00	22.26	12,009.40
14	Airtel Payments Bank Apps	16.19	1,243.65	0.00	0.00	0.00	0.40	0.00	0.09	16.19	1,244.14
15	Navi	15.10	402.92	0.00	0.00	0.00	0.00	0.00	0.00	15.10	402.92
16	Bajaj Finserv	10.29	1,819.55	0.00	0.00	0.00	0.00	0.00	0.00	10.29	1,819.55
17	Mobikwik	9.76	2,248.19	0.00	0.00	0.00	0.00	0.00	0.00	9.76	2,248.19
18	Groww	8.02	5,452.72	0.00	0.00	0.00	0.00	0.00	0.00	8.02	5,452.72
19	Slice	7.51	608.62	0.00	0.00	0.00	0.00	0.00	0.00	7.51	608.62
20	State Bank of India Apps	6.49	2,385.64	0.00	0.00	0.04	1.14	0.00	0.00	6.53	2,386.79
21	IDFC Bank Apps	6.45	1,581.78	0.00	0.00	0.00	0.00	0.00	0.00	6.45	1,581.78
22	Samsung Pay	6.30	527.40	0.00	0.00	0.00	0.00	0.00	0.00	6.30	527.40
23	Federal Bank Apps	6.14	821.80	0.00	0.00	0.00	0.00	0.00	0.00	6.14	821.80
24	Jupiter	5.92	710.69	0.00	0.00	0.00	0.00	0.00	0.00	5.92	710.69
25	India Post Payments Bank Apps	5.08	687.52	0.00	0.00	0.00	0.00	0.00	0.00	5.08	687.52
26	Flipkart UPI	3.46	174.73	0.00	0.00	0.00	0.00	0.00	0.00	3.46	174.73
27	Deutsche Bank Apps	3.28	441.56	0.00	0.00	0.00	0.02	0.00	0.00	3.28	441.58
28	Canara Bank Apps	3.03	812.15	0.00	0.00	0.00	0.00	0.00	0.00	3.03	812.15
29	Timepay	2.15	24.14	0.00	0.00	0.00	0.10	0.00	0.00	2.16	24.25
30	Jio Payments Bank Apps	1.87	164.17	0.00	0.00	0.00	0.00	0.00	0.00	1.87	164.17
31	Punjab National Bank Apps	1.66	419.99	0.00	0.00	0.00	0.00	0.00	0.00	1.66	419.99
32	RBL Bank Apps	1.46	529.18	0.00	0.01	0.11	117.10	0.00	0.00	1.57	646.29
33	Indian Bank Apps	1.50	310.69	0.00	0.00	0.00	6.71	0.00	0.00	1.50	317.40
34	Union Bank Apps	1.25	525.02	0.00	0.00	0.00	0.00	0.00	0.00	1.25	525.02
35	Omnicard	1.06	37.27	0.00	0.00	0.00	0.00	0.00	0.00	1.06	37.27
36	Bank of Baroda Apps	0.99	459.50	0.00	0.00	0.00	8.27	0.00	0.00	0.99	467.77
37	Central Bank of India Apps	0.89	204.45	0.00	0.00	0.00	0.00	0.00	0.00	0.89	204.45
38	AU Small Finance Bank Apps	0.80	257.99	0.00	0.00	0.00	0.00	0.00	0.00	0.80	257.99
39	Go Kiwi	0.58	92.87	0.00	0.00	0.00	0.00	0.00	0.00	0.58	92.87
40	DBS Digibank Apps	0.46	182.52	0.00	0.00	0.00	0.38	0.00	0.00	0.47	182.89
41	South Indian Bank Apps	0.43	129.71	0.00	0.00	0.00	0.00	0.00	0.00	0.43	129.71
42	Shriram One	0.40	37.49	0.00	0.00	0.00	0.00	0.00	0.00	0.40	37.49
43	Fino Payments bank Apps	0.35	49.47	0.00	0.00	0.00	0.00	0.00	0.00	0.35	49.47
44	IndusInd Bank Apps	1.06	191.64	0	0	0	0.26	0	0	1.06	191.90
45	HSBC Bank Apps	0.32	126.55	0.00	0.05	0.00	0.00	0.00	0.00	0.32	126.59
46	TataNeu	0.32	34.06	0.00	0.00	0.00	0.00	0.00	0.00	0.32	34.06
47	Bank of India Apps	0.21	87.25	0.00	0.00	0.00	0.00	0.00	0.00	0.21	87.25
48	Standard Chartered Bank Apps	0.16	105.48	0.00	0.00	0.00	0.03	0.00	0.00	0.16	105.51
49	UCO Bank Apps	0.16	54.30	0.00	0.00	0.00	0.00	0.00	0.00	0.16	54.30
50	Digikhata	0.15	51.08	0.00	0.00	0.00	0.00	0.00	0.00	0.15	51.08
51	Karnataka Bank Apps	0.15	27.18	0.00	0.00	0.00	0.00	0.00	0.00	0.15	27.18
52	Jupiter Edge	0.14	22.88	0.00	0.00	0.00	0.00	0.00	0.00	0.14	22.88
53	Dhani	0.13	7.44	0.00	0.00	0.00	0.00	0.00	0.00	0.13	7.44
54	Indian Overseas Bank Apps	0.11	30.10	0.00	0.00	0.00	0.00	0.00	0.00	0.11	30.10
55	Ultracash	0.09	6.16	0.00	0.00	0.00	0.00	0.00	0.00	0.09	6.16
56	Tamilnad Mercantile Bank Apps	0.09	24.69	0.00	0.00	0.00	0.00	0.00	0.00	0.09	24.69
57	City Union Bank Apps	0.08	26.60	0.00	0.00	0.00	0.00	0.00	0.00	0.08	26.60
58	NSDL Payments Bank Apps	0.08	11.88	0.00	0.00	0.00	0.00	0.00	0.00	0.08	11.88
59	Citi Bank Apps	0.06	69.18	0.00	0.00	0.00	0.01	0.00	0.00	0.06	69.19
60	IDBI Bank Apps	0.06	20.15	0.00	0.00	0.00	0.00	0.00	0.00	0.06	20.15
61	Bank of Maharashtra Apps	0.06	13.96	0.00	0.00	0.00	0.10	0.00	0.00	0.06	14.06
62	Karur Vysya Bank Apps	0.05	18.94	0.00	0.00	0.00	0.00	0.00	0.00	0.05	18.94
63	MakeMyTrip	0.04	19.32	0.00	0.00	0.00	0.00	0.00	0.00	0.04	19.32
64	Go Niyo	0.04	16.77	0.00	0.00	0.00	0.00	0.00	0.00	0.04	16.77
65	Equitas Small Finance Bank Apps	0.03	25.52	0.00	0.00	0.00	0.00	0.00	0.00	0.03	25.52
66	Punjab Sind Bank Apps	0.03	12.15	0.00	0.00	0.00	0.00	0.00	0.00	0.03	12.15
67	Allahabad Bank Apps	0.02	6.18	0.00	0.00	0.00	0.00	0.00	0.00	0.02	6.18
68	Fave	0.02	1.16	0.00	0.00	0.00	0.00	0.00	0.00	0.02	1.16
69	Cheq	0.01	1.13	0.00	0.00	0.00	0.00	0.00	0.00	0.01	1.13
70	Other Apps	1.03	108.18	0.00	0.00	0.15	4.42	0.00	0.00	1.18	112.60

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
TPAP Volume Market Share statistics excludes the cross-border transactions.

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)
Apr’24	13,303.99	19,64,464.52	4,996.52	14,33,520.79	8,307.47	5,30,943.73

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 (Apr'24)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	YES BANK LTD	5118.50	92.73%	7.10%	0.17%
2	AXIS BANK LTD.	3794.19	94.05%	5.75%	0.19%
3	ICICI BANK	2627.42	93.80%	6.01%	0.19%
4	STATE BANK OF INDIA	1231.71	95.71%	4.18%	0.11%
5	HDFC BANK LTD	1215.36	95.24%	4.63%	0.12%
6	TRI O TECH SOLUTIONS PRIVATE LIMITED	46.64	100.00%	0.00%	0.00%
7	KOTAK MAHINDRA BANK	41.81	100.00%	0.00%	0.00%
8	BHIM	27.42	92.90%	6.85%	0.26%
9	AIRTEL PAYMENTS BANK	16.92	95.70%	4.22%	0.07%
10	IDBI BANK LIMITED	6.85	99.12%	0.87%	0.01%
11	FEDERAL BANK	6.28	97.90%	2.08%	0.03%
12	RBL Bank	6.28	95.22%	4.61%	0.17%
13	INDIA POST PAYMENT BANK	5.09	99.98%	0.02%	0.00%
14	GARAGEPRENEURS INTERNET PRIVATE LIMITED	3.88	100.00%	0.00%	0.00%
15	CANARA BANK	3.36	95.42%	4.23%	0.35%

UPI Payee PSP Performance

UPI Payee PSP Performance (Apr'24)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	YES BANK LTD	7639.57	93.55%	6.28%	0.16%
2	AXIS BANK LTD.	2174.25	94.11%	5.71%	0.19%
3	ICICI BANK	1461.34	93.53%	6.29%	0.18%
4	STATE BANK OF INDIA	787.30	94.19%	5.68%	0.13%
5	HDFC BANK LTD	726.18	94.85%	4.99%	0.16%
6	FEDERAL BANK	306.19	96.74%	3.10%	0.16%
7	AIRTEL PAYMENTS BANK	70.51	94.75%	5.11%	0.14%
8	INDUSIND BANK	65.36	94.53%	5.31%	0.17%
9	COSMOS BANK	61.64	90.73%	9.08%	0.19%
10	RBL BANK	61.54	93.30%	6.45%	0.25%
11	KOTAK MAHINDRA BANK	44.53	94.67%	5.13%	0.19%
12	CANARA BANK	41.68	96.45%	3.41%	0.14%
13	INDIAN BANK	37.22	92.12%	7.66%	0.22%
14	ONE MOBIKWIK SYSTEMS LIMITED	26.80	96.47%	3.39%	0.14%
15	TRI O TECH SOLUTIONS PRIVATE LIMITED	23.65	92.74%	7.05%	0.21%

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 - Apr 24

UPI Merchant Category-wise Classification - Apr'24
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5814	Fast food restaurants
	5812	Eating places and restaurants
	4814	Telecommunication services, including local and long distance calls, credit ca
	5816	Digital Goods: Games
	5541	Service stations (with or without ancillary services)
	5912	Drug stores and pharmacies
	5462	Bakeries
	5311	Department stores
	5451	Dairies
Medium Transacting Categories	4900	Utilities electric, gas, water and sanitary
	7322	Debt collection agencies
	5813	Drinking places (alcoholic beverages) bars, taverns, night-clubs, cocktail lou
	5441	Candy, nut and confectionery shops
	7622	Electronics repair shops
	5137	Mens, womens and childrens uniforms and commercial clothing
	5993	Cigar shops and stands
	5921	Package shops beer, wine and liquor
	5422	Freezer and locker meat provisioners
	5732	Electronics shops
All Other Categories	7230	Beauty and barber shops
	6211	Securities brokers and dealers
	9399	Government services not elsewhere classified
	5262	Online Marketplaces
	4112	Passenger railways
	5691	Mens and womens clothing shops
	6012	Financial institutions merchandise and services
	5331	Variety stores
	5651	Family clothing shops
	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 Member Remitter Performance (Mar'24)

UPI Remitter Banks - Top 50 Banks (Mar'24)
Sr. No.	UPI Remitter Banks (Mar-2024)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank Of India	3557.54	94.99%	4.70%	0.32%	16.59	95.04%
2	HDFC BANK LTD	1158.51	96.13%	3.86%	0.01%	4.26	99.60%
3	Bank of Baroda	882.82	93.30%	6.25%	0.45%	4.40	96.49%
4	Union Bank of India	848.59	93.47%	5.14%	1.40%	6.51	53.92%
5	Punjab National Bank	728.08	94.22%	5.54%	0.23%	3.49	99.11%
6	Kotak Mahindra Bank	703.56	93.66%	6.20%	0.14%	3.28	90.24%
7	Canara Bank	642.81	93.72%	5.91%	0.37%	3.68	81.79%
8	Axis Bank Ltd.	630.13	96.07%	3.93%	0.01%	2.14	97.72%
9	ICICI Bank	603.62	96.40%	3.52%	0.09%	2.07	95.68%
10	Bank of India	434.19	94.63%	5.03%	0.34%	2.23	84.44%
11	Indian Bank	400.98	94.39%	5.40%	0.21%	2.44	75.20%
12	Airtel Payments Bank	387.91	91.25%	8.63%	0.12%	2.14	95.89%
13	India Post Payment Bank	312.23	80.17%	13.85%	5.98%	3.15	46.99%
14	Federal Bank	204.83	94.79%	5.01%	0.20%	0.76	98.04%
15	Central Bank Of India	200.37	85.98%	10.69%	3.33%	2.61	51.15%
16	Indian Overseas Bank	188.01	92.66%	4.92%	2.42%	1.21	91.57%
17	UCO Bank	171.87	93.19%	5.90%	0.91%	1.34	57.58%
18	Bank of Maharashtra	153.39	89.77%	5.41%	4.83%	1.43	59.23%
19	IDBI Bank Limited	151.70	93.27%	5.26%	1.47%	0.99	70.17%
20	INDUSIND BANK	142.64	92.76%	6.76%	0.47%	0.91	92.70%
21	Fino Payments Bank Limited	136.77	88.98%	9.53%	1.48%	0.92	70.73%
22	Karnataka Bank	106.23	92.83%	6.07%	1.10%	0.61	71.09%
23	Yes Bank Ltd	103.43	94.43%	5.40%	0.17%	0.35	95.02%
24	Paytm Payments Bank	98.18	89.73%	10.25%	0.03%	0.35	96.43%
25	IDFC FIRST Bank	83.30	92.99%	6.72%	0.28%	0.39	82.51%
26	Karur Vysya Bank	67.68	91.62%	5.87%	2.51%	0.45	79.24%
27	Bandhan Bank	54.03	93.13%	5.90%	0.97%	0.30	98.34%
28	South Indian Bank	53.06	95.66%	4.30%	0.04%	0.15	96.38%
29	Jammu and Kashmir Bank	52.39	94.19%	5.01%	0.80%	0.40	58.67%
30	AU small Finance Bank	45.20	93.76%	5.01%	1.23%	0.35	91.10%
31	Tri O Tech Solutions Private Limited	43.69	100.00%	0.00%	0.00%	0.00	0.00%
32	Ujjivan Small Finance Bank	42.64	94.16%	5.62%	0.22%	0.21	95.46%
33	City Union Bank	40.70	92.12%	7.57%	0.31%	0.14	99.51%
34	Punjab and Sind Bank	36.91	88.97%	6.85%	4.18%	0.65	41.18%
35	Tamilnad Mercantile Bank	36.68	91.40%	6.86%	1.75%	0.23	52.03%
36	Equitas Bank	32.26	92.46%	7.26%	0.28%	0.17	96.21%
37	Andhra Pradesh Grameena Vikas Bank	28.83	84.18%	12.67%	3.15%	0.30	56.53%
38	Kerala Gramin Bank	27.13	92.84%	6.20%	0.96%	0.15	52.05%
39	DBS Bank India Limited	26.67	94.70%	5.04%	0.26%	0.11	81.96%
40	Pragathi Krishna Gramin Bank	26.20	89.82%	8.08%	2.10%	0.30	49.95%
41	Maharashtra Gramin Bank	25.45	87.57%	11.61%	0.83%	0.09	94.05%
42	Standard Chartered	25.13	97.12%	2.69%	0.19%	0.09	94.80%
43	Rajasthan Marudhara Gramin Bank	24.86	83.35%	11.87%	4.78%	0.29	41.00%
44	Saraswat Bank	23.28	95.74%	3.94%	0.32%	0.10	82.32%
45	Baroda UP Gramin Bank	22.31	74.22%	10.56%	15.22%	1.02	14.65%
46	ESAF Small Finance Bank Ltd.	21.76	93.86%	5.08%	1.06%	0.13	73.09%
47	Fincare Small Finance Bank Ltd	21.32	85.10%	14.43%	0.47%	0.12	94.35%
48	Citibank	20.78	96.61%	3.06%	0.32%	0.09	98.88%
49	Sarva Haryana Gramin Bank	17.71	92.50%	7.00%	0.50%	0.11	82.22%
50	Andhra Pragathi Grameena Bank	17.33	84.52%	13.38%	2.10%	0.14	53.68%

UPI Top 50 Member Beneficiary Performance (Mar'24)

UPI Beneficiary Banks - Top 50 Banks (Mar'24)
Sr.No.	UPI Beneficiary Banks (Mar-2024)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Yes Bank Ltd	2,638.46	99.93%	0.04%	0.04%	0.00%
2	Paytm Payments Bank	2,490.22	99.83%	0.16%	0.02%	0.00%
3	State Bank Of India	1,524.71	99.59%	0.13%	0.28%	0.04%
4	Axis Bank Ltd.	1,230.70	99.89%	0.11%	0.00%	0.06%
5	ICICI Bank	647.55	99.55%	0.40%	0.05%	0.04%
6	HDFC BANK LTD	643.37	98.79%	1.19%	0.02%	0.02%
7	Bank of Baroda	372.75	99.56%	0.31%	0.13%	0.18%
8	Federal Bank	370.03	99.62%	0.28%	0.11%	0.01%
9	Union Bank of India	357.49	99.01%	0.13%	0.86%	0.30%
10	Punjab National Bank	312.24	99.55%	0.34%	0.11%	0.09%
11	Canara Bank	303.29	98.06%	1.60%	0.35%	0.19%
12	Kotak Mahindra Bank	283.32	99.56%	0.38%	0.06%	0.08%
13	Airtel Payments Bank	231.80	99.54%	0.28%	0.19%	0.03%
14	Indian Bank	225.26	98.93%	0.95%	0.12%	0.14%
15	Bank of India	197.83	99.54%	0.20%	0.26%	0.09%
16	INDUSIND BANK	131.65	99.20%	0.45%	0.36%	0.12%
17	India Post Payment Bank	131.52	95.21%	0.41%	4.38%	0.34%
18	Central Bank Of India	93.29	98.14%	0.40%	1.46%	0.58%
19	Indian Overseas Bank	87.87	97.75%	0.47%	1.78%	0.57%
20	UCO Bank	84.00	98.67%	0.85%	0.48%	0.25%
21	IDBI Bank Limited	65.49	98.13%	0.74%	1.13%	0.16%
22	Fino Payments Bank Limited	63.82	96.00%	2.83%	1.17%	0.19%
23	Bank of Maharashtra	61.24	95.97%	0.19%	3.84%	0.41%
24	RBL Bank Limited	49.38	94.08%	2.96%	2.96%	0.93%
25	Karnataka Bank	46.73	97.72%	1.46%	0.82%	0.10%
26	IDFC FIRST Bank	36.02	98.06%	1.71%	0.23%	0.07%
27	Karur Vysya Bank	35.22	97.58%	1.21%	1.21%	0.21%
28	Bandhan Bank	32.36	98.60%	0.26%	1.14%	0.01%
29	South Indian Bank	32.16	98.07%	1.87%	0.06%	0.02%
30	AU small Finance Bank	30.19	96.15%	2.96%	0.89%	0.19%
31	Jammu and Kashmir Bank	25.44	98.96%	0.78%	0.26%	0.21%
32	Tamilnad Mercantile Bank	24.37	98.31%	0.10%	1.59%	0.27%
33	Tri O Tech Solutions Private Limited	22.15	95.35%	4.60%	0.06%	0.00%
34	Ujjivan Small Finance Bank	21.74	98.73%	1.12%	0.16%	0.12%
35	City Union Bank	21.21	97.61%	2.12%	0.28%	0.04%
36	Punjab and Sind Bank	16.20	95.93%	1.26%	2.81%	0.85%
37	Kerala Gramin Bank	15.07	99.27%	0.28%	0.45%	0.30%
38	Equitas Bank	14.44	97.44%	2.28%	0.28%	0.02%
39	Andhra Pradesh Grameena Vikas Bank	13.56	97.46%	0.65%	1.89%	0.30%
40	Pragathi Krishna Gramin Bank	12.98	98.57%	0.39%	1.04%	0.67%
41	DBS Bank India Limited	12.36	97.79%	1.75%	0.46%	0.15%
42	Maharashtra Gramin Bank	11.89	99.11%	0.35%	0.54%	0.09%
43	Rajasthan Marudhara Gramin Bank	11.79	96.75%	0.47%	2.77%	0.46%
44	Citibank	11.77	99.86%	0.00%	0.14%	0.17%
45	Jio Payments Bank	11.55	98.96%	0.59%	0.45%	0.08%
46	Baroda UP Gramin Bank	11.16	88.76%	0.70%	10.54%	3.51%
47	ESAF Small Finance Bank Ltd.	10.73	99.17%	0.11%	0.72%	0.21%
48	Andhra Pragathi Grameena Bank	9.12	97.42%	0.68%	1.90%	0.05%
49	Sarva Haryana Gramin Bank	7.84	99.22%	0.43%	0.34%	0.00%
50	Saraswat Bank	7.84	97.10%	2.64%	0.27%	0.11%

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 (Mar'24)

UPI Apps (Mar'24)
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	6,502.15	10,02,387.84	-	-	-	-	-	-	6,502.15	10,02,387.84
2	Google Pay	5,061.18	6,95,196.05	-	-	-	-	-	-	5,061.18	6,95,196.05
3	Paytm	1,210.64	1,33,707.06	-	0.01	-	-	19.40	699.77	1,230.04	1,34,406.85
4	Cred	132.31	44,991.57	-	-	-	-	-	-	132.31	44,991.57
5	Axis Bank Apps	13.59	3,044.92	81.00	4,389.01	0.01	1.99	-	-	94.60	7,435.92
6	Amazon Pay	65.35	6,772.89	-	-	-	-	-	-	65.35	6,772.89
7	ICICI Bank Apps	33.54	14,491.28	4.54	397.58	7.90	11,608.08	-	-	45.98	26,496.95
8	Fampay	43.69	528.01	-	-	-	-	-	-	43.69	528.01
9	Kotak Mahindra Bank Apps	39.14	5,763.37	-	-	-	-	-	-	39.14	5,763.37
10	HDFC Bank Apps	33.07	7,289.09	1.95	3.72	0.01	0.26	-	-	35.03	7,293.07
11	WhatsApp	31.21	2,536.99	-	-	-	-	-	-	31.21	2,536.99
12	BHIM	30.04	8,339.37	-	-	-	-	-	-	30.04	8,339.37
13	Yes Bank Apps	24.13	13,833.30	-	-	0.32	35.80	-	-	24.45	13,869.10
14	Airtel Payments Bank Apps	15.64	1,162.62	-	-	-	0.20	0.37	44.20	16.01	1,207.02
15	Bajaj Finserv	15.81	2,803.20	-	-	-	-	-	-	15.81	2,803.20
16	Mobikwik	8.27	2,190.01	-	-	-	-	-	-	8.27	2,190.01
17	India Post Payments Bank Apps	6.82	851.01	-	-	-	-	-	-	6.82	851.01
18	Groww	6.72	3,539.14	-	-	-	-	-	-	6.72	3,539.14
19	State Bank of India Apps	6.59	2,394.79	-	-	0.04	1.08	-	-	6.63	2,395.88
20	IDFC Bank Apps	6.41	1,581.28	-	-	-	-	-	-	6.41	1,581.28
21	Samsung Pay	6.24	530.80	-	-	-	-	-	-	6.24	530.80
22	Jupiter	5.57	709.07	-	-	-	-	-	-	5.57	709.07
23	Flipkart	5.00	197.24	-	-	-	-	-	-	5.00	197.24
24	Deutsche Bank Apps	3.30	453.57	-	-	-	0.02	-	-	3.30	453.59
25	Federal Bank Apps	6.11	806.45	-	-	-	0.01	-	-	6.11	806.46
26	Canara Bank Apps	3.10	798.84	-	-	-	-	-	-	3.10	798.84
27	Navi	3.00	94.29	-	-	-	-	-	-	3.00	94.29
28	Slice	5.22	538.12	-	-	-	-	-	-	5.22	538.12
29	Jio Payments Bank Apps	1.87	161.87	-	-	-	-	-	-	1.87	161.87
30	Indian Bank Apps	1.85	340.92	-	-	0.01	43.86	-	-	1.86	384.79
31	RBL Bank Apps	1.56	366.34	-	0.02	0.27	99.89	-	-	1.83	466.25
32	Punjab National Bank Apps	1.67	411.13	-	-	-	-	-	-	1.67	411.13
33	Timepay	1.37	18.50	-	-	-	0.02	-	-	1.37	18.52
34	Union Bank Apps	1.35	517.15	-	-	-	0.01	-	-	1.35	517.16
35	Omnicard	1.29	44.84	-	-	-	-	-	-	1.29	44.84
36	Bank of Baroda Apps	0.95	419.08	-	-	-	7.73	-	-	0.95	426.81
37	Central Bank of India Apps	0.86	195.46	-	-	-	-	-	-	0.86	195.46
38	AU Small Finance Bank Apps	0.78	279.91	-	-	-	-	-	-	0.78	279.91
39	Gokiwi	0.70	100.10	-	-	-	-	-	-	0.70	100.10
40	DBS Digibank Apps	0.51	202.89	-	-	-	0.29	-	-	0.51	203.18
41	Shriram One	0.48	38.71	-	-	-	-	-	-	0.48	38.71
42	South Indian Bank Apps	0.40	120.88	-	-	-	-	-	-	0.40	120.88
43	Fino Payments bank Apps	0.39	50.97	-	-	-	-	-	-	0.39	50.97
44	IndusInd Bank Apps	1.39	228.02	-	-	-	0.12	-	-	1.39	228.14
45	HSBC Bank Apps	0.31	138.16	-	0.06	-	-	-	-	0.31	138.22
46	TataNeu	0.25	25.46	-	-	-	-	-	-	0.25	25.46
47	Bank of India Apps	0.20	78.81	-	-	-	-	-	-	0.20	78.81
48	Standard Chartered Bank Apps	0.19	115.77	-	-	-	1.11	-	-	0.19	116.88
49	Dhani	0.19	5.98	-	-	-	-	-	-	0.19	5.98
50	UCO Bank Apps	0.18	56.32	-	-	-	-	-	-	0.18	56.32
51	Karnataka Bank Apps	0.16	25.58	-	-	-	-	-	-	0.16	25.58
52	Jupiter Edge	0.14	32.22	-	-	-	-	-	-	0.14	32.22
53	Digikhata	0.13	48.01	-	-	-	-	-	-	0.13	48.01
54	Indian Overseas Bank Apps	0.11	30.44	-	-	-	-	-	-	0.11	30.44
55	Tamilnad Mercantile Bank Apps	0.10	28.72	-	-	-	-	-	-	0.10	28.72
56	Ultracash	0.09	6.57	-	-	-	-	-	-	0.09	6.57
57	Citi Bank Apps	0.09	66.70	-	-	-	0.01	-	-	0.09	66.71
58	City Union Bank Apps	0.08	26.73	-	-	-	-	-	-	0.08	26.73
59	NSDL Payments Bank Apps	0.07	10.57	-	-	-	-	-	-	0.07	10.57
60	Bank of Maharashtra Apps	0.05	11.60	-	-	-	0.07	-	-	0.05	11.67
61	Karur Vysya Bank Apps	0.05	17.68	-	-	-	-	-	-	0.05	17.68
62	Equitas Small Finance Bank Apps	0.04	26.62	-	-	-	-	-	-	0.04	26.62
63	MakeMyTrip	0.03	18.75	-	-	-	-	-	-	0.03	18.75
64	Go Niyo	0.03	12.86	-	-	-	-	-	-	0.03	12.86
65	Allahabad Bank Apps	0.03	6.32	-	-	-	-	-	-	0.03	6.32
66	Other Apps	1.07	109.12	-	-	0.14	3.94	-	-	1.21	113.06

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)
Mar'24	13,440.00	19,78,353.23	5,144.03	14,60,125.24	8,295.97	5,18,227.99

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 (Mar'24)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	YES BANK LTD	3895.71	93.70%	6.18%	0.13%
2	AXIS BANK LTD.	3723.05	94.37%	5.48%	0.15%
3	ICICI BANK	2690.47	94.21%	5.65%	0.14%
4	PAYTM PAYMENTS BANK	1321.44	91.61%	8.26%	0.13%
5	STATE BANK OF INDIA	1255.46	95.77%	4.15%	0.08%
6	HDFC BANK LTD	1196.05	95.43%	4.45%	0.12%
7	TRI O TECH SOLUTIONS PRIVATE LIMITED	43.69	100.00%	0.00%	0.00%
8	KOTAK MAHINDRA BANK	39.38	100.00%	0.00%	0.00%
9	BHIM	32.08	93.66%	6.17%	0.17%
10	AIRTEL PAYMENTS BANK	16.43	95.22%	4.72%	0.06%
11	INDIA POST PAYMENT BANK	6.82	99.97%	0.03%	0.00%
12	IDFC First Bank	6.80	99.19%	0.81%	0.01%
13	RBL Bank	5.70	95.02%	4.84%	0.14%
14	CANARA BANK	3.43	95.23%	4.45%	0.33%
15	DEUTSCHE BANK CORP	3.28	100.00%	0.00%	0.00%

UPI Payee PSP Performance

UPI Payee PSP Performance (Mar'24)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	YES BANK LTD	4802.48	93.60%	6.27%	0.13%
2	PAYTM PAYMENTS BANK	2881.30	94.85%	5.03%	0.12%
3	AXIS BANK LTD.	2152.41	94.29%	5.56%	0.15%
4	ICICI BANK	1513.39	93.75%	6.11%	0.14%
5	STATE BANK OF INDIA	820.84	94.10%	5.78%	0.12%
6	HDFC BANK LTD	748.87	95.06%	4.83%	0.11%
7	FEDERAL BANK	299.60	96.81%	3.07%	0.12%
8	JUSPAY TECHNOLOGIES PVT LTD	222.05	95.89%	3.99%	0.12%
9	INDUSIND BANK	72.39	95.12%	4.75%	0.12%
10	AIRTEL PAYMENTS BANK	48.95	93.83%	6.04%	0.13%
11	RBL Bank	45.77	92.34%	7.42%	0.24%
12	COSMOS BANK	44.71	90.54%	9.29%	0.17%
13	KOTAK MAHINDRA BANK	44.60	94.79%	4.94%	0.26%
14	INDIAN BANK	40.25	92.21%	7.62%	0.17%
15	CANARA BANK	40.20	96.50%	3.40%	0.10%

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 - Mar 24

UPI Merchant Category-wise Classification - Mar'24
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5814	Fast food restaurants
	5812	Eating places and restaurants
	4814	Telecommunication services, including local and long distance calls, credit cardcalls, calls through use of magnetic stripe reading telephones and faxes
	5541	Service stations (with or without ancillary services)
	5816	Digital Goods: Games
	5311	Department stores
	5912	Drug stores and pharmacies
	5462	Bakeries
	4900	Utilities electric, gas, water and sanitary
Medium Transacting Categories	5451	Dairies
	7322	Debt collection agencies
	5813	Drinking places (alcoholic beverages) bars, taverns, night-clubs, cocktail lounges and discothques
	5441	Candy, nut and confectionery shops
	7622	Electronics repair shops
	5422	Freezer and locker meat provisioners
	5921	Package shops beer, wine and liquor
	5993	Cigar shops and stands
	5137	Mens, womens and childrens uniforms and commercial clothing
	5732	Electronics shops
All Other Categories	5399	Miscellaneous general merchandise
	7230	Beauty and barber shops
	6012	Financial institutions merchandise and services
	9399	Government services not elsewhere classified
	4112	Passenger railways
	6211	Securities brokers and dealers
	5331	Variety stores
	5691	Mens and womens clothing shops
	4812	Telecommunication equipment and telephone sales
	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 Member Remitter Performance (Feb'24)

UPI Remitter Banks - Top 50 Banks (Feb'24)
Sr. No.	UPI Remitter Banks (Feb-2024)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank Of India	3135.27	94.83%	4.23%	0.94%	13.94	90.58%
2	HDFC BANK LTD	1049.59	95.71%	3.60%	0.69%	5.35	75.52%
3	Bank of Baroda	786.15	93.46%	5.51%	1.03%	3.80	90.07%
4	Union Bank of India	754.01	93.80%	4.52%	1.68%	6.41	38.65%
5	Punjab National Bank	628.99	94.85%	4.90%	0.25%	2.50	97.32%
6	ICICI Bank	539.76	96.39%	3.32%	0.29%	2.21	90.34%
7	Axis Bank Ltd.	558.18	96.29%	3.66%	0.05%	1.95	83.76%
8	Kotak Mahindra Bank	609.79	93.10%	5.48%	1.42%	2.22	85.84%
9	Canara Bank	578.21	94.12%	5.42%	0.45%	3.13	84.99%
10	Paytm Payments Bank	294.20	94.39%	5.60%	0.01%	0.66	98.30%
11	Bank of India	389.19	94.55%	4.55%	0.90%	2.12	67.73%
12	Indian Bank	354.82	95.10%	4.63%	0.27%	1.34	92.06%
13	Airtel Payments Bank	344.18	91.11%	8.65%	0.24%	1.30	94.30%
14	India Post Payment Bank	271.05	83.20%	13.00%	3.81%	2.05	52.38%
15	Federal Bank	187.90	95.30%	4.44%	0.26%	0.69	94.65%
16	Central Bank Of India	179.35	82.62%	9.59%	7.80%	4.98	58.09%
17	Indian Overseas Bank	168.40	93.49%	4.67%	1.84%	1.15	90.23%
18	UCO Bank	148.69	94.51%	5.38%	0.11%	0.63	87.67%
19	IDBI Bank Limited	138.33	89.05%	4.39%	6.56%	2.30	71.66%
20	Bank of Maharashtra	135.58	91.92%	4.82%	3.26%	0.92	61.29%
21	INDUSIND BANK	129.68	93.37%	5.92%	0.71%	0.91	95.30%
22	Fino Payments Bank Limited	116.25	90.66%	8.85%	0.49%	0.60	69.94%
23	Yes Bank Ltd	93.40	94.70%	5.06%	0.24%	0.28	86.09%
24	Karnataka Bank	95.34	93.42%	5.76%	0.82%	0.41	84.09%
25	Karur Vysya Bank	60.33	94.05%	5.44%	0.50%	0.25	95.11%
26	Bandhan Bank	49.32	89.80%	6.16%	4.04%	0.56	74.85%
27	South Indian Bank	48.87	96.05%	3.93%	0.02%	0.14	95.53%
28	IDFC FIRST Bank	74.34	93.92%	5.96%	0.11%	0.28	100.00%
29	Jammu and Kashmir Bank	46.57	93.54%	5.16%	1.30%	0.46	35.63%
30	City Union Bank	36.62	93.36%	6.21%	0.43%	0.14	98.29%
31	Ujjivan Small Finance Bank	37.90	93.71%	5.66%	0.63%	0.21	67.81%
32	AU small Finance Bank	38.80	95.09%	4.54%	0.37%	0.21	95.33%
33	Tamilnad Mercantile Bank	32.68	93.01%	6.45%	0.54%	0.12	84.51%
34	Equitas Bank	28.88	93.09%	6.87%	0.04%	0.13	96.46%
35	Standard Chartered	26.59	95.99%	2.23%	1.78%	0.14	67.12%
36	Punjab and Sind Bank	31.49	90.85%	6.00%	3.16%	0.40	39.67%
37	DBS Bank India Limited	24.28	95.35%	4.37%	0.27%	0.09	77.88%
38	Andhra Pradesh Grameena Vikas Bank	26.19	83.85%	15.19%	0.96%	0.14	65.48%
39	Pragathi Krishna Gramin Bank	23.10	88.69%	7.67%	3.64%	0.38	43.13%
40	CITI Bank	18.92	95.17%	4.45%	0.37%	0.07	96.14%
41	Maharashtra Gramin Bank	22.28	86.73%	11.53%	1.75%	0.09	82.26%
42	Kerala Gramin Bank	25.18	90.99%	6.13%	2.88%	0.31	40.08%
43	Saraswat Bank	21.03	95.96%	3.78%	0.25%	0.08	83.40%
44	Tri O Tech Solutions Private Limited	37.89	100.00%	0.00%	0.00%	0.00	0.00%
45	Rajasthan Marudhara Gramin Bank	20.23	88.60%	10.75%	0.66%	0.13	70.74%
46	ESAF Small Finance Bank Ltd.	20.59	91.09%	4.91%	3.99%	0.24	71.75%
47	Baroda UP Gramin Bank	17.10	79.41%	12.40%	8.19%	0.40	44.55%
48	Sarva Haryana Gramin Bank	14.14	93.02%	6.95%	0.03%	0.06	95.68%
49	RBL Bank	15.27	81.63%	8.31%	10.06%	0.26	47.24%
50	Andhra Pragathi Grameena Bank	14.92	87.07%	11.97%	0.96%	0.07	79.19%

UPI Top 50 Member Beneficiary Performance (Feb'24)

UPI Beneficiary Banks - Top 50 Banks (Feb'24)
Sr.No.	UPI Beneficiary Banks (Feb-2024)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Paytm Payments Bank	2543.04	99.90%	0.08%	0.02%	0.00%
2	Yes Bank Ltd	2408.99	99.95%	0.03%	0.01%	0.00%
3	State Bank Of India	1350.11	98.92%	0.14%	0.93%	0.09%
4	Axis Bank Ltd.	1029.01	99.91%	0.08%	0.01%	0.02%
5	ICICI Bank	620.78	99.21%	0.67%	0.12%	0.10%
6	HDFC BANK LTD	553.52	98.17%	1.46%	0.37%	0.14%
7	Bank of Baroda	336.67	99.14%	0.32%	0.54%	0.52%
8	Union Bank of India	322.91	98.90%	0.13%	0.97%	0.43%
9	Federal Bank	316.08	99.47%	0.32%	0.21%	0.02%
10	Punjab National Bank	278.27	99.57%	0.33%	0.11%	0.12%
11	Canara Bank	272.27	98.49%	1.23%	0.29%	0.17%
12	Kotak Mahindra Bank	242.32	98.58%	0.40%	1.01%	0.53%
13	Airtel Payments Bank	200.32	99.35%	0.33%	0.32%	0.03%
14	Indian Bank	197.87	98.92%	0.88%	0.20%	0.04%
15	Bank of India	180.38	99.11%	0.23%	0.66%	0.18%
16	INDUSIND BANK	134.71	99.25%	0.31%	0.44%	0.21%
17	India Post Payment Bank	119.59	97.46%	0.38%	2.16%	0.26%
18	Central Bank Of India	84.86	94.84%	0.45%	4.71%	1.23%
19	Indian Overseas Bank	78.84	98.46%	0.47%	1.07%	0.45%
20	UCO Bank	74.07	99.21%	0.70%	0.08%	0.04%
21	IDBI Bank Limited	60.85	93.78%	0.54%	5.67%	0.93%
22	Bank of Maharashtra	54.57	96.19%	0.21%	3.60%	0.32%
23	RBL bank	52.57	94.24%	0.42%	5.34%	0.49%
24	Fino Payments Bank Limited	48.84	98.31%	1.31%	0.38%	0.15%
25	Karnataka Bank	41.82	98.27%	1.00%	0.73%	0.04%
26	IDFC FIRST Bank	35.13	98.05%	1.85%	0.10%	0.04%
27	Karur Vysya Bank	31.92	98.60%	1.16%	0.23%	0.06%
28	South Indian Bank	29.77	97.88%	2.10%	0.02%	0.01%
29	Bandhan Bank	29.22	96.68%	0.23%	3.09%	0.23%
30	AU small Finance Bank	26.60	96.28%	3.33%	0.39%	0.10%
31	Tamilnad Mercantile Bank	21.42	99.35%	0.17%	0.48%	0.04%
32	Jammu and Kashmir Bank	20.34	99.07%	0.45%	0.48%	0.46%
33	Ujjivan Small Finance Bank	19.51	98.59%	1.02%	0.39%	0.25%
34	City Union Bank	19.30	97.55%	2.13%	0.32%	0.02%
35	Tri O Tech Solutions Private Limited	18.51	96.17%	3.80%	0.03%	0.01%
36	ONE MOBIKWIK SYSTEMS LIMITED	15.24	99.99%	0.00%	0.01%	0.00%
37	Punjab and Sind Bank	14.14	96.07%	1.14%	2.79%	0.61%
38	Kerala Gramin Bank	14.01	97.80%	0.25%	1.96%	0.97%
39	Equitas Bank	13.15	97.90%	1.85%	0.25%	0.01%
40	Andhra Pradesh Grameena Vikas Bank	12.36	98.38%	1.23%	0.40%	0.14%
41	DBS Bank India Limited	12.03	98.53%	1.21%	0.26%	0.12%
42	Pragathi Krishna Gramin Bank	11.61	97.30%	0.61%	2.09%	1.18%
43	Jio Payments Bank	11.33	99.39%	0.26%	0.36%	0.27%
44	CITI Bank	10.68	99.84%	0.00%	0.16%	0.24%
45	Maharashtra Gramin Bank	10.56	98.15%	0.32%	1.53%	0.17%
46	Rajasthan Marudhara Gramin Bank	10.31	98.04%	0.40%	1.55%	0.13%
47	ESAF Small Finance Bank Ltd.	10.16	97.11%	0.11%	2.78%	0.38%
48	Baroda UP Gramin Bank	9.18	92.84%	0.82%	6.34%	1.71%
49	Fincare Small Finance Bank Ltd	8.55	96.27%	3.29%	0.44%	0.09%
50	Andhra Pragathi Grameena Bank	8.07	98.57%	0.45%	0.98%	0.04%

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 (Feb'24)

UPI Apps (Feb'24)
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 #	5,760.01	9,15,586.00	0.00	0.00	0.00	0.00	0.00	0.00	5,760.01	9,15,586.00
2	Google Pay #	4,461.29	6,37,219.40	46.83	45.25	0.00	0.00	0.00	0.00	4,508.12	6,37,264.65
3	Paytm #	1,267.27	1,45,305.47	0.17	0.09	0.55	971.93	72.36	13,291.98	1,340.35	1,59,569.47
4	Cred #	111.53	38,649.61	0.00	0.00	0.00	0.00	0.00	0.00	111.53	38,649.61
5	Amazon Pay #	59.71	6,278.02	0.00	0.00	0.00	0.00	0.00	0.00	59.71	6,278.02
6	BHIM	56.16	9,052.16	0.00	0.00	0.00	0.00	0.00	0.00	56.16	9,052.16
7	ICICI Bank Apps	28.95	10,492.15	4.27	416.25	5.69	8,779.07	0.00	0.00	38.92	19,687.47
8	FamPay by Trio #	37.89	432.81	0.00	0.00	0.00	0.00	0.00	0.00	37.89	432.81
9	HDFC Bank Apps	13.51	4,283.81	23.86	71.63	0.00	0.12	0.00	0.00	37.37	4,355.55
10	Kotak Mahindra Bank Apps	31.50	5,127.03	0.00	0.00	0.00	0.00	0.00	0.00	31.50	5,127.03
11	Axis Bank Apps	10.08	2,290.26	20.84	6,427.20	0.01	1.77	0.00	0.00	30.93	8,719.23
12	Whatsapp #	26.76	2,175.12	0.00	0.00	0.00	0.00	0.00	0.00	26.76	2,175.12
13	Yes Bank Apps	21.24	11,308.74	0.00	0.00	0.33	36.07	0.00	0.00	21.57	11,344.81
14	Bajaj Finserv #	19.22	2,984.70	0.00	0.00	0.00	0.00	0.00	0.00	19.22	2,984.70
15	Airtel Payments Bank Apps	14.06	1,028.15	0.00	0.00	0.00	0.17	0.01	0.03	14.07	1,028.35
16	Mobikwik #	6.28	1,793.84	0.00	0.00	0.00	0.00	0.00	0.00	6.28	1,793.84
17	SBI Bank Apps	6.17	2,350.42	0.00	0.00	0.03	1.03	0.00	0.00	6.20	2,351.46
18	Groww #	5.78	3,042.87	0.00	0.00	0.00	0.00	0.00	0.00	5.78	3,042.87
19	Federal Bank Apps	5.74	717.81	0.00	0.00	0.00	0.00	0.00	0.00	5.74	717.81
20	Samsung Pay #	5.61	494.57	0.00	0.00	0.00	0.00	0.00	0.00	5.61	494.57
21	IDFC First Bank Apps	5.54	1,440.44	0.00	0.00	0.00	0.00	0.00	0.00	5.54	1,440.44
22	India Post Payments Bank Apps	5.38	608.29	0.00	0.00	0.00	0.00	0.00	0.00	5.38	608.29
23	Jupiter Money #	5.00	669.43	0.00	0.00	0.00	0.00	0.00	0.00	5.00	669.43
24	Standard Chartered Bank Apps	3.10	675.48	0.00	0.00	0.92	911.82	0.00	0.00	4.02	1,587.30
25	Slice #	3.98	471.27	0.00	0.00	0.00	0.00	0.00	0.00	3.98	471.27
26	Deutsche Bank Apps	3.42	377.59	0.00	0.00	0.00	0.03	0.00	0.00	3.43	377.62
27	RBL Bank Apps	2.62	485.29	0.00	0.01	0.20	88.75	0.00	0.00	2.82	574.05
28	Canara Bank Apps	2.79	745.20	0.00	0.00	0.00	0.00	0.00	0.00	2.79	745.20
29	Freecharge #	1.65	416.00	0.00	0.00	0.00	0.19	0.00	0.00	1.65	416.19
30	Jio Payments Bank Apps	1.64	145.51	0.00	0.00	0.00	0.00	0.00	0.00	1.64	145.51
31	IndusInd Bank Apps	1.46	272.43	0.00	0.00	0.00	0.00	0.00	0.00	1.46	272.43
32	Navi #	1.42	68.62	0.00	0.00	0.00	0.00	0.00	0.00	1.42	68.62
33	Punjab National Bank Apps	1.36	359.72	0.00	0.00	0.00	0.00	0.00	0.00	1.36	359.72
34	Union Bank Of India Apps	1.20	483.59	0.00	0.00	0.00	0.00	0.00	0.00	1.20	483.59
35	Omnicard #	1.15	38.18	0.00	0.00	0.00	0.00	0.00	0.00	1.15	38.18
36	Bank of Baroda Apps	0.76	359.31	0.00	0.00	0.00	9.93	0.00	0.00	0.76	369.24
37	Au Small Finance Bank Apps	0.73	276.63	0.00	0.00	0.00	0.00	0.00	0.00	0.73	276.63
38	Central Bank of India Apps	0.72	165.64	0.00	0.00	0.00	0.00	0.00	0.00	0.72	165.64
39	Kiwi #	0.55	81.25	0.00	0.00	0.00	0.00	0.00	0.00	0.55	81.25
40	DBS Bank Apps	0.54	201.91	0.00	0.00	0.00	0.14	0.00	0.00	0.54	202.06
41	Indian Bank Apps	0.42	112.76	0.00	0.00	0.01	47.33	0.00	0.00	0.42	160.09
42	Timepay #	0.42	3.95	0.00	0.00	0.00	0.00	0.00	0.00	0.42	3.95
43	Karnataka Bank Apps	0.41	85.93	0.00	0.00	0.00	0.00	0.00	0.00	0.41	85.93
44	South Indian Bank Apps	0.36	104.62	0.00	0.00	0.00	0.00	0.00	0.00	0.36	104.62
45	Shri Ram One #	0.35	31.20	0.00	0.00	0.00	0.00	0.00	0.00	0.35	31.20
46	Fino Payments Bank Apps	0.30	38.14	0.00	0.00	0.00	0.00	0.00	0.00	0.30	38.14
47	Bank of India Apps	0.24	91.81	0.00	0.00	0.00	0.00	0.00	0.00	0.24	91.81
48	HSBC Bank Apps	0.21	116.46	0.00	0.06	0.00	0.00	0.00	0.00	0.21	116.52
49	Tata Neu #	0.20	17.14	0.00	0.00	0.00	0.00	0.00	0.00	0.20	17.14
50	Fave #	0.19	36.57	0.00	0.00	0.00	0.00	0.00	0.00	0.19	36.57
51	UCO Bank Apps	0.17	61.26	0.00	0.00	0.00	0.00	0.00	0.00	0.17	61.26
52	Tamilnad Mercantile Bank Apps	0.12	32.14	0.00	0.00	0.00	0.00	0.00	0.00	0.12	32.14
53	Indian Overseas Bank Apps	0.11	29.06	0.00	0.00	0.00	0.00	0.00	0.00	0.11	29.06
54	Digikhata #	0.10	35.77	0.00	0.00	0.00	0.00	0.00	0.00	0.10	35.77
55	LivQuik Apps #	0.09	28.75	0.00	0.00	0.00	0.00	0.00	0.00	0.09	28.75
56	City Union Bank Apps	0.08	24.75	0.00	0.00	0.00	0.00	0.00	0.00	0.08	24.75
57	Citi Bank Apps	0.07	70.14	0.00	0.00	0.00	0.00	0.00	0.00	0.07	70.14
58	IDBI Bank Apps	0.06	32.49	0.00	0.00	0.00	0.00	0.00	0.00	0.06	32.49
59	Dhani #	0.05	3.38	0.00	0.00	0.00	0.00	0.00	0.00	0.05	3.38
60	NSDL Payments Bank Apps	0.05	6.59	0.00	0.00	0.00	0.00	0.00	0.00	0.05	6.59
61	Karur Vysya Bank Apps	0.04	15.42	0.00	0.00	0.00	0.00	0.00	0.00	0.04	15.42
62	Bank of Maharashtra Apps	0.04	7.68	0.00	0.00	0.00	0.00	0.00	0.00	0.04	7.68
63	Equitas Small Apps	0.04	24.46	0.00	0.00	0.00	0.00	0.00	0.00	0.04	24.46
64	Flipkart UPI #	0.03	0.68	0.00	0.00	0.00	0.00	0.00	0.00	0.03	0.68
65	Punjab And Sind Bank Apps	0.02	10.71	0.00	0.00	0.00	0.00	0.00	0.00	0.02	10.71
66	Cheq	0.02	1.54	0.00	0.00	0.00	0.00	0.00	0.00	0.02	1.54
67	Niyo Global #	0.02	4.04	0.00	0.00	0.00	0.00	0.00	0.00	0.02	4.04
68	CBDC	0.83	61.46	0.00	0.00	0.10	2.67	0.00	0.00	0.94	64.13
69	Others	0.03	12.13	0.00	0.00	0.00	2.04	0.00	0.00	0.03	14.17

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)
Feb'24	12,102.68	18,27,869.33	4,742.69	13,48,523.03	7,359.98	4,79,346.31

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 (Feb'24)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	YES BANK LTD	3451.77	94.46%	5.35%	0.19%
2	AXIS BANK LTD.	3208.19	94.73%	5.08%	0.19%
3	ICICI BANK	2400.25	94.67%	5.11%	0.21%
4	PAYTM PAYMENTS BANK	1346.19	93.20%	6.64%	0.17%
5	HDFC BANK LTD	1097.67	95.62%	4.24%	0.15%
6	STATE BANK OF INDIA	1082.21	95.73%	4.17%	0.10%
7	BHIM	60.32	93.11%	6.69%	0.21%
8	TRI O TECH SOLUTIONS PRIVATE LIMITED	37.89	100.00%	0.00%	0.00%
9	KOTAK MAHINDRA BANK	31.70	100.00%	0.00%	0.00%
10	AIRTEL PAYMENTS BANK	14.84	94.71%	5.18%	0.11%
11	RBL Bank	6.26	95.82%	4.04%	0.15%
12	IDFC First Bank	6.02	99.12%	0.87%	0.01%
13	INDIA POST PAYMENT BANK	5.38	99.97%	0.03%	0.00%
14	STANDARD CHARTERED	4.02	100.00%	0.00%	0.00%
15	FEDERAL BANK	3.62	98.80%	1.19%	0.01%

UPI Payee PSP Performance

UPI Payee PSP Performance (Feb'24)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	YES BANK LTD	4134.84	94.69%	5.13%	0.18%
2	PAYTM PAYMENTS BANK	2845.89	95.39%	4.42%	0.19%
3	AXIS BANK LTD.	1914.51	94.32%	5.50%	0.18%
4	ICICI BANK	1386.09	93.81%	6.02%	0.18%
5	STATE BANK OF INDIA	679.60	94.13%	5.72%	0.14%
6	HDFC BANK LTD	636.88	94.95%	4.89%	0.15%
7	FEDERAL BANK	248.51	96.78%	3.05%	0.17%
8	INDUSIND BANK	76.56	94.90%	4.91%	0.19%
9	RBL Bank	48.29	91.36%	8.43%	0.21%
10	COSMOS BANK	44.02	90.24%	9.53%	0.23%
11	BHIM	37.98	96.78%	3.16%	0.07%
12	AIRTEL PAYMENTS BANK	35.36	93.80%	6.03%	0.17%
13	CANARA BANK	31.60	96.56%	3.30%	0.14%
14	KOTAK MAHINDRA BANK	31.35	95.26%	4.53%	0.20%
15	INDIAN BANK	29.93	92.62%	7.16%	0.22%

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 - Feb 24

UPI Merchant Category-wise Classification - Feb'24
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5814	Fast food restaurants
	5812	Eating places and restaurants
	4814	Telecommunication services, including local and long distance calls, credit cardcalls, calls through use of magnetic stripe reading telephones and faxes
	5541	Service stations (with or without ancillary services)
	5311	Department stores
	5816	Digital Goods: Games
	7407	P2PM CHANGES
	5912	Drug stores and pharmacies
	5462	Bakeries
Medium Transacting Categories	4900	Utilities electric, gas, water and sanitary
	5451	Dairies
	6540	Debit card to wallet credit (Wallet top up)
	5813	Drinking places (alcoholic beverages) bars, taverns, night-clubs, cocktail lounges and discothques
	7322	Debt collection agencies
	7622	Electronics repair shops
	5441	Candy, nut and confectionery shops
	5422	Freezer and locker meat provisioners
	6211	Securities brokers and dealers
	5993	Cigar shops and stands
All Other Categories	5732	Electronics shops
	5921	Package shops beer, wine and liquor
	7230	Beauty and barber shops
	5137	Mens, womens and childrens uniforms and commercial clothing
	5399	Miscellaneous general merchandise
	9399	Government services not elsewhere classified
	6012	Financial institutions merchandise and services
	4112	Passenger railways
	4812	Telecommunication equipment and telephone sales
	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 Member Remitter Performance (Jan'24)

UPI Remitter Banks - Top 50 Banks (Jan'24)
Sr. No.	UPI Remitter Banks (Jan-2024)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank Of India	3128.97	95.62%	4.19%	0.19%	11.58	96.85%
2	HDFC BANK LTD	1040.25	96.49%	3.51%	0.00%	3.34	98.84%
3	Bank of Baroda	781.72	95.28%	4.68%	0.04%	2.71	98.54%
4	Union Bank of India	753.66	94.51%	4.34%	1.15%	7.16	46.76%
5	Punjab National Bank	618.95	94.78%	4.95%	0.27%	2.61	88.58%
6	Kotak Mahindra Bank	600.83	93.64%	5.19%	1.17%	2.08	89.49%
7	Canara Bank	572.16	94.18%	5.38%	0.44%	3.02	85.98%
8	Axis Bank Ltd.	559.49	96.11%	3.58%	0.30%	2.66	60.21%
9	ICICI Bank	547.55	96.59%	3.32%	0.08%	1.64	95.72%
10	Paytm Payments Bank	410.06	96.30%	3.70%	0.01%	0.87	98.11%
11	Bank of India	389.29	95.33%	4.59%	0.08%	1.48	91.49%
12	Indian Bank	348.89	95.15%	4.47%	0.37%	1.51	84.37%
13	Airtel Payments Bank	337.05	89.95%	8.98%	1.07%	1.93	69.90%
14	India Post Payment Bank	265.13	82.66%	12.20%	5.14%	1.67	54.81%
15	Federal Bank	185.90	95.53%	4.28%	0.19%	0.65	93.72%
16	Central Bank Of India	178.41	85.44%	9.38%	5.18%	4.29	72.15%
17	Indian Overseas Bank	165.09	94.28%	4.41%	1.31%	0.99	90.36%
18	UCO Bank	152.41	88.37%	7.47%	4.16%	2.33	40.45%
19	IDBI Bank Limited	141.57	92.73%	4.28%	2.98%	1.31	81.40%
20	Bank of Maharashtra	136.29	94.42%	4.61%	0.97%	0.61	76.33%
21	INDUSIND BANK	125.63	93.06%	5.97%	0.97%	0.68	98.66%
22	Fino Payments Bank Limited FIP	115.14	89.66%	9.41%	0.93%	0.63	67.81%
23	Karnataka Bank	97.36	91.93%	7.49%	0.59%	0.42	77.55%
24	Yes Bank Ltd	93.47	94.92%	4.98%	0.10%	0.25	93.00%
25	IDFC FIRST Bank	73.92	94.20%	5.77%	0.03%	0.03	0.00%
26	Karur Vysya Bank	59.56	94.12%	5.54%	0.34%	0.24	92.86%
27	Bandhan Bank	49.22	87.51%	6.16%	6.32%	0.85	68.20%
28	South Indian Bank	48.90	96.35%	3.55%	0.11%	0.14	95.97%
29	Jammu and Kashmir Bank	44.46	91.55%	7.21%	1.24%	0.31	70.87%
30	Ujjivan Small Finance Bank	38.33	92.75%	5.66%	1.59%	0.29	53.05%
31	AU small Finance Bank	37.48	95.19%	4.51%	0.29%	0.17	95.13%
32	Tri O Tech Solutions Private Limited	36.62	100.00%	0.00%	0.00%	NA	NA
33	City Union Bank	35.87	93.46%	6.23%	0.32%	0.13	94.30%
34	Tamilnad Mercantile Bank	32.19	92.76%	6.99%	0.26%	0.11	92.37%
35	Punjab and Sind Bank	30.87	93.14%	6.10%	0.76%	0.20	73.50%
36	Equitas Bank	28.56	93.04%	6.96%	0.00%	0.11	97.83%
37	Standard Chartered	26.21	97.18%	2.33%	0.50%	0.09	77.36%
38	Andhra Pradesh Grameena Vikas Bank	25.95	86.69%	11.80%	1.51%	0.18	49.75%
39	DBS Bank India Limited	24.57	95.78%	4.11%	0.11%	0.09	77.72%
40	Pragathi Krishna Gramin Bank	24.49	81.75%	7.84%	10.41%	0.30	77.98%
41	Kerala Gramin Bank	23.61	90.10%	5.94%	3.96%	0.25	66.77%
42	Maharashtra Gramin Bank	22.84	84.76%	10.98%	4.26%	0.12	58.10%
43	Saraswat Bank	21.62	94.60%	4.52%	0.87%	0.11	62.88%
44	ESAF Small Finance Bank Ltd.	20.91	88.57%	5.06%	6.37%	0.37	63.82%
45	Rajasthan Marudhara Gramin Bank	20.02	88.02%	11.36%	0.63%	0.09	76.77%
46	Baroda UP Gramin Bank	19.44	54.14%	9.55%	36.31%	1.89	27.81%
47	Citibank	19.38	96.67%	3.07%	0.26%	0.07	99.19%
48	Fincare Small Finance Bank Ltd	17.51	86.69%	12.38%	0.92%	0.09	86.11%
49	RBL Bank	15.89	82.78%	5.54%	11.68%	0.16	69.48%
50	Sarva Haryana Gramin Bank	14.96	92.64%	6.89%	0.47%	0.11	60.36%

UPI Top 50 Member Beneficiary Performance (Jan'24)

UPI Beneficiary Banks - Top 50 Banks (Jan'24)
Sr.No.	UPI Beneficiary Banks (Jan-2024)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Paytm Payments Bank	2851.38	99.90%	0.07%	0.03%	0.00%
2	Yes Bank Ltd	2105.87	99.92%	0.04%	0.04%	0.01%
3	State Bank Of India	1306.23	99.64%	0.18%	0.18%	0.04%
4	Axis Bank Ltd.	1008.43	99.76%	0.18%	0.06%	0.10%
5	ICICI Bank	647.71	99.42%	0.54%	0.04%	0.02%
6	HDFC BANK LTD	549.54	98.20%	1.76%	0.04%	0.01%
7	Bank of Baroda	336.93	99.80%	0.17%	0.03%	0.04%
8	Union Bank of India	324.67	99.00%	0.17%	0.84%	0.37%
9	Federal Bank	301.12	99.53%	0.34%	0.13%	0.01%
10	Punjab National Bank	271.75	99.49%	0.38%	0.13%	0.23%
11	Canara Bank	268.36	98.43%	1.30%	0.28%	0.17%
12	Kotak Mahindra Bank	236.42	98.61%	0.47%	0.92%	0.39%
13	Indian Bank	192.09	98.96%	0.77%	0.27%	0.10%
14	Airtel Payments Bank	184.67	99.03%	0.39%	0.58%	0.33%
15	Bank of India	179.80	99.64%	0.25%	0.11%	0.04%
16	INDUSIND BANK	129.00	98.83%	0.54%	0.62%	0.10%
17	India Post Payment Bank	113.35	98.17%	0.38%	1.45%	0.16%
18	Central Bank Of India	85.35	96.53%	0.50%	2.97%	1.21%
19	Indian Overseas Bank	76.93	98.86%	0.39%	0.75%	0.28%
20	UCO Bank	73.44	96.13%	0.63%	3.24%	0.65%
21	RBL	62.06	92.29%	0.36%	7.35%	0.26%
22	IDBI Bank Limited	62.06	97.83%	0.43%	1.74%	0.40%
23	Bank of Maharashtra	53.88	98.92%	0.24%	0.84%	0.14%
24	Fino Payments Bank Limited FIP	45.27	97.49%	1.88%	0.62%	0.07%
25	Karnataka Bank	41.79	98.66%	0.81%	0.54%	0.08%
26	IDFC First Bank	38.32	97.78%	2.04%	0.18%	0.04%
27	Karur Vysya Bank	31.32	98.42%	1.32%	0.25%	0.04%
28	South Indian Bank	31.07	96.63%	3.23%	0.15%	0.02%
29	Bandhan Bank	28.56	94.91%	0.24%	4.85%	0.46%
30	AU small Finance Bank	26.21	96.53%	3.24%	0.23%	0.04%
31	Tamilnad Mercantile Bank	20.54	99.60%	0.16%	0.24%	0.02%
32	Ujjivan Small Finance Bank	19.40	98.06%	0.85%	1.09%	0.41%
33	City Union Bank	18.79	97.08%	2.67%	0.25%	0.03%
34	Jammu and Kashmir Bank	18.46	99.06%	0.60%	0.35%	0.14%
35	Tri O Tech Solutions Private Limited	17.98	95.28%	4.12%	0.60%	0.26%
36	Kerala Gramin Bank	14.38	89.31%	0.24%	10.46%	0.88%
37	Punjab and Sind Bank	13.75	98.14%	1.24%	0.62%	0.62%
38	Pragathi Krishna Gramin Bank	13.28	84.28%	0.32%	15.40%	0.47%
39	Equitas Bank	12.96	97.83%	2.03%	0.13%	0.01%
40	Andhra Pradesh Grameena Vikas Bank	12.56	97.08%	1.26%	1.66%	0.28%
41	ONE MOBIKWIK SYSTEMS LIMITED	11.31	99.99%	0.00%	0.01%	0.00%
42	Maharashtra Gramin Bank	10.74	96.11%	0.28%	3.62%	0.33%
43	ESAF Small Finance Bank Ltd.	10.37	95.16%	0.13%	4.71%	0.58%
44	DBS Bank India Limited	10.30	98.38%	1.56%	0.06%	0.06%
45	Baroda UP Gramin Bank	10.21	71.46%	0.61%	27.93%	8.74%
46	CITI	10.02	99.87%	0.00%	0.13%	0.20%
47	Rajasthan Marudhara Gramin Bank	9.82	99.41%	0.30%	0.29%	0.10%
48	Jio Payments Bank	9.12	99.33%	0.31%	0.36%	0.31%
49	Fincare Small Finance Bank Ltd	7.98	95.71%	2.71%	1.57%	0.04%
50	Andhra Pragathi Grameena Bank	7.85	98.04%	0.47%	1.49%	0.22%

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 (Jan'24)

UPI Apps (Jan'24)
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	5734.54	9,06,793.76	0.00	0.00	0.00	0.00	0.00	0.00	5734.54	9,06,793.76
2	Google Pay	4442.86	6,35,945.58	0.00	0.00	0.00	0.00	0.00	0.00	4442.86	6,35,945.58
3	Paytm Payments Bank App	1442.41	1,64,333.33	3.98	8.32	0.72	1291.06	122.53	26,982.03	1569.63	1,92,614.74
4	Cred	108.86	38,229.82	0.00	0.00	0.00	0.00	0.00	0.00	108.86	38,229.82
5	Axis Bank Apps	13.31	2,775.63	66.84	2943.22	0.02	2.72	0.00	0.00	80.17	5,721.57
6	Amazon Pay	59.48	6,288.95	0.00	0.00	0.00	0.00	0.00	0.00	59.48	6,288.95
7	ICICI Bank Apps	28.93	12,995.05	4.68	527.09	7.01	10593.84	0.00	0.00	40.62	24,115.98
8	FAM	36.62	418.33	0.00	0.00	0.00	0.00	0.00	0.00	36.62	418.33
9	HDFC Bank Apps	25.05	5,458.04	5.92	17.83	0.00	0.08	0.00	0.00	30.98	5,475.95
10	BHIM	29.98	8,778.61	0.00	0.00	0.00	0.00	0.00	0.00	29.98	8,778.61
11	Kotak Mahindra Bank Apps	28.24	4,981.01	0.00	0.00	0.00	0.00	0.00	0.00	28.24	4,981.01
12	WhatsApp	26.08	2,132.83	0.00	0.00	0.00	0.00	0.00	0.00	26.08	2,132.83
13	Yes Bank Apps	23.01	11,585.54	0.00	0.00	0.27	33.23	0.00	0.00	23.28	11,618.77
14	Bajaj Finserv	19.87	2,737.66	0.00	0.00	0.00	0.00	0.00	0.00	19.87	2,737.66
15	Airtel Payments Bank Apps	13.24	902.32	0.00	0.00	0.00	0.08	0.00	0.03	13.24	902.43
16	Groww	9.41	6,540.35	0.00	0.00	0.00	0.00	0.00	0.00	9.41	6,540.35
17	State Bank of India Apps	6.10	2,425.87	0.00	0.00	0.03	0.87	0.00	0.00	6.13	2,426.73
18	Samsung Pay	5.73	518.32	0.00	0.00	0.00	0.00	0.00	0.00	5.73	518.32
19	IDFC Bank Apps	5.47	1,448.50	0.00	0.00	0.00	0.00	0.00	0.00	5.47	1,448.50
20	Federal Bank Apps	5.33	674.05	0.00	0.00	0.00	0.00	0.00	0.00	5.33	674.05
21	Mobikwik	5.19	1,625.48	0.00	0.00	0.00	0.00	0.00	0.00	5.19	1,625.48
22	Jupiter	4.97	665.54	0.00	0.00	0.00	0.00	0.00	0.00	4.97	665.54
23	India Post Payments Bank Apps	4.69	461.95	0.00	0.00	0.00	0.00	0.00	0.00	4.69	461.95
24	Deutsche Bank Apps	3.89	294.60	0.00	0.00	0.00	0.03	0.00	0.00	3.89	294.63
25	Standard Chartered Bank Apps	2.61	195.77	0.00	0.00	1.07	550.69	0.00	0.00	3.68	746.46
26	RBL Bank Apps	3.15	739.53	0.00	0.03	0.20	46.97	0.00	0.00	3.35	786.52
27	Canara Bank Apps	2.62	758.31	0.00	0.00	0.00	0.00	0.00	0.00	2.62	758.31
28	slice	2.01	407.98	0.00	0.00	0.00	0.00	0.00	0.00	2.01	407.98
29	Jio Payments Bank Apps	1.51	137.62	0.00	0.00	0.00	0.00	0.00	0.00	1.51	137.62
30	Punjab National Bank Apps	1.32	335.60	0.00	0.00	0.00	0.00	0.00	0.00	1.32	335.60
31	Indian Bank Apps	1.29	311.48	0.00	0.00	0.00	10.91	0.00	0.00	1.29	322.39
32	SLICE	1.26	41.97	0.00	0.00	0.00	0.00	0.00	0.00	1.26	41.97
33	Omnicard	1.15	37.16	0.00	0.00	0.00	0.00	0.00	0.00	1.15	37.16
34	Bank of Baroda Apps	1.14	505.93	0.00	0.00	0.00	10.66	0.00	0.00	1.14	516.58
35	Union Bank Apps	1.11	451.70	0.00	0.00	0.00	0.00	0.00	0.00	1.11	451.70
36	Navi	0.96	54.50	0.00	0.00	0.00	0.00	0.00	0.00	0.96	54.50
37	Gokiwi	0.74	105.76	0.00	0.00	0.00	0.00	0.00	0.00	0.74	105.76
38	DBS Digibank Apps	0.70	252.85	0.00	0.00	0.00	1.80	0.00	0.00	0.70	254.66
39	Karnataka Bank Apps	0.67	144.11	0.00	0.00	0.00	0.00	0.00	0.00	0.67	144.11
40	AU Small Finance Bank Apps	0.66	259.49	0.00	0.00	0.00	0.00	0.00	0.00	0.66	259.49
41	Central Bank of India Apps	0.63	150.41	0.00	0.00	0.00	0.00	0.00	0.00	0.63	150.41
42	Shriram One	0.59	31.86	0.00	0.00	0.00	0.00	0.00	0.00	0.59	31.86
43	FIFEDERAL	0.47	57.15	0.00	0.00	0.00	0.00	0.00	0.00	0.47	57.15
44	BPAYWALLET	0.43	88.49	0.00	0.00	0.00	0.00	0.00	0.00	0.43	88.49
45	MBK	0.39	57.77	0.00	0.00	0.00	0.00	0.00	0.00	0.39	57.77
46	South Indian Bank Apps	0.33	105.23	0.00	0.00	0.00	0.00	0.00	0.00	0.33	105.23
47	Bank of India Apps	0.29	108.18	0.00	0.00	0.00	0.00	0.00	0.00	0.29	108.18
48	Fino Payments bank Apps	0.29	31.67	0.00	0.00	0.00	0.00	0.00	0.00	0.29	31.67
49	INDIE - Indus Ind	0.25	42.84	0.00	0.00	0.00	0.00	0.00	0.00	0.25	42.84
50	UCO Bank Apps	0.21	76.62	0.00	0.00	0.00	0.00	0.00	0.00	0.21	76.62
51	HSBC Bank Apps	0.20	117.97	0.00	0.03	0.00	0.00	0.00	0.00	0.20	118.00
52	Tamilnad Mercantile Bank Apps	0.12	32.85	0.00	0.00	0.00	0.00	0.00	0.00	0.12	32.85
53	Indian Overseas Bank Apps	0.11	29.92	0.00	0.00	0.00	0.00	0.00	0.00	0.11	29.92
54	Ultracash	0.08	5.95	0.00	0.00	0.00	0.00	0.00	0.00	0.08	5.95
55	Citi Bank Apps	0.08	79.39	0.00	0.00	0.00	0.00	0.00	0.00	0.08	79.39
56	Digikhata	0.08	30.34	0.00	0.00	0.00	0.00	0.00	0.00	0.08	30.34
57	TataNeu	0.08	11.48	0.00	0.00	0.00	0.00	0.00	0.00	0.08	11.48
58	City Union Bank Apps	0.08	25.49	0.00	0.00	0.00	0.00	0.00	0.00	0.08	25.49
59	IDBI Bank Apps	0.08	42.31	0.00	0.00	0.00	0.00	0.00	0.00	0.08	42.31
60	Jupiter Edge (LivQuick PPI)	0.05	14.71	0.00	0.00	0.00	0.00	0.00	0.00	0.05	14.71
61	Karur Vysya Bank Apps	0.04	15.23	0.00	0.00	0.00	0.00	0.00	0.00	0.04	15.23
62	NSDL Payments Bank Apps	0.04	5.77	0.00	0.00	0.00	0.00	0.00	0.00	0.04	5.77
63	Bank of Maharashtra Apps	0.04	8.06	0.00	0.00	0.00	0.00	0.00	0.00	0.04	8.06
64	DHANI	0.04	2.71	0.00	0.00	0.00	0.00	0.00	0.00	0.04	2.71
65	PAYTMWALLET	0.03	3.11	0.00	0.00	0.00	0.00	0.00	0.00	0.03	3.11
66	MakeMyTrip	0.03	15.48	0.00	0.00	0.00	0.00	0.00	0.00	0.03	15.48
67	Equitas Small Finance Bank Apps	0.03	23.19	0.00	0.00	0.00	0.00	0.00	0.00	0.03	23.19
68	Timepay	0.03	0.33	0.00	0.00	0.00	0.00	0.00	0.00	0.03	0.33
69	Allahabad Bank Apps	0.03	6.51	0.00	0.00	0.00	0.00	0.00	0.00	0.03	6.51
70	Other Apps	0.13	31.46	0.00	0.00	0.00	0.00	0.00	0.00	0.13	31.46
71	CBDC Apps	0.80	46.45	0.00	0.00	0.07	1.63	0.00	0.00	0.88	48.08

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)
Jan'24	12,203.02	18,41,083.97	4,753.09	13,40,323.61	7,449.93	5,00,760.37

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 (Jan'24)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	YES BANK LTD	3419.78	94.65%	5.21%	0.15%
2	AXIS BANK LTD.	3183.17	94.91%	4.93%	0.16%
3	ICICI BANK	2320.91	94.82%	4.99%	0.19%
4	PAYTM PAYMENTS BANK	1543.98	93.73%	6.12%	0.16%
5	HDFC BANK LTD	1146.07	95.81%	4.07%	0.12%
6	STATE BANK OF INDIA	1088.91	95.73%	4.18%	0.09%
7	TRI O TECH SOLUTIONS PRIVATE LIMITED	36.62	100.00%	0.00%	0.00%
8	BHIM	31.82	94.20%	5.67%	0.14%
9	KOTAK MAHINDRA BANK	28.42	100.00%	0.00%	0.00%
10	AIRTEL PAYMENTS BANK	14.13	93.67%	6.22%	0.11%
11	RBL Bank	6.46	96.06%	3.81%	0.13%
12	IDFC First Bank	5.77	99.21%	0.78%	0.01%
13	FEDERAL BANK	5.42	98.44%	1.55%	0.01%
14	INDIA POST PAYMENT BANK	4.69	99.98%	0.02%	0.00%
15	DEUTSCHE BANK CORP	3.87	100.00%	0.00%	0.00%

UPI Payee PSP Performance

UPI Payee PSP Performance (Jan'24)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	YES BANK LTD	4044.35	94.81%	5.04%	0.15%
2	PAYTM PAYMENTS BANK	3141.54	95.68%	4.17%	0.15%
3	AXIS BANK LTD.	1696.08	94.20%	5.63%	0.17%
4	ICICI BANK	1408.71	93.92%	5.92%	0.16%
5	STATE BANK OF INDIA	637.86	94.43%	5.44%	0.13%
6	HDFC BANK LTD	627.74	95.04%	4.84%	0.12%
7	FEDERAL BANK	231.87	96.82%	3.04%	0.14%
8	INDUSIND BANK	69.20	95.19%	4.68%	0.14%
9	RBL Bank	56.69	90.97%	8.80%	0.23%
10	COSMOS BANK	43.80	90.19%	9.60%	0.20%
11	KOTAK MAHINDRA BANK	28.77	95.25%	4.61%	0.14%
12	INDIAN BANK	29.15	92.06%	7.72%	0.22%
13	CANARA BANK	27.55	96.63%	3.26%	0.11%
14	AIRTEL PAYMENTS BANK	25.58	93.62%	6.22%	0.16%
15	TRI O TECH SOLUTIONS PRIVATE LIMITED	18.29	93.24%	6.52%	0.24%

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 - Jan 24

UPI Merchant Category-wise Classification - Jan'24
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5814	Fast food restaurants
	5812	Eating places and restaurants
	4814	Telecommunication services, including local and long distance calls, credit cardcalls, calls through use of magnetic stripe reading telephones and faxes
	5541	Service stations (with or without ancillary services)
	5311	Department stores
	5816	Digital Goods: Games
	7407	P2PM CHANGES
	5912	Drug stores and pharmacies
	5462	Bakeries
Medium Transacting Categories	4900	Utilities electric, gas, water and sanitary
	5451	Dairies
	6540	Debit card to wallet credit (Wallet top up)
	7299	Miscellaneous personal services not elsewhere classified
	5499	Miscellaneous food shops convenience and speciality retail outlets
	5813	Drinking places (alcoholic beverages) bars, taverns, night-clubs, cocktail lounges and discothques
	7322	Debt collection agencies
	6211	Securities brokers and dealers
	5422	Freezer and locker meat provisioners
	5137	Mens, womens and childrens uniforms and commercial clothing
All Other Categories	5441	Candy, nut and confectionery shops
	5732	Electronics shops
	6012	Financial institutions merchandise and services
	9399	Government services not elsewhere classified
	7230	Beauty and barber shops
	5399	Miscellaneous general merchandise
	5921	Package shops beer, wine and liquor
	4112	Passenger railways
	5691	Mens and womens clothing shops
	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 Member Remitter Performance (Dec'23)

UPI Remitter Banks - Top 50 Banks (Dec'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	3073.18	95.23%	4.34%	0.43%	12.75	83.74%
2	HDFC BANK LTD	1040.77	96.50%	3.44%	0.06%	3.63	97.57%
3	Bank of Baroda	766.81	94.55%	4.94%	0.51%	3.30	87.02%
4	Union Bank of India	745.87	94.86%	4.38%	0.76%	5.38	59.66%
5	Punjab National Bank	607.36	95.25%	4.59%	0.17%	2.35	97.94%
6	Kotak Mahindra Bank	588.94	94.40%	5.11%	0.49%	2.47	68.44%
7	Canara Bank	563.67	94.26%	5.38%	0.37%	2.43	86.37%
8	Axis Bank Ltd.	562.18	96.43%	3.57%	0.01%	1.67	87.70%
9	ICICI Bank	556.61	96.39%	3.28%	0.33%	2.06	82.59%
10	Paytm Payments Bank	410.19	96.37%	3.63%	0.00%	0.79	97.55%
11	Bank of India	384.87	95.78%	4.03%	0.18%	1.47	86.96%
12	Indian Bank	338.76	95.28%	4.52%	0.20%	1.19	90.68%
13	Airtel Payments Bank	320.02	88.41%	8.15%	3.43%	3.34	0.00%
14	India Post Payment Bank	247.32	82.43%	11.85%	5.72%	2.43	32.30%
15	Federal Bank	184.64	95.56%	4.34%	0.10%	0.49	98.15%
16	Central Bank Of India	177.99	86.46%	11.95%	1.59%	1.98	82.45%
17	Indian Overseas Bank	160.68	93.86%	4.42%	1.72%	1.06	91.36%
18	UCO Bank	147.86	94.38%	5.06%	0.56%	0.70	68.51%
19	IDBI Bank Limited	139.37	94.99%	3.80%	1.21%	0.84	90.96%
20	Bank of Maharashtra	133.33	94.32%	4.68%	1.00%	0.57	75.93%
21	INDUSIND BANK	120.30	92.92%	6.12%	0.97%	0.76	88.04%
22	Fino Payments Bank Limited FIP	107.84	90.01%	8.54%	1.45%	0.49	71.76%
23	Yes Bank Ltd	97.36	95.39%	4.51%	0.10%	0.22	96.73%
24	Karnataka Bank	96.35	92.95%	5.48%	1.57%	0.54	52.69%
25	IDFC FIRST Bank	75.11	93.58%	6.38%	0.04%	0.25	90.45%
26	Karur Vysya Bank	58.61	93.73%	5.71%	0.56%	0.29	97.83%
27	South Indian Bank	48.80	96.11%	3.82%	0.08%	0.12	97.34%
28	Jammu and Kashmir Bank	48.75	69.74%	25.78%	4.48%	0.65	13.43%
29	Bandhan Bank	47.39	92.57%	6.71%	0.72%	0.20	98.39%
30	Ujjivan Small Finance Bank	36.67	93.65%	5.57%	0.78%	0.19	68.80%
31	AU small Finance Bank	36.18	94.68%	4.30%	1.02%	0.26	99.01%
32	City Union Bank	34.96	93.56%	6.10%	0.34%	0.11	94.31%
33	Tri O Tech Solutions Private Limited	34.24	100.00%	0.00%	0.00%	NA	NA
34	Punjab and Sind Bank	31.50	89.74%	6.25%	4.01%	0.57	24.84%
35	Tamilnad Mercantile Bank	30.97	94.34%	5.15%	0.51%	0.12	89.05%
36	Equitas Bank	28.13	93.09%	6.89%	0.02%	0.10	97.07%
37	Standard Chartered	27.13	95.82%	2.10%	2.08%	0.19	48.75%
38	Kerala Gramin Bank	25.29	93.63%	6.11%	0.27%	0.08	92.04%
39	DBS Bank India Limited	24.94	95.90%	4.08%	0.02%	0.08	78.43%
40	Andhra Pradesh Grameena Vikas Bank	24.85	88.05%	10.56%	1.39%	0.10	76.31%
41	Pragathi Krishna Gramin Bank	23.88	91.21%	8.32%	0.46%	0.11	88.68%
42	Maharashtra Gramin Bank	22.04	85.60%	10.75%	3.65%	0.09	67.31%
43	Saraswat Bank	21.70	94.44%	4.88%	0.68%	0.09	67.20%
44	Baroda UP Gramin Bank	20.77	51.12%	9.10%	39.78%	2.65	12.92%
45	Citibank	20.47	96.75%	3.06%	0.19%	0.07	98.45%
46	ESAF Small Finance Bank Ltd.	19.79	94.55%	5.13%	0.31%	0.08	93.77%
47	HDFC Bank Credit Card HCB	19.02	94.17%	5.61%	0.21%	0.16	97.49%
48	Rajasthan Marudhara Gramin Bank	18.75	87.95%	10.82%	1.23%	0.09	69.57%
49	Fincare Small Finance Bank Ltd	16.01	87.76%	11.47%	0.76%	0.07	92.37%
50	RBL Bank	14.97	80.11%	6.09%	13.80%	0.25	39.77%

UPI Top 50 Member Beneficiary Performance (Dec'23)

UPI Beneficiary Banks - Top 50 Banks (Dec'23)
Sr.No.	UPI Beneficiary Banks (Sep-2023)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Paytm Payments Bank	2835.27	99.90%	0.07%	0.03%	0.00%
2	Yes Bank Ltd	2269.48	99.95%	0.04%	0.01%	0.00%
3	State Bank Of India	1252.21	99.50%	0.19%	0.30%	0.07%
4	Axis Bank Ltd.	967.52	99.90%	0.09%	0.01%	0.01%
5	ICICI Bank	647.97	99.36%	0.48%	0.16%	0.07%
6	HDFC BANK LTD	549.41	97.80%	2.13%	0.06%	0.05%
7	Bank of Baroda	333.64	99.32%	0.25%	0.43%	0.13%
8	Union Bank of India	326.55	99.49%	0.19%	0.33%	0.26%
9	Federal Bank	291.79	99.65%	0.29%	0.06%	0.00%
10	Punjab National Bank	270.17	99.41%	0.51%	0.08%	0.11%
11	Canara Bank	268.75	99.06%	0.67%	0.27%	0.12%
12	Kotak Mahindra Bank	233.06	99.28%	0.46%	0.26%	0.22%
13	Indian Bank	182.11	98.93%	0.67%	0.40%	0.04%
14	Bank of India	179.90	99.58%	0.24%	0.17%	0.08%
15	Airtel Payments Bank	174.41	97.63%	0.43%	1.94%	0.59%
16	INDUSIND BANK	135.25	99.07%	0.34%	0.59%	0.50%
17	India Post Payment Bank	108.03	96.76%	0.37%	2.87%	0.25%
18	Central Bank Of India	85.35	98.70%	0.51%	0.80%	0.45%
19	Indian Overseas Bank	75.21	98.44%	0.32%	1.23%	0.50%
20	UCO Bank	73.18	98.84%	0.68%	0.48%	0.11%
21	IDBI Bank Limited	62.13	98.98%	0.43%	0.59%	0.15%
22	RBL Bank	55.75	91.43%	0.30%	8.27%	0.41%
23	Bank of Maharashtra	52.68	98.84%	0.28%	0.88%	0.15%
24	Fino Payments Bank Limited	50.18	97.67%	1.33%	1.00%	0.05%
25	IDFC FIRST Bank	47.49	98.43%	1.53%	0.04%	0.03%
26	Karnataka Bank	42.03	98.09%	0.54%	1.37%	0.23%
27	South Indian Bank	31.89	99.52%	0.41%	0.07%	0.01%
28	Karur Vysya Bank	31.85	98.07%	1.58%	0.35%	0.04%
29	Bandhan Bank	28.20	98.57%	0.43%	1.00%	0.00%
30	AU small Finance Bank	24.92	96.89%	2.38%	0.73%	0.36%
31	Tamilnad Mercantile Bank	19.90	99.35%	0.19%	0.47%	0.03%
32	Ujjivan Small Finance Bank	19.06	98.60%	0.82%	0.59%	0.26%
33	City Union Bank	18.56	98.56%	1.13%	0.31%	0.05%
34	Jammu and Kashmir Bank	17.46	97.22%	0.37%	2.41%	1.04%
35	Tri O Tech Solutions Private Limited	16.54	95.50%	4.49%	0.01%	0.00%
36	Kerala Gramin Bank	14.38	99.62%	0.25%	0.12%	0.15%
37	Punjab and Sind Bank	14.18	97.23%	0.45%	2.32%	0.95%
38	Equitas Bank	12.95	97.93%	1.91%	0.15%	0.01%
39	Pragathi Krishna Gramin Bank	12.34	99.42%	0.42%	0.17%	0.20%
40	Andhra Pradesh Grameena Vikas Bank	11.92	98.71%	0.97%	0.32%	0.07%
41	Baroda UP Gramin Bank	10.80	71.76%	0.67%	27.57%	10.95%
42	Maharashtra Gramin Bank	10.40	96.73%	0.28%	2.99%	0.17%
43	DBS Bank India Limited	10.08	98.53%	1.44%	0.03%	0.03%
44	ESAF Small Finance Bank Ltd.	10.01	99.62%	0.13%	0.24%	0.11%
45	Rajasthan Marudhara Gramin Bank	9.36	98.92%	0.50%	0.58%	0.10%
46	ONE MOBIKWIK SYSTEMS LIMITED	8.95	99.65%	0.00%	0.35%	0.01%
47	Andhra Pragathi Grameena Bank	7.80	95.75%	1.02%	3.22%	0.18%
48	Saraswat Bank	7.54	99.25%	0.19%	0.56%	0.18%
49	CITI Bank	7.31	99.82%	0.00%	0.18%	0.22%
50	Fincare Small Finance Bank Ltd	7.26	95.90%	1.92%	2.17%	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 (Dec'23)

UPI Apps (Dec'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	5642.66	9,01,006.65	0.00	0.00	0.00	0.00	0.00	0.00	5642.66	9,01,006.65
2	Google Pay	4375.29	6,29,285.36	0.00	0.00	0.00	0.00	0.00	0.00	4375.29	6,29,285.36
3	Paytm Payments Bank App	1442.58	1,65,694.96	4.38	8.39	0.75	1342.34	125.89	24,510.03	1573.61	1,91,555.71
4	Cred	105.31	37,293.27	0.00	0.00	0.00	0.00	0.00	0.00	105.31	37,293.27
5	Axis Bank Apps	13.29	2,657.21	73.58	3439.12	0.03	3.68	0.00	0.00	86.90	6,100.01
6	Amazon Pay	54.16	5,982.84	0.00	0.00	0.00	0.00	0.00	0.00	54.16	5,982.84
7	ICICI Bank Apps	28.73	11,167.31	4.46	534.86	6.90	9182.39	0.00	0.00	40.09	20,884.56
8	Fampay	34.23	392.53	0.00	0.00	0.00	0.00	0.00	0.00	34.23	392.53
9	Yes Bank Apps	27.99	12,305.58	0.00	0.00	0.37	63.28	0.00	0.00	28.37	12,368.87
10	Kotak Mahindra Bank Apps	26.36	4,738.20	0.00	0.00	0.00	0.00	0.00	0.00	26.36	4,738.20
11	WhatsApp	25.25	2,113.01	0.00	0.00	0.00	0.00	0.00	0.00	25.25	2,113.01
12	BHIM	24.30	8,431.47	0.00	0.00	0.00	0.00	0.00	0.00	24.30	8,431.47
13	HDFC Bank Apps	23.68	6,095.52	0.00	0.00	0.00	0.03	0.00	0.00	23.68	6,095.54
14	Bajaj Finserv	18.08	2,580.43	0.00	0.00	0.00	0.00	0.00	0.00	18.08	2,580.43
15	Airtel Payments Bank Apps	12.26	851.64	0.00	0.00	0.00	0.00	0.28	31.71	12.54	883.36
16	Groww	6.58	4,039.81	0.00	0.00	0.00	0.00	0.00	0.00	6.58	4,039.81
17	State Bank of India Apps	6.13	2,362.05	0.00	0.00	0.03	0.85	0.00	0.00	6.16	2,362.90
18	Samsung Pay	6.08	557.26	0.00	0.00	0.00	0.00	0.00	0.00	6.08	557.26
19	Federal Bank Apps	5.95	745.40	0.00	0.00	0.00	0.01	0.00	0.00	5.95	745.41
20	IDFC Bank Apps	5.24	1,306.50	0.00	0.00	0.00	0.00	0.00	0.00	5.24	1,306.50
21	Mobikwik	4.95	1,580.30	0.00	0.00	0.00	0.00	0.00	0.00	4.95	1,580.30
22	India Post Payments Bank Apps	4.87	454.50	0.00	0.00	0.00	0.00	0.00	0.00	4.87	454.50
23	Jupiter	4.86	656.67	0.00	0.00	0.00	0.00	0.00	0.00	4.86	656.67
24	Deutsche Bank Apps	3.71	223.34	0.00	0.00	0.00	0.03	0.00	0.00	3.71	223.36
25	Standard Chartered Bank Apps	3.17	249.27	0.00	0.00	0.47	157.36	0.00	0.00	3.63	406.63
26	Canara Bank Apps	2.55	719.50	0.00	0.00	0.00	0.00	0.00	0.00	2.55	719.50
27	RBL Bank Apps	1.93	697.43	0.00	0.01	0.21	55.79	0.00	0.00	2.14	753.23
28	slice	1.96	403.07	0.00	0.00	0.00	0.00	0.00	0.00	1.96	403.07
29	Jio Payments Bank Apps	1.35	125.06	0.00	0.00	0.00	0.00	0.00	0.00	1.35	125.06
30	Punjab National Bank Apps	1.26	276.47	0.00	0.00	0.00	0.00	0.00	0.00	1.26	276.47
31	Omnicard	1.16	36.26	0.00	0.00	0.00	0.00	0.00	0.00	1.16	36.26
32	Bank of Baroda Apps	1.05	453.40	0.00	0.00	0.00	10.68	0.00	0.00	1.05	464.08
33	IndusInd Bank Apps	1.05	203.58	0.00	0.00	0.00	0.00	0.00	0.00	1.05	203.58
34	Union Bank Apps	1.02	405.74	0.00	0.00	0.00	0.00	0.00	0.00	1.02	405.74
35	SLICE	0.95	32.65	0.00	0.00	0.00	0.00	0.00	0.00	0.95	32.65
36	DBS Digibank Apps	0.78	245.47	0.00	0.00	0.00	1.47	0.00	0.00	0.79	246.94
37	GoKiwi	0.77	104.27	0.00	0.00	0.00	0.00	0.00	0.00	0.77	104.27
38	Karnataka Bank Apps	0.72	144.87	0.00	0.00	0.00	0.01	0.00	0.00	0.72	144.89
39	Navi	0.69	43.86	0.00	0.00	0.00	0.00	0.00	0.00	0.69	43.86
40	AU Small Finance Bank Apps	0.68	252.89	0.00	0.00	0.00	0.00	0.00	0.00	0.68	252.89
41	Central Bank of India Apps	0.58	136.84	0.00	0.00	0.00	0.00	0.00	0.00	0.58	136.84
42	Indian Bank Apps	0.40	98.27	0.00	0.00	0.00	8.79	0.00	0.00	0.40	107.06
43	Shriram One	0.33	19.47	0.00	0.00	0.00	0.00	0.00	0.00	0.33	19.47
44	Bajaj Pay Wallet	0.32	72.38	0.00	0.00	0.00	0.00	0.00	0.00	0.32	72.38
45	South Indian Bank Apps	0.30	86.96	0.00	0.00	0.00	0.00	0.00	0.00	0.30	86.96
46	Bank of India Apps	0.29	103.82	0.00	0.00	0.00	0.00	0.00	0.00	0.29	103.82
47	UCO Bank Apps	0.29	94.81	0.00	0.00	0.00	0.00	0.00	0.00	0.29	94.81
48	Mobikwik	0.28	38.53	0.00	0.00	0.00	0.00	0.00	0.00	0.28	38.53
49	Fino Payments bank Apps	0.27	26.70	0.00	0.00	0.00	0.00	0.00	0.00	0.27	26.70
50	INDIE - Indus Ind	0.20	35.32	0.00	0.00	0.00	0.00	0.00	0.00	0.20	35.32
51	HSBC Bank Apps	0.20	123.63	0.00	0.08	0.00	0.00	0.00	0.00	0.20	123.70
52	Tamilnad Mercantile Bank Apps	0.11	31.47	0.00	0.00	0.00	0.00	0.00	0.00	0.11	31.47
53	Indian Overseas Bank Apps	0.11	27.85	0.00	0.00	0.00	0.00	0.00	0.00	0.11	27.85
54	Ultracash	0.08	5.06	0.00	0.00	0.00	0.00	0.00	0.00	0.08	5.06
55	TataNeu	0.08	10.49	0.00	0.00	0.00	0.00	0.00	0.00	0.08	10.49
56	IDBI Bank Apps	0.07	38.61	0.00	0.00	0.00	0.00	0.00	0.00	0.07	38.61
57	City Union Bank Apps	0.07	22.76	0.00	0.00	0.00	0.00	0.00	0.00	0.07	22.76
58	DIGIKHATA	0.07	25.80	0.00	0.00	0.00	0.00	0.00	0.00	0.07	25.80
59	PAYTMWALLET	0.07	4.53	0.00	0.00	0.00	0.00	0.00	0.00	0.07	4.53
60	Citi Bank Apps	0.07	70.44	0.00	0.00	0.00	0.00	0.00	0.00	0.07	70.44
61	Fave	0.06	4.28	0.00	0.00	0.00	0.00	0.00	0.00	0.06	4.28
62	FIFEDERAL	0.05	7.12	0.00	0.00	0.00	0.00	0.00	0.00	0.05	7.12
63	Bank of Maharashtra Apps	0.04	8.10	0.00	0.00	0.00	0.00	0.00	0.00	0.04	8.10
64	MakeMyTrip	0.04	22.20	0.00	0.00	0.00	0.00	0.00	0.00	0.04	22.20
65	NSDL Payments Bank Apps	0.04	6.36	0.00	0.00	0.00	0.00	0.00	0.00	0.04	6.36
66	Karur Vysya Bank Apps	0.04	13.69	0.00	0.00	0.00	0.00	0.00	0.00	0.04	13.69
67	Equitas Small Finance Bank Apps	0.03	21.86	0.00	0.00	0.00	0.00	0.00	0.00	0.03	21.86
68	Allahabad Bank Apps	0.03	7.01	0.00	0.00	0.00	0.00	0.00	0.00	0.03	7.01
69	DHANI	0.03	2.01	0.00	0.00	0.00	0.00	0.00	0.00	0.03	2.01
70	CBDC Apps	0.72	25.12	0.00	0.00	0.05	0.80	0.00	0.00	0.77	25.91
71	Other	0.12	38.33	0.00	0.00	0.00	0.00	0.00	0.00	0.12	38.33

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)
Dec'23	12,020.23	18,22,949.42	4,754.79	13,47,696.13	7,265.44	4,75,253.29

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 (Dec'23)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	YES BANK LTD	3445.89	94.66%	5.22%	0.12%
2	AXIS BANK LTD.	3095.94	94.93%	4.95%	0.12%
3	ICICI BANK	2325.23	94.83%	5.04%	0.13%
4	PAYTM PAYMENTS BANK	1542.33	93.87%	6.00%	0.13%
5	HDFC BANK LTD	1124.24	95.79%	4.12%	0.09%
6	STATE BANK OF INDIA	990.39	95.58%	4.36%	0.06%
7	TRI O TECH SOLUTIONS PRIVATE LIMITED	34.24	100.00%	0.00%	0.00%
8	KOTAK MAHINDRA BANK	26.48	100.00%	0.00%	0.00%
9	BHIM	25.74	94.40%	5.47%	0.13%
10	AIRTEL PAYMENTS BANK	13.24	92.57%	7.35%	0.09%
11	FEDERAL BANK	6.07	98.09%	1.86%	0.04%
12	IDFC First Bank	5.61	99.21%	0.78%	0.01%
13	INDIA POST PAYMENT BANK	4.88	99.96%	0.04%	0.00%
14	RBL Bank	4.52	95.38%	4.50%	0.12%
15	DEUTSCHE BANK CORP	3.68	100.00%	0.00%	0.00%

UPI Payee PSP Performance

UPI Payee PSP Performance (Dec'23)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	YES BANK LTD	4038.99	94.86%	5.02%	0.12%
2	PAYTM PAYMENTS BANK	3120.84	95.72%	4.17%	0.11%
3	AXIS BANK LTD.	1671.49	94.41%	5.46%	0.13%
4	ICICI BANK	1444.29	93.91%	5.97%	0.12%
5	HDFC BANK LTD	683.37	94.91%	5.00%	0.09%
6	STATE BANK OF INDIA	628.41	94.75%	5.16%	0.09%
7	FEDERAL BANK	222.45	96.80%	3.09%	0.11%
8	INDUSIND BANK	75.01	94.03%	5.83%	0.14%
9	RBL Bank	49.91	89.74%	10.06%	0.20%
10	COSMOS BANK	35.39	87.08%	12.69%	0.22%
11	KOTAK MAHINDRA BANK	26.91	95.30%	4.60%	0.10%
12	INDIAN BANK	26.59	92.33%	7.47%	0.20%
13	CANARA BANK	25.32	96.69%	3.23%	0.07%
14	IDFC First Bank	23.60	92.35%	7.51%	0.13%
15	AIRTEL PAYMENTS BANK	22.10	92.68%	7.20%	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 - Dec 23

UPI Merchant Category-wise Classification - Dec'23
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5812	Eating places and restaurants
	5814	Fast food restaurants
	4814	Telecommunication services, including local and long distance calls, credit card calls,
	5541	Service stations (with or without ancillary services)
	5311	Department stores
	5816	Digital Goods: Games
	5912	Drug stores and pharmacies
	7407	P2PM CHANGES
	5462	Bakeries
Medium Transacting Categories	4900	Utilities electric, gas, water and sanitary
	6540	Debit card to wallet credit (Wallet top up)
	5451	Dairies
	7299	Miscellaneous personal services not elsewhere classified
	5813	Drinking places (alcoholic beverages) bars, taverns, night-clubs, cocktail lounges and d
	7322	Debt collection agencies
	5137	Mens, womens and childrens uniforms and commercial clothing
	6012	Financial institutions merchandise and services
	5422	Freezer and locker meat provisioners
	5441	Candy, nut and confectionery shops
All Other Categories	5732	Electronics shops
	5499	Miscellaneous food shops convenience and speciality retail outlets
	7230	Beauty and barber shops
	9399	Government services not elsewhere classified
	6211	Securities brokers and dealers
	5921	Package shops beer, wine and liquor
	5399	Miscellaneous general merchandise
	7399	Business services not elsewhere classified
	5691	Mens and womens clothing shops
	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 Member Remitter Performance (Nov'23)

UPI Remitter Banks - Top 50 Banks (Nov'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	2861.65	94.81%	4.47%	0.72%	10.71	87%
2	HDFC BANK LTD	974.06	96.39%	3.57%	0.04%	2.66	98%
3	Bank of Baroda	721.89	95.07%	4.82%	0.11%	2.24	97%
4	Union Bank of India	700.46	95.55%	4.03%	0.42%	3.02	78%
5	Punjab National Bank	564.71	95.09%	4.47%	0.44%	1.76	98%
6	Kotak Mahindra Bank	543.50	94.87%	5.05%	0.08%	1.34	93%
7	Canara Bank	527.96	94.11%	5.22%	0.66%	2.23	76%
8	ICICI Bank	526.20	96.32%	3.44%	0.23%	1.45	91%
9	Axis Bank Ltd.	512.13	96.38%	3.57%	0.05%	1.25	93%
10	Paytm Payments Bank	412.00	96.42%	3.57%	0.01%	0.62	98%
11	Bank of India	366.39	92.32%	3.72%	3.96%	3.21	43%
12	Indian Bank	317.62	95.18%	4.64%	0.18%	0.92	90%
13	Airtel Payments Bank	286.95	91.14%	8.22%	0.64%	1.02	0%
14	India Post Payment Bank	226.01	84.48%	13.19%	2.33%	1.17	53%
15	Federal Bank	172.99	95.22%	4.21%	0.58%	0.52	83%
16	Central Bank Of India	165.88	89.27%	8.84%	1.88%	1.82	85%
17	Indian Overseas Bank	151.39	94.62%	4.41%	0.98%	0.61	94%
18	UCO Bank	139.38	94.08%	5.04%	0.87%	0.58	71%
19	IDBI Bank Limited	132.00	93.91%	3.83%	2.26%	1.25	83%
20	Bank of Maharashtra	122.25	94.84%	4.75%	0.41%	0.38	88%
21	INDUSIND BANK	112.00	93.43%	5.86%	0.71%	0.40	94%
22	Fino Payments Bank Limited FIP	100.60	89.84%	8.33%	1.83%	0.49	57%
23	Karnataka Bank	89.24	94.13%	5.33%	0.55%	0.22	88%
24	Yes Bank Ltd	88.32	95.78%	4.16%	0.06%	0.18	94%
25	IDFC FIRST Bank	69.99	93.90%	5.87%	0.22%	0.27	66%
26	Karur Vysya Bank	55.13	93.81%	5.54%	0.65%	0.17	89%
27	South Indian Bank	45.79	95.52%	4.11%	0.37%	0.09	93%
28	Bandhan Bank	43.79	91.71%	6.91%	1.38%	0.16	98%
29	Jammu and Kashmir Bank	43.20	91.56%	5.50%	2.94%	0.41	12%
30	Ujjivan Small Finance Bank	33.77	93.71%	5.43%	0.86%	0.14	60%
31	City Union Bank	33.22	93.96%	5.80%	0.25%	0.09	99%
32	AU small Finance Bank	33.01	95.58%	4.18%	0.25%	0.13	98%
33	Tamilnad Mercantile Bank	29.10	94.60%	5.11%	0.29%	0.08	79%
34	Punjab and Sind Bank	28.90	93.62%	5.83%	0.55%	0.18	67%
35	Tri O Tech Solutions Private Limited	28.43	100.00%	0.00%	0.00%	NA	NA
36	Equitas Bank	26.50	92.55%	7.39%	0.06%	0.08	98%
37	Standard Chartered	26.22	97.42%	2.23%	0.35%	0.07	75%
38	Kerala Gramin Bank	23.92	90.19%	7.84%	1.97%	0.19	54%
39	DBS Bank India Limited	23.67	95.97%	3.98%	0.04%	0.06	83%
40	Andhra Pradesh Grameena Vikas Bank	23.04	88.90%	10.34%	0.76%	0.07	77%
41	Pragathi Krishna Gramin Bank	21.81	92.21%	6.66%	1.13%	0.12	66%
42	Saraswat Bank	20.40	96.37%	3.34%	0.29%	0.07	87%
43	Maharashtra Gramin Bank	19.82	86.91%	10.90%	2.19%	0.07	71%
44	Citibank	18.89	95.62%	3.26%	1.12%	0.07	97%
45	Baroda UP Gramin Bank	18.78	69.42%	9.05%	21.53%	1.21	13%
46	ESAF Small Finance Bank Ltd.	18.18	94.76%	4.90%	0.34%	0.05	97%
47	Rajasthan Marudhara Gramin Bank	16.90	89.38%	10.18%	0.45%	0.06	82%
48	RBL Bank	14.75	84.95%	7.10%	7.95%	0.23	44%
49	Fincare Small Finance Bank Ltd	14.66	87.00%	11.11%	1.89%	0.09	60%
50	Sarva Haryana Gramin Bank	14.28	89.89%	6.71%	3.40%	0.22	20%

UPI Top 50 Member Beneficiary Performance (Nov'23)

UPI Beneficiary Banks - Top 50 Banks (Nov'23)
Sr.No.	UPI Beneficiary Banks (Sep-2023)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Paytm Payments Bank	2617.76	99.90%	0.08%	0.01%	0.00%
2	Yes Bank Ltd	2146.74	99.96%	0.03%	0.01%	0.00%
3	State Bank Of India	1163.73	99.15%	0.27%	0.58%	0.06%
4	Axis Bank Ltd.	856.15	99.52%	0.34%	0.15%	0.07%
5	ICICI Bank	651.71	99.28%	0.60%	0.12%	0.01%
6	HDFC BANK LTD	508.67	99.29%	0.65%	0.06%	0.04%
7	Bank of Baroda	317.76	99.43%	0.48%	0.09%	0.10%
8	Union Bank of India	310.09	99.55%	0.25%	0.20%	0.12%
9	Federal Bank	266.30	99.40%	0.32%	0.29%	0.04%
10	Punjab National Bank	254.47	99.39%	0.47%	0.14%	0.24%
11	Canara Bank	252.28	99.05%	0.53%	0.42%	0.13%
12	Kotak Mahindra Bank	219.84	99.31%	0.64%	0.05%	0.06%
13	Bank of India	173.07	96.65%	0.31%	3.04%	0.43%
14	Indian Bank	167.39	99.49%	0.44%	0.07%	0.04%
15	Airtel Payments Bank	160.79	99.07%	0.51%	0.43%	0.15%
16	INDUSIND BANK	135.40	98.93%	0.43%	0.64%	0.43%
17	India Post Payment Bank	100.15	98.67%	0.42%	0.90%	0.14%
18	Central Bank Of India	82.64	98.41%	0.57%	1.02%	0.45%
19	Indian Overseas Bank	70.94	99.24%	0.35%	0.40%	0.32%
20	UCO Bank	67.33	98.39%	0.79%	0.82%	0.08%
21	IDBI Bank Limited	58.83	98.43%	0.48%	1.09%	0.47%
22	Bank of Maharashtra	48.50	98.98%	0.61%	0.41%	0.10%
23	Fino Payments Bank Limited FIP	44.77	98.15%	0.70%	1.15%	0.10%
24	Karnataka Bank	39.12	98.76%	0.67%	0.58%	0.02%
25	IDFC FIRST Bank	48.61	98.45%	1.39%	0.16%	0.15%
26	Karur Vysya Bank	30.60	98.98%	0.59%	0.43%	0.09%
27	South Indian Bank	29.58	99.15%	0.43%	0.42%	0.02%
28	Bandhan Bank	26.18	98.07%	0.53%	1.40%	0.00%
29	AU small Finance Bank	22.96	97.60%	2.24%	0.16%	0.11%
30	Tamilnad Mercantile Bank	18.71	99.50%	0.31%	0.19%	0.03%
31	City Union Bank	17.92	98.36%	1.45%	0.19%	0.06%
32	RBL Bank	44.40	95.83%	0.55%	3.62%	0.31%
33	Ujjivan Small Finance Bank	17.99	99.31%	0.19%	0.50%	0.25%
34	Jammu and Kashmir Bank	19.18	98.00%	0.35%	1.64%	0.27%
35	Equitas Bank	12.50	97.55%	2.37%	0.08%	0.00%
36	Punjab and Sind Bank	13.25	99.37%	0.28%	0.35%	0.21%
37	Kerala Gramin Bank	13.43	98.41%	0.22%	1.38%	0.59%
38	Pragathi Krishna Gramin Bank	11.60	99.00%	0.49%	0.51%	0.33%
39	CITIBank	10.35	99.79%	0.00%	0.21%	0.00%
40	Andhra Pradesh Grameena Vikas Bank	11.19	98.76%	0.87%	0.37%	0.07%
41	DBS Bank India Limited	9.60	98.21%	1.70%	0.08%	0.04%
42	Maharashtra Gramin Bank	9.60	98.29%	0.26%	1.45%	0.14%
43	Tri O Tech Solutions Private Limited	13.88	94.64%	5.32%	0.04%	0.01%
44	Rajasthan Marudhara Gramin Bank	8.76	99.17%	0.61%	0.22%	0.06%
45	Baroda UP Gramin Bank	10.63	83.36%	0.85%	15.80%	5.43%
46	ESAF Small Finance Bank Ltd.	9.33	99.66%	0.17%	0.18%	0.05%
47	Andhra Pragathi Grameena Bank	7.17	97.88%	0.74%	1.38%	0.04%
48	Saraswat Bank	7.23	99.35%	0.37%	0.28%	0.11%
49	Sarva Haryana Gramin Bank	6.55	97.20%	0.43%	2.37%	0.60%
50	Baroda Rajasthan Kshetriya Gramin Bank	5.20	94.07%	1.31%	4.62%	1.32%

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 (Nov'23)

UPI Apps (Nov'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	5281.68	854,939.06	0.00	0.00	0.00	0.00	-	-	5281.68	854,939.06
2	Google Pay	4099.08	599,748.64	0.00	0.00	0.00	0.00	-	-	4099.08	599,748.64
3	Paytm Payments Bank App	1360.45	166,257.62	4.68	8.00	0.73	1314.75	113.61	23569.92	1479.47	191,150.29
4	Cred	93.31	34,541.32	0.00	0.00	0.00	0.00	-	-	93.31	34,541.32
5	Axis Bank Apps	11.52	2,305.08	54.43	1453.30	0.07	7.27	-	-	66.02	3,765.68
6	Amazon Pay	48.62	5,737.75	0.00	0.00	0.00	0.00	-	-	48.62	5,737.75
7	ICICI Bank Apps	27.41	11,134.92	4.79	456.40	8.55	12088.53	-	-	40.75	23,679.82
8	Fampay	28.43	336.92	0.00	0.00	0.00	0.00	-	-	28.43	336.92
9	Yes Bank Apps	25.77	11,004.32	0.00	0.00	0.28	66.93	-	-	26.06	11,071.25
10	Kotak Mahindra Bank Apps	23.88	4,341.61	0.00	0.00	0.00	0.00	-	-	23.88	4,341.61
11	BHIM	23.49	7,957.46	0.00	0.00	0.00	0.00	-	-	23.49	7,957.46
12	WhatsApp	22.29	1,917.47	0.00	0.00	0.00	0.00	-	-	22.29	1,917.47
13	HDFC Bank Apps	20.68	5,511.35	0.00	0.00	0.00	0.00	-	-	20.68	5,511.35
14	Bajaj Finserv	15.95	2,406.06	0.00	0.00	0.00	0.00	-	-	15.95	2,406.06
15	Airtel Payments Bank Apps	11.06	795.35	0.00	0.00	0.00	0.00	0.28	31.71	11.34	827.06
16	Samsung Pay	5.84	557.36	0.00	0.00	0.00	0.00	-	-	5.84	557.36
17	Federal Bank Apps	5.51	698.05	0.00	0.00	0.00	0.01	-	-	5.51	698.06
18	State Bank of India Apps	5.36	2,162.43	0.00	0.00	0.02	0.66	-	-	5.38	2,163.09
19	India Post Payments Bank Apps	5.27	532.66	0.00	0.00	0.00	0.00	-	-	5.27	532.66
20	IDFC Bank Apps	4.96	1,306.91	0.00	0.00	0.00	0.00	-	-	4.96	1,306.91
21	Groww	4.59	2,528.81	0.00	0.00	0.00	0.00	-	-	4.59	2,528.81
22	Mobikwik	4.52	1,467.04	0.00	0.00	0.00	0.00	-	-	4.52	1,467.04
23	Standard Chartered Bank Apps	3.82	262.18	0.00	0.00	0.57	244.75	-	-	4.39	506.93
24	Jupiter	4.29	577.81	0.00	0.00	0.00	0.00	-	-	4.29	577.81
25	Deutsche Bank Apps	3.26	268.83	0.00	0.00	0.00	0.02	-	-	3.26	268.85
26	Canara Bank Apps	2.29	667.04	0.00	0.00	0.00	0.00	-	-	2.29	667.04
27	RBL Bank Apps	1.85	621.67	0.00	0.00	0.37	18.30	-	-	2.23	639.97
28	slice	1.58	359.47	0.00	0.00	0.00	0.00	-	-	1.58	359.47
29	Jio Payments Bank Apps	1.26	117.05	0.00	0.00	0.00	0.00	-	-	1.26	117.05
30	Omnicard	1.09	37.85	0.00	0.00	0.00	0.00	-	-	1.09	37.85
31	Punjab National Bank Apps	1.04	214.29	0.00	0.00	0.00	0.00	-	-	1.04	214.29
32	Union Bank Apps	0.95	376.07	0.00	0.00	0.00	0.00	-	-	0.95	376.07
33	Bank of Baroda Apps	0.95	412.54	0.00	0.00	0.00	7.13	-	-	0.95	419.67
34	IndusInd Bank Apps	0.90	193.07	0.00	0.00	0.00	0.00	-	-	0.90	193.07
35	GoKiwi	0.76	93.99	0.00	0.00	0.00	0.00	-	-	0.76	93.99
36	SLICE	0.69	27.42	0.00	0.00	0.00	0.00	-	-	0.69	27.42
37	Karnataka Bank Apps	0.68	138.91	0.00	0.00	0.00	0.01	-	-	0.68	138.92
38	AU Small Finance Bank Apps	0.66	239.22	0.00	0.00	0.00	0.00	-	-	0.66	239.22
39	Navi	0.60	37.44	0.00	0.00	0.00	0.00	-	-	0.60	37.44
40	DBS Digibank Apps	0.52	196.26	0.00	0.00	0.00	0.61	-	-	0.52	196.87
41	Central Bank of India Apps	0.51	117.17	0.00	0.00	0.00	0.27	-	-	0.51	117.44
42	Indian Bank Apps	0.36	89.84	0.00	0.00	0.00	4.10	-	-	0.36	93.94
43	Fino Payments bank Apps	0.27	25.00	0.00	0.00	0.00	0.00	-	-	0.27	25.00
44	UCO Bank Apps	0.26	81.93	0.00	0.00	0.00	0.00	-	-	0.26	81.93
45	Bajaj Pay Wallet	0.26	62.02	0.00	0.00	0.00	0.00	-	-	0.26	62.02
46	South Indian Bank Apps	0.25	74.07	0.00	0.00	0.00	0.00	-	-	0.25	74.07
47	Bank of India Apps	0.24	88.76	0.00	0.00	0.00	0.00	-	-	0.24	88.76
48	HSBC Bank Apps	0.18	110.45	0.00	0.10	0.00	0.00	-	-	0.18	110.56
49	INDIE - Indus Ind	0.16	30.77	0.00	0.00	0.00	0.00	-	-	0.16	30.77
50	Tamilnad Mercantile Bank Apps	0.10	29.13	0.00	0.00	0.00	0.00	-	-	0.10	29.13
51	Indian Overseas Bank Apps	0.09	24.83	0.00	0.00	0.00	0.00	-	-	0.09	24.83
52	Fave	0.09	8.29	0.00	0.00	0.00	0.00	-	-	0.09	8.29
53	Shriram One	0.09	10.06	0.00	0.00	0.00	0.00	-	-	0.09	10.06
54	Ultracash	0.08	5.50	0.00	0.00	0.00	0.00	-	-	0.08	5.50
55	TataNeu	0.08	11.36	0.00	0.00	0.00	0.00	-	-	0.08	11.36
56	City Union Bank Apps	0.07	22.07	0.00	0.00	0.00	0.00	-	-	0.07	22.07
57	IDBI Bank Apps	0.07	35.22	0.00	0.00	0.00	0.00	-	-	0.07	35.22
58	Citi Bank Apps	0.07	60.24	0.00	0.00	0.00	0.00	-	-	0.07	60.24
59	Mobikwik	0.06	8.71	0.00	0.0	0.00	0.00	-	-	0.06	8.71
60	DIGIKHATA	0.05	20.12	0.00	0.00	0.00	0.00	-	-	0.05	20.12
61	Bank of Maharashtra Apps	0.04	8.79	0.00	0.00	0.00	0.00	-	-	0.04	8.79
62	MakeMyTrip	0.04	22.58	0.00	0.00	0.00	0.00	-	-	0.04	22.58
63	Karur Vysya Bank Apps	0.04	14.83	0.00	0.00	0.00	0.00	-	-	0.04	14.83
64	Timepay	0.04	1.20	0.00	0.00	0.00	0.00	-	-	0.04	1.20
65	NSDL Payments Bank Apps	0.03	5.89	0.00	0.00	0.00	0.00	-	-	0.03	5.89
66	Equitas Small Finance Bank Apps	0.03	19.96	0.00	0.00	0.00	0.00	-	-	0.03	19.96
67	Punjab Sind Bank Apps	0.03	14.19	0.00	0.00	0.00	0.00	-	-	0.03	14.19
68	Allahabad Bank Apps	0.03	6.93	0.00	0.00	0.00	0.00	-	-	0.03	6.93
69	CBDC Apps	0.20	8.49	0.00	0.00	0.01	0.46	-	-	0.22	8.95
70	Others	0.11	26.81	0.00	0.00	0.00	0.00	-	-	0.11	26.81

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)
Nov'23	11,235.29	17,39,740.61	4,649.47	12,92,866.82	6,585.81	4,46,873.79

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 (Nov'23)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	YES BANK LTD	3511.25	94.97%	4.95%	0.08%
2	AXIS BANK LTD.	2610.39	95.16%	4.75%	0.09%
3	ICICI BANK	2077.75	95.12%	4.79%	0.09%
4	PAYTM PAYMENTS BANK	1451.32	94.11%	5.80%	0.09%
5	HDFC BANK LTD	1044.71	96.04%	3.89%	0.07%
6	STATE BANK OF INDIA	983.74	95.70%	4.26%	0.04%
7	TRI O TECH SOLUTIONS PRIVATE LIMITED	28.43	100.00%	0.00%	0.00%
8	KOTAK MAHINDRA BANK	23.97	100.00%	0.00%	0.00%
9	BHIM	24.75	94.88%	5.02%	0.10%
10	AIRTEL PAYMENTS BANK	11.95	92.59%	7.35%	0.06%
11	FEDERAL BANK	5.61	98.19%	1.79%	0.02%
12	INDIA POST PAYMENT BANK	5.27	99.98%	0.02%	0.00%
13	IDFC FIRST Bank	5.21	98.99%	1.00%	0.01%
14	STANDARD CHARTERED	4.39	100.00%	0.00%	0.00%
15	RBL Bank Ltd	4.07	95.85%	4.09%	0.06%

UPI Payee PSP Performance

UPI Payee PSP Performance (Nov'23)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd	3895.63	95.06%	4.86%	0.08%
2	PayTM Payments Bank Ltd	2876.53	95.86%	4.06%	0.08%
3	Axis Bank Ltd	1473.31	94.65%	5.26%	0.09%
4	ICICI Bank	1367.32	94.30%	5.62%	0.09%
5	HDFC Bank Ltd	628.18	95.16%	4.77%	0.07%
6	State Bank Of India	580.84	95.02%	4.91%	0.07%
7	Federal Bank	199.54	96.90%	3.04%	0.06%
8	INDIAN Bank	76.60	93.91%	5.98%	0.11%
9	RBL Bank	39.40	91.86%	8.00%	0.13%
10	Kotak Mahindra Bank	28.13	95.06%	4.83%	0.11%
11	IDFC FIRST Bank	26.61	92.29%	7.54%	0.17%
12	Cosmos Bank	24.88	90.84%	8.96%	0.20%
13	Canara Bank	22.04	96.69%	3.25%	0.06%
14	Indian Bank	21.35	92.91%	6.95%	0.14%
15	Airtel Payments Bank	20.10	91.92%	7.96%	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 - Nov 23

UPI Merchant Category-wise Classification - Nov'23
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	5812	Eating places and restaurants
	5814	Fast food restaurants
	4814	Telecommunication services, including local and long distance calls, credit cardcalls, calls through use of magnetic stripe reading telephones and faxes
	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
	7299	Miscellaneous personal services not elsewhere classified
	5451	Dairies
	7322	Debt collection agencies
	6540	Debit card to wallet credit (Wallet top up)
	6012	Financial institutions merchandise and services
	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
	5691	Mens and womens clothing shops
	9399	Government services not elsewhere classified
	6211	Securities brokers and dealers
	5722	Household appliance shops
	5651	Family clothing shops
	5921	Package shops beer, wine and liquor
	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 Member Remitter 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 Member Beneficiary 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

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 Member Remitter 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 Member Beneficiary 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

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 Member Remitter 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 Member Beneficiary 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

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 Merchant Category Classification - Aug 23

UPI Merchant Category-wise Classification - Aug'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 cardcalls, 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
	6540	Debit card to wallet credit (Wallet top up)
	7299	Miscellaneous personal services not elsewhere classified
	7322	Debt collection agencies
	6012	Financial institutions merchandise and services
	5137	Mens, womens and childrens uniforms and commercial clothing
	5441	Candy, nut and confectionery shops
	5399	Miscellaneous general merchandise
	5993	Cigar shops and stands
All Other Categories	5732	Electronics shops
	7230	Beauty and barber shops
	5422	Freezer and locker meat provisioners
	6211	Securities brokers and dealers
	5722	Household appliance shops
	9399	Government services not elsewhere classified
	5943	Stationery, office and school supply shops
	4121	Taxi-cabs and limousines
	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 Member Remitter 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 Member Beneficiary 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

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 Member Remitter 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 Member Beneficiary 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	4,461.40	7,45,552.20	0.00	0.00	0.00	0.00			4,461.36	7,45,552.20
2	Google Pay	3,266.80	4,94,088.00	0.00	0.00	0.00	0.00			3,266.83	4,94,088.00
3	Paytm Payments Bank App	1,197.30	1,39,950.10	1.40	4.20	0.60	866.80	108.10	21,673.70	1,307.48	1,62,494.80
4	Cred	73.90	26,431.80	0.00	0.00	0.00	0.00			73.93	26,431.80
5	Amazon Pay	52.90	5,647.90	0.00	0.00	0.00	0.00			52.89	5,647.90
6	Axis Bank Apps	9.70	1,692.70	37.90	537.10	0.00	1.90			47.64	2,231.70
7	ICICI Bank Apps	27.10	8,599.30	4.80	338.00	5.70	7,306.50			37.63	16,243.70
8	Yes Bank Apps	35.80	12,721.80	0.00	0.00	0.70	275.60			36.46	12,997.50
9	BHIM	23.10	7,289.00	0.00	0.00	0.00	0.00			23.11	7,289.00
10	HDFC Bank Apps	17.60	4,168.60	0.00	0.00	0.00	0.00			17.56	4,168.60
11	Kotak Mahindra Bank Apps	17.40	3,202.50	0.00	0.00	0.00	0.00			17.38	3,202.50
12	WhatsApp	16.00	1,443.30	0.00	0.00	0.00	0.00			16.00	1,443.30
13	Fampay	15.00	184.70	0.00	0.00	0.00	0.00			14.99	184.70
14	Bajaj Finserv	9.80	1,312.60	0.00	0.00	0.00	0.00			9.76	1,312.60
15	Airtel Payments Bank Apps	8.80	632.10	0.00	0.00	0.00	0.00	0.00	0.10	8.84	632.20
16	IDFC Bank Apps	6.30	1,528.10	0.00	0.00	0.00	12.20			6.31	1,540.30
17	Samsung Pay	5.60	522.80	0.00	0.00	0.00	0.00			5.61	522.80
18	Federal Bank Apps	4.90	630.00	0.00	0.00	0.00	0.00			4.86	630.00
19	India Post Payments Bank Apps	4.80	742.50	0.00	0.00	0.00	0.00			4.83	742.50
20	State Bank of India Apps	4.60	1,959.30	0.00	0.00	0.00	0.40			4.64	1,959.70
21	Mobikwik	3.60	1,060.40	0.00	0.00	0.00	0.00			3.58	1,060.40
22	Jupiter	3.00	424.80	0.00	0.00	0.00	0.00			2.96	424.80
23	Deutsche Bank Apps	1.80	125.60	0.00	0.00	0.00	0.00			1.81	125.60
24	Canara Bank Apps	1.60	462.70	0.00	0.00	0.00	0.00			1.58	462.70
25	Groww	1.50	1,039.60	0.00	0.00	0.00	0.00			1.45	1,039.60
26	Standard Chartered Bank Apps	1.20	522.60	0.00	0.00	0.20	150.00			1.40	672.60
27	Jio Payments Bank Apps	1.40	113.20	0.00	0.00	0.00	0.00			1.35	113.20
28	RBL Bank Apps	1.10	493.40	0.00	0.00	0.20	4.40			1.29	497.90
29	Bank of Baroda Apps	1.20	427.60	0.00	0.00	0.00	0.10			1.19	427.70
30	slice	0.90	272.80	0.00	0.00	0.00	0.00			0.88	272.80
31	IndusInd Bank Apps	0.80	897.60	0.00	0.00	0.00	0.00			0.79	897.60
32	Union Bank Apps	0.80	318.90	0.00	0.00	0.00	0.00			0.79	318.90
33	Punjab National Bank Apps	0.80	169.70	0.00	0.00	0.00	0.00			0.77	169.70
34	AU Small Finance Bank Apps	0.60	196.10	0.00	0.00	0.00	0.00			0.64	196.10
35	Karnataka Bank Apps	0.60	125.90	0.00	0.00	0.00	0.00			0.61	125.90
36	OmniCard	0.50	13.90	0.00	0.00	0.00	0.00			0.48	13.90
37	Central Bank of India Apps	0.40	97.40	0.00	0.00	0.00	0.10			0.44	97.60
38	DBS Digibank Apps	0.40	166.90	0.00	0.00	0.00	0.00			0.41	166.90
39	UCO Bank Apps	0.30	107.60	0.00	0.00	0.00	0.00			0.33	107.60
40	Indian Bank Apps	0.30	80.20	0.00	0.00	0.00	1.10			0.28	81.20
41	South Indian Bank Apps	0.30	70.50	0.00	0.00	0.00	0.00			0.25	70.50
42	Bank of India Apps	0.20	71.90	0.00	0.00	0.00	0.00			0.23	71.90
43	Jupiter Edge (LivQuick PPI)	0.20	11.30	0.00	0.00	0.00	0.00			0.21	11.30
44	HSBC Bank Apps	0.20	89.10	0.00	0.10	0.00	0.00			0.15	89.20
45	Fino Payments bank Apps	0.10	9.20	0.00	0.00	0.00	0.00			0.13	9.20
46	TataNeu	0.10	17.60	0.00	0.00	0.00	0.00			0.12	17.60
47	Tamilnad Mercantile Bank Apps	0.10	18.90	0.00	0.00	0.00	0.00			0.08	18.90
48	IDBI Bank Apps	0.10	34.10	0.00	0.00	0.00	0.00			0.08	34.10
49	Citi Bank Apps	0.10	54.20	0.00	0.00	0.00	0.00			0.07	54.20
50	Fave	0.10	4.60	0.00	0.00	0.00	0.00			0.07	4.60
51	Bajaj Finserv PPI	0.10	14.30	0.00	0.00	0.00	0.00			0.07	14.30
52	PINELABS	0.10	4.20	0.00	0.00	0.00	0.00			0.07	4.20
53	City Union Bank Apps	0.10	18.30	0.00	0.00	0.00	0.00			0.06	18.30
54	Kiwi	0.10	4.10	0.00	0.00	0.00	0.00			0.05	4.10
55	Indian Overseas Bank Apps	0.00	13.00	0.00	0.00	0.00	0.00			0.05	13.00
56	Ultracash	0.00	3.10	0.00	0.00	0.00	0.00			0.04	3.10
57	Karur Vysya Bank Apps	0.00	14.00	0.00	0.00	0.00	0.00			0.04	14.00
58	MakeMyTrip	0.00	18.20	0.00	0.00	0.00	0.00			0.03	18.20
59	Punjab Sind Bank Apps	0.00	12.60	0.00	0.00	0.00	0.00			0.03	12.60
60	Dhani	0.00	7.00	0.00	0.00	0.00	0.00			0.03	7.00
61	Equitas Small Finance Bank Apps	0.00	17.30	0.00	0.00	0.00	0.00			0.03	17.30
62	Allahabad Bank Apps	0.00	8.30	0.00	0.00	0.00	0.00			0.03	8.30
63	NSDL Payments Bank Apps	0.00	4.10	0.00	0.00	0.00	0.00			0.02	4.10
64	GoNiyo PPI	0.00	0.50	0.00	0.00	0.00	0.00			0.02	0.50
65	Utkarsh Small Finance Bank Apps	0.00	6.30	0.00	0.00	0.00	0.00			0.02	6.30
66	Jammu and Kashmir Bank Apps	0.00	2.40	0.00	0.00	0.00	0.00			0.01	2.40
67	Bandhan Bank Apps	0.00	3.10	0.00	0.00	0.00	0.00			0.01	3.10
68	Zomato	0.00	1.70	0.00	0.00	0.00	0.00			0.01	1.70
69	Dhanlaxmi Bank Apps	0.00	3.20	0.00	0.00	0.00	0.00			0.01	3.20
70	Bank of Maharashtra Apps	0.00	0.80	0.00	0.00	0.00	0.00			0.01	0.80
71	Others	0.00	11.80	0.00	0.00	0.00	0.00	0.00	0.00	0.00	11.80

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

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 Member Remitter 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 Member Beneficiary 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	0.00	0.00	0.08	9.17	627.17
2	Allahabad Bank Apps	0.03	8.87	0.00	0.00	0.00	0.00	0.00	0.00	0.03	8.87
3	Amazon Pay	57.08	5772.68	0.00	0.00	0.00	0.00	0.00	0.00	57.08	5772.68
4	AU Small Finance Bank Apps	0.65	193.87	0.00	0.00	0.00	0.00	0.00	0.00	0.65	193.87
5	Axis Bank Apps	10.19	1697.23	37.00	217.00	0.03	3.00	0.00	0.00	47.38	1916.44
6	Bajaj Finserv	9.12	1189.82	0.00	0.00	0.00	0.00	0.00	0.00	9.12	1189.82
7	Bank of Baroda Apps	1.11	412.02	0.00	0.00	0.00	0.00	0.00	0.00	1.11	412.03
8	Bank of India Apps	0.22	69.86	0.00	0.00	0.00	0.00	0.00	0.00	0.22	69.87
9	BHIM	22.96	7209.87	0.00	0.00	0.00	0.00	0.00	0.00	22.96	7209.87
10	BPAYWALLET	0.06	9.65	0.00	0.00	0.00	0.00	0.00	0.00	0.06	9.65
11	Canara Bank Apps	1.48	431.27	0.00	0.00	0.00	0.00	0.00	0.00	1.48	431.27
12	Central Bank of India Apps	0.43	95.52	0.00	0.00	0.00	0.00	0.00	0.00	0.43	95.58
13	Citi Bank Apps	0.09	55.38	0.00	0.00	0.00	0.00	0.00	0.00	0.09	55.38
14	City Union Bank Apps	0.06	20.02	0.00	0.00	0.00	0.00	0.00	0.00	0.06	20.02
15	Cointab	0.01	4.24	0.00	0.00	0.00	0.00	0.00	0.00	0.01	4.24
16	Cred	61.04	23426.74	0.00	0.00	0.00	0.00	0.00	0.00	61.04	23426.74
17	DBS Digibank Apps	0.42	174.75	0.00	0.00	0.00	0.00	0.00	0.00	0.42	174.75
18	Deutsche Bank Apps	1.89	174.25	0.00	0.00	0.00	0.00	0.00	0.00	1.89	174.27
19	DHANI	0.04	7.55	0.00	0.00	0.00	0.00	0.00	0.00	0.04	7.55
20	Dhanlaxmi Bank Apps	0.01	2.93	0.00	0.00	0.00	0.00	0.00	0.00	0.01	2.93
21	Equitas Small Finance Bank Apps	0.03	16.31	0.00	0.00	0.00	0.00	0.00	0.00	0.03	16.31
22	FAM	13.78	166.50	0.00	0.00	0.00	0.00	0.00	0.00	13.78	166.50
23	Fave	0.02	1.68	0.00	0.00	0.00	0.00	0.00	0.00	0.02	1.68
24	Federal Bank Apps	5.12	643.60	0.00	0.00	0.00	0.00	0.00	0.00	5.12	643.62
25	Fino Payments bank Apps	0.09	6.60	0.00	0.00	0.00	0.00	0.00	0.00	0.09	6.60
26	Google Pay	3274.69	497748.17	0.00	0.00	0.00	0.00	0.00	0.00	3274.69	497748.17
27	Groww	0.47	287.97	0.00	0.00	0.00	0.00	0.00	0.00	0.47	287.97
28	HDFC Bank Apps	16.07	3979.33	0.00	0.00	0.00	3.00	0.00	0.00	16.07	3982.69
29	HSBC Bank Apps	0.14	87.42	0.00	0.00	0.00	0.00	0.00	0.00	0.14	87.50
30	ICICI Bank Apps	33.59	9965.41	5.23	380.00	5.09	6755.00	0.00	0.00	43.92	17101.09
31	IDBI Bank Apps	0.08	34.64	0.00	0.00	0.00	0.00	0.00	0.00	0.08	34.64
32	IDFC Bank Apps	8.52	1688.60	0.00	0.00	0.04	7.00	0.00	0.00	8.56	1696.01
33	India Post Payments Bank Apps	5.04	775.77	0.00	0.00	0.00	0.00	0.00	0.00	5.04	775.77
34	Indian Bank Apps	0.28	80.31	0.00	0.00	0.00	4.00	0.00	0.00	0.28	84.07
35	Indian Overseas Bank Apps	0.04	10.50	0.00	0.00	0.00	0.00	0.00	0.00	0.04	10.50
36	IndusInd Bank Apps	0.81	886.10	0.00	0.00	0.00	0.00	0.00	0.00	0.81	886.10
37	Jammu and Kashmir Bank Apps	0.01	2.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	2.00
38	Jio Payments Bank Apps	1.56	119.80	0.00	0.00	0.00	0.00	0.00	0.00	1.56	119.80
39	Jupiter	2.94	415.04	0.00	0.00	0.00	0.00	0.00	0.00	2.94	415.04
40	Akudo & Muvin (Livquik)	0.18	6.62	0.00	0.00	0.00	0.00	0.00	0.00	0.18	6.62
41	Karnataka Bank Apps	0.63	127.13	0.00	0.00	0.00	0.00	0.00	0.00	0.63	127.13
42	Karur Vysya Bank Apps	0.04	13.65	0.00	0.00	0.00	0.00	0.00	0.00	0.04	13.65
43	Kotak Mahindra Bank Apps	16.31	3139.04	0.00	0.00	0.00	0.00	0.00	0.00	16.31	3139.05
44	MakeMyTrip	0.02	8.01	0.00	0.00	0.00	0.00	0.00	0.00	0.02	8.01
45	Mobikwik	3.59	997.92	0.00	0.00	0.00	0.00	0.00	0.00	3.59	997.92
46	NSDL Payments Bank Apps	0.02	3.28	0.00	0.00	0.00	0.00	0.00	0.00	0.02	3.28
47	OMNI	0.39	10.10	0.00	0.00	0.00	0.00	0.00	0.00	0.39	10.10
48	Paytm Payments Bank App	1229.38	142291.76	3.95	7.00	0.56	887.00	108.39	21658.49	1342.28	164843.79
49	PhonePe	4499.20	757276.68	0.00	0.00	0.00	0.00	0.00	0.00	4499.20	757276.68
50	PINELABS	0.06	3.25	0.00	0.00	0.00	0.00	0.00	0.00	0.06	3.25
51	Punjab National Bank Apps	1.10	177.63	0.00	0.00	0.00	0.00	0.00	0.00	1.10	177.69
52	Punjab Sind Bank Apps	0.04	13.71	0.00	0.00	0.00	0.00	0.00	0.00	0.04	13.71
53	RBL Bank Apps	1.06	484.53	0.00	0.00	0.18	5.00	0.00	0.00	1.24	489.36
54	RBLBANK	0.01	0.06	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.06
55	Samsung Pay	5.83	535.16	0.00	0.00	0.00	0.00	0.00	0.00	5.83	535.16
56	slice	0.83	194.68	0.00	0.00	0.00	0.00	0.00	0.00	0.83	194.68
57	South Indian Bank Apps	0.25	71.46	0.00	0.00	0.00	0.00	0.00	0.00	0.25	71.46
58	Standard Chartered Bank Apps	0.15	91.48	0.00	0.00	0.00	0.00	0.00	0.00	0.15	91.48
59	State Bank of India Apps	4.48	1969.72	0.00	0.00	0.01	0.00	0.00	0.00	4.48	1969.95
60	Tamilnad Mercantile Bank Apps	0.07	14.83	0.00	0.00	0.00	0.00	0.00	0.00	0.07	14.83
61	TataNeu	0.15	19.28	0.00	0.00	0.00	0.00	0.00	0.00	0.15	19.28
62	UCO Bank Apps	0.36	118.26	0.00	0.00	0.00	0.00	0.00	0.00	0.36	118.26
63	Ultracash	0.01	1.13	0.00	0.00	0.00	0.00	0.00	0.00	0.01	1.13
64	Union Bank Apps	0.76	306.93	0.00	0.00	0.00	0.00	0.00	0.00	0.76	306.93
65	Utkarsh Small Finance Bank Apps	0.02	6.81	0.00	0.00	0.00	0.00	0.00	0.00	0.02	6.81
66	WhatsApp	15.98	1477.06	0.00	0.00	0.00	0.00	0.00	0.00	15.98	1477.06
67	Yes Bank Apps	42.21	12934.66	0.00	0.00	0.44	72.00	0.00	0.00	42.65	13006.24
68	Zomato	0.01	0.43	0.00	0.00	0.00	0.00	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

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 Top 50 Member Remitter Performance (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	79.01%
24	Karnataka Bank	73.39	90.95%	6.77%	2.28%	0.58	36.72%
25	IDFC FIRST Bank	65.41	93.84%	5.29%	0.87%	0.38	42.68%
26	Karur Vysya Bank	45.52	93.32%	6.30%	0.38%	0.18	93.95%
27	Bandhan Bank	40.20	83.17%	11.83%	5.00%	0.19	17.93%
28	South Indian Bank	35.35	95.40%	4.38%	0.22%	0.19	97.12%
29	Jammu and Kashmir Bank	28.65	85.16%	6.51%	8.33%	0.16	53.22%
30	City Union Bank	26.60	92.01%	7.23%	0.75%	0.14	82.07%
31	Ujjivan Small Finance Bank	25.30	93.44%	6.05%	0.52%	0.15	55.64%
32	AU small Finance Bank	25.25	94.73%	5.16%	0.11%	0.09	0.03%
33	Equitas Bank	24.78	89.64%	9.84%	0.51%	0.11	94.37%
34	Punjab and Sind Bank	24.18	72.89%	12.14%	14.97%	0.10	74.71%
35	Tamilnad Mercantile Bank	22.61	93.27%	6.31%	0.42%	0.08	56.86%
36	DBS Bank India Limited	22.47	95.48%	4.10%	0.42%	0.02	97.00%
37	Standard Chartered	20.58	95.48%	2.64%	1.89%	0.10	96.28%
38	Citibank	18.93	96.10%	3.34%	0.56%	0.07	94.85%
39	Andhra Pradesh Grameena Vikas Bank	18.59	81.16%	12.74%	6.10%	0.21	14.73%
40	Pragathi Krishna Gramin Bank	17.59	89.02%	10.14%	0.84%	0.21	56.54%
41	Maharashtra Gramin Bank	17.58	79.86%	14.29%	5.85%	0.22	17.55%
42	Saraswat Bank	17.41	94.12%	4.83%	1.05%	0.07	79.27%
43	ESAF Small Finance Bank Ltd.	16.00	73.35%	25.56%	1.09%	0.04	96.76%
44	Kerala Gramin Bank	15.48	90.69%	8.76%	0.55%	0.06	85.07%
45	Rajasthan Marudhara Gramin Bank	15.25	77.19%	17.48%	5.33%	0.22	10.80%
46	Andhra Pragathi Grameena Bank	12.27	55.23%	32.09%	12.68%	0.35	6.53%
47	RBL	12.05	93.08%	6.36%	0.55%	0.06	72.51%
48	Sarva Haryana Gramin Bank	11.59	91.79%	7.34%	0.87%	0.11	5.09%
49	Baroda UP Gramin Bank	11.10	85.69%	10.93%	3.38%	0.05	73.44%
50	Fincare Small Finance Bank Ltd	9.21	84.10%	11.08%	4.82%	0.02	28.26%

UPI Top 50 Member Beneficiary Performance (Apr'23)

UPI Beneficiary Banks - Top 50 Banks (Apr'23)
Sr.No.	UPI Beneficiary Banks (Apr-2023)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Paytm Payments Bank	1973.67	99.73%	0.23%	0.04%	0.00%
2	Yes Bank Ltd	1914.76	99.98%	0.03%	0.04%	0.01%
3	State Bank of India	966.28	98.07%	0.21%	1.48%	0.23%
4	Axis Bank Ltd	636.48	99.87%	0.09%	0.01%	0.03%
5	ICICI Bank	590.66	99.57%	0.24%	0.10%	0.08%
6	HDFC BANK LTD	443.16	99.23%	0.50%	0.23%	0.04%
7	Bank of Baroda	269.46	99.50%	0.14%	0.16%	0.19%
8	Union Bank of India	260.41	99.04%	0.16%	0.74%	0.06%
9	Punjab National Bank	203.59	99.04%	0.34%	0.39%	0.24%
10	Federal Bank	202.49	99.70%	0.21%	0.05%	0.05%
11	Canara Bank	202.15	99.14%	0.11%	0.30%	0.45%
12	Kotak Mahindra Bank	198.71	97.46%	0.39%	1.65%	0.49%
13	Bank of India	147.23	99.25%	0.23%	0.48%	0.04%
14	Indian Bank	119.18	99.18%	0.18%	0.41%	0.22%
15	Airtel Payments Bank	113.09	99.23%	0.39%	0.17%	0.21%
16	INDUSIND BANK	85.37	99.20%	0.20%	0.46%	0.14%
17	Central Bank Of India	71.27	98.29%	0.58%	0.69%	0.44%
18	India Post Payment Bank	67.58	92.60%	0.94%	6.26%	0.20%
19	Indian Overseas Bank	57.66	97.84%	0.75%	1.34%	0.07%
20	UCO Bank	52.37	98.25%	0.69%	0.77%	0.30%
21	IDBI Bank Limited	51.34	98.23%	0.38%	1.35%	0.04%
22	IDFC FIRST Bank	44.42	97.52%	0.93%	1.01%	0.54%
23	Bank of Maharashtra	42.01	96.54%	0.21%	2.95%	0.30%
24	Karnataka Bank	33.81	96.15%	0.69%	2.13%	1.02%
25	Karur Vysya Bank	26.37	99.28%	0.42%	0.26%	0.04%
26	RBL	35.25	99.65%	0.60%	0.23%	0.09%
27	Fino Payments Bank Limited	25.50	97.00%	0.84%	1.99%	0.18%
28	South Indian Bank	24.07	99.54%	0.20%	0.19%	0.06%
29	Bandhan Bank	23.65	93.77%	0.33%	5.76%	0.14%
30	AU small Finance Bank	18.18	98.39%	1.34%	0.08%	0.19%
31	City Union Bank	14.52	98.36%	1.08%	0.49%	0.07%
32	Tamilnad Mercantile Bank	14.05	99.17%	0.26%	0.29%	0.29%
33	Ujjivan Small Finance Bank	13.58	98.55%	0.29%	0.33%	0.83%
34	CITI	12.49	99.31%	0.00%	0.34%	0.34%
35	Equitas Bank	11.69	97.49%	1.98%	0.40%	0.13%
36	Jammu and Kashmir Bank	11.47	94.25%	0.43%	5.24%	0.08%
37	Punjab and Sind Bank	10.98	87.57%	0.17%	12.19%	0.07%
38	Pragathi Krishna Gramin Bank	9.78	98.38%	0.27%	0.29%	1.07%
39	Kerala Gramin Bank	9.29	99.03%	0.20%	0.20%	0.57%
40	Andhra Pradesh Grameena Vikas Bank	9.21	95.46%	0.91%	2.61%	1.01%
41	DBS Bank India Limited	9.13	97.78%	1.26%	0.49%	0.47%
42	Cosmos Bank	8.23	98.97%	0.27%	0.44%	0.32%
43	Maharashtra Gramin Bank	8.21	96.55%	0.65%	2.61%	0.18%
44	ESAF Small Finance Bank Ltd.	7.27	99.05%	0.12%	0.77%	0.06%
45	Baroda UP Gramin Bank	7.15	95.43%	2.29%	2.06%	0.23%
46	Rajasthan Marudhara Gramin Bank	7.13	96.52%	0.31%	2.06%	1.12%
47	Saraswat Bank	6.39	98.39%	0.21%	1.29%	0.10%
48	Andhra Pragathi Grameena Bank	5.96	86.81%	0.34%	10.61%	2.24%
49	Sarva Haryana Gramin Bank	5.53	96.49%	0.47%	0.79%	2.25%
50	Baroda Rajasthan Kshetriya Gramin Bank	4.81	94.55%	2.61%	1.17%	1.67%

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 (Apr'23)

UPI Apps (Apr'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	9.04	640.16	0.00	0.00	0.00	0.00	0.00	0.06	9.04	640.22
2	Allahabad Bank Apps	0.03	8.96	0.00	0.00	0.00	0.00	0.00	0.00	0.03	8.96
3	Amazon Pay	53.44	5,351.07	0.00	0.00	0.00	0.00	0.00	0.00	53.44	5,351.07
4	AU Small Finance Bank Apps	0.63	184.93	0.00	0.00	0.00	0.00	0.00	0.00	0.63	184.93
5	Axis Bank Apps	9.36	1,584.45	42.35	282.63	0.03	2.81	0.00	0.00	51.74	1,869.89
6	Bajaj Finserv	7.68	1,053.08	0.00	0.00	0.00	0.00	0.00	0.00	7.68	1,053.08
7	Bandhan Bank Apps	0.01	1.44	0.00	0.00	0.00	0.00	0.00	0.00	0.01	1.44
8	Bank of Baroda Apps	1.06	392.74	0.00	0.00	0.00	0.00	0.00	0.00	1.06	392.74
9	Bank of India Apps	0.22	66.93	0.00	0.00	0.00	0.00	0.00	0.00	0.22	66.93
10	Bank of Maharashtra Apps	0.06	19.83	0.00	0.00	0.00	0.00	0.00	0.00	0.06	19.83
11	BHIM	23.77	7,368.61	0.00	0.00	0.00	0.00	0.00	0.00	23.77	7,368.61
12	BPAYWALLET	0.05	9.91	0.00	0.00	0.00	0.00	0.00	0.00	0.05	9.91
13	Canara Bank Apps	1.40	383.46	0.00	0.00	0.00	0.00	0.00	0.00	1.40	383.46
14	Central Bank of India Apps	0.41	91.19	0.00	0.00	0.00	0.08	0.00	0.00	0.41	91.27
15	Citi Bank Apps	0.10	58.17	0.00	0.00	0.00	0.00	0.00	0.00	0.10	58.17
16	City Union Bank Apps	0.06	18.31	0.00	0.00	0.00	0.00	0.00	0.00	0.06	18.31
17	Cointab	0.02	10.61	0.00	0.00	0.00	0.00	0.00	0.00	0.02	10.61
18	Cred	45.70	20,729.56	0.00	0.00	0.00	0.00	0.00	0.00	45.70	20,729.56
19	DBS Digibank Apps	0.41	173.13	0.00	0.00	0.00	0.00	0.00	0.00	0.41	173.13
20	Deutsche Bank Apps	1.65	142.80	0.00	0.00	0.00	0.86	0.00	0.00	1.65	143.66
21	DHANI	0.08	9.21	0.00	0.00	0.00	0.00	0.00	0.00	0.08	9.21
22	Dhanlaxmi Bank Apps	0.01	2.80	0.00	0.00	0.00	0.00	0.00	0.00	0.01	2.80
23	Equitas Small Finance Bank Apps	0.02	13.86	0.00	0.00	0.00	0.00	0.00	0.00	0.02	13.86
24	FAM	11.78	146.58	0.00	0.00	0.00	0.00	0.00	0.00	11.78	146.58
25	Fave	0.03	3.27	0.00	0.00	0.00	0.00	0.00	0.00	0.03	3.27
26	Federal Bank Apps	5.18	624.64	0.00	0.00	0.00	0.00	0.00	0.00	5.18	624.64
27	Fino Payments bank Apps	0.08	5.67	0.00	0.00	0.00	0.00	0.00	0.00	0.08	5.67
28	Google Pay	3,109.24	474,049.90	0.00	0.00	0.00	0.00	0.00	0.00	3,109.24	474,049.90
29	Groww	0.11	80.85	0.00	0.00	0.00	0.00	0.00	0.00	0.11	80.85
30	HDFC Bank Apps	14.48	3,685.33	0.00	0.00	0.00	16.48	0.00	0.00	14.48	3,701.81
31	HSBC Bank Apps	0.14	90.10	0.00	0.03	0.00	0.00	0.00	0.00	0.14	90.13
32	ICICI Bank Apps	30.69	8,941.59	5.34	323.96	5.95	7,439.02	0.00	0.00	41.98	16,704.57
33	IDBI Bank Apps	0.07	32.02	0.00	0.00	0.00	0.00	0.00	0.00	0.07	32.02
34	IDFC Bank Apps	11.96	2,274.12	0.00	0.00	0.71	591.19	0.00	0.00	12.66	2,865.32
35	India Post Payments Bank Apps	5.24	746.48	0.00	0.00	0.00	0.00	0.00	0.00	5.24	746.48
36	Indian Bank Apps	0.27	75.66	0.00	0.00	0.00	10.71	0.00	0.00	0.27	86.37
37	Indian Overseas Bank Apps	0.03	7.76	0.00	0.00	0.00	0.00	0.00	0.00	0.03	7.76
38	IndusInd Bank Apps	0.80	877.27	0.00	0.00	0.00	0.00	0.00	0.00	0.80	877.27
39	Jio Payments Bank Apps	1.49	112.21	0.00	0.00	0.00	0.00	0.00	0.00	1.49	112.21
40	Jupiter	2.72	380.27	0.00	0.00	0.00	0.00	0.00	0.00	2.72	380.27
41	Akudo & Muvin (Livquik)	0.11	4.25	0.00	0.00	0.00	0.00	0.00	0.00	0.11	4.25
42	Karnataka Bank Apps	0.51	110.35	0.00	0.00	0.00	0.00	0.00	0.00	0.51	110.35
43	Karur Vysya Bank Apps	0.04	14.19	0.00	0.00	0.00	0.00	0.00	0.00	0.04	14.19
44	Kotak Mahindra Bank Apps	13.98	2,845.64	0.00	0.00	0.00	0.01	0.00	0.00	13.98	2,845.65
45	MakeMyTrip	0.02	12.91	0.00	0.00	0.00	0.00	0.00	0.00	0.02	12.91
46	Mobikwik	3.48	923.59	0.00	0.00	0.00	0.00	0.00	0.00	3.48	923.59
47	NSDL Payments Bank Apps	0.02	3.42	0.00	0.00	0.00	0.00	0.00	0.00	0.02	3.42
48	OMNI	0.26	6.74	0.00	0.00	0.00	0.00	0.00	0.00	0.26	6.74
49	Paytm Payments Bank App	1,184.38	135,343.96	8.83	14.25	0.53	793.27	105.52	19,560.25	1,299.25	155,711.73
50	PhonePe	4,216.99	710,178.44	0.00	0.00	0.00	0.00	0.00	0.00	4,216.99	710,178.44
51	PINELABS	0.02	1.31	0.00	0.00	0.00	0.00	0.00	0.00	0.02	1.31
52	Punjab National Bank Apps	1.03	148.27	0.00	0.00	0.00	0.01	0.00	0.00	1.03	148.28
53	Punjab Sind Bank Apps	0.04	14.04	0.00	0.00	0.00	0.00	0.00	0.00	0.04	14.04
54	RBL Bank Apps	1.56	489.63	0.00	0.00	0.10	2.70	0.00	0.00	1.66	492.33
55	Samsung Pay	5.67	511.04	0.00	0.00	0.00	0.00	0.00	0.00	5.67	511.04
56	Slash	0.01	0.32	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.32
57	slice	0.66	170.62	0.00	0.00	0.00	0.00	0.00	0.00	0.66	170.62
58	South Indian Bank Apps	0.22	63.81	0.00	0.00	0.00	0.00	0.00	0.00	0.22	63.81
59	Standard Chartered Bank Apps	0.16	94.21	0.00	0.00	0.00	0.00	0.00	0.00	0.16	94.22
60	State Bank of India Apps	4.09	1,910.04	0.00	0.00	0.00	0.11	0.00	0.00	4.09	1,910.15
61	Tamilnad Mercantile Bank Apps	0.06	13.15	0.00	0.00	0.00	0.00	0.00	0.00	0.06	13.15
62	TataNeu	0.15	16.46	0.00	0.00	0.00	0.00	0.00	0.00	0.15	16.46
63	UCO Bank Apps	0.34	111.87	0.00	0.00	0.00	0.00	0.00	0.00	0.34	111.87
64	Ultracash	0.03	2.10	0.00	0.00	0.00	0.00	0.00	0.00	0.03	2.10
65	Union Bank Apps	0.74	301.17	0.00	0.00	0.00	0.00	0.00	0.00	0.74	301.17
66	Utkarsh Small Finance Bank Apps	0.02	6.43	0.00	0.00	0.00	0.00	0.00	0.00	0.02	6.43
67	WhatsApp	14.83	1,319.01	0.00	0.00	0.00	0.00	0.00	0.00	14.83	1,319.01
68	Yes Bank Apps	34.45	12,151.00	0.00	0.00	0.88	303.98	0.00	0.00	35.33	12,454.98
69	Others	0.03	8.54	0.00	0.00	0.00	0.00	0.00	0.00	0.03	8.54

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)
Apr'23	8,903.76	14,07,837.61	3,870.58	10,86,509.94	5,033.19	3,21,327.66

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 (Apr'23)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd	3,144.79	98.73%	1.27%	0.00%
2	ICICI Bank	1,460.93	98.80%	1.20%	0.00%
3	Axis Bank Ltd	1,443.01	98.63%	1.37%	0.00%
4	Paytm Payments Bank	1,210.88	98.58%	1.40%	0.01%
5	State Bank Of India	939.75	98.80%	1.19%	0.01%
6	HDFC Bank Ltd	715.30	98.84%	1.16%	0.00%
7	Kotak Mahindra Bank	14.24	98.15%	1.85%	0.00%
8	IDFC FIRST Bank	12.84	99.06%	0.94%	0.00%
9	FamPay PPI	11.99	98.21%	1.79%	0.00%
10	Airtel Payments Bank	9.41	96.07%	3.89%	0.04%
11	India Post Payment Bank	5.32	98.47%	1.53%	0.00%
12	Federal Bank	5.30	98.08%	1.92%	0.00%
13	RBL Bank	2.42	98.79%	1.21%	0.00%
14	Deutsche Bank	1.65	99.95%	0.05%	0.00%
15	Jio Payments Bank	1.56	95.10%	4.22%	0.68%

UPI Payee PSP Performance

UPI Payee PSP Performance (Apr'23)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd	3,179.83	99.75%	0.21%	0.04%
2	Paytm Payments Bank	2,097.58	99.44%	0.26%	0.31%
3	Axis Bank Ltd	1,109.13	99.28%	0.68%	0.04%
4	ICICI Bank	1,003.20	99.48%	0.47%	0.05%
5	HDFC Bank Ltd	407.42	99.13%	0.82%	0.05%
6	State Bank Of India	379.74	99.25%	0.48%	0.27%
7	Federal Bank	143.53	98.63%	1.07%	0.31%
8	IndusInd Bank	43.48	97.73%	1.27%	1.00%
9	Kotak Mahindra Bank	40.35	99.56%	0.32%	0.12%
10	RBL Bank	30.12	99.68%	0.21%	0.11%
11	Cosmos Bank	21.91	97.60%	2.36%	0.04%
12	Airtel Payments Bank	19.93	98.83%	0.64%	0.53%
13	IDFC FIRST Bank	18.84	95.43%	2.32%	2.25%
14	Citibank	13.13	94.90%	3.14%	1.96%
15	Bank of Baroda	8.50	87.11%	0.38%	12.52%

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 - April 23

UPI Merchant Category-wise Classification - April'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
	5816	Digital Goods: Games
	5311	Department stores
	5541	Service stations (with or without ancillary services)
	5912	Drug stores and pharmacies
	5462	Bakeries
	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
	5399	Miscellaneous general merchandise
	5331	Variety stores
	5137	Mens, womens and childrens uniforms and commercial clothing
	5262	Online Marketplaces
	6012	Financial institutions merchandise and services
All Other Categories	5732	Electronics shops
	5422	Freezer and locker meat provisioners
	5441	Candy, nut and confectionery shops
	7230	Beauty and barber shops
	4899	Cable and other pay television services
	6211	Securities brokers and dealers
	4784	Tolls and bridge fees
	9399	Government services not elsewhere classified
	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 Member Remitter Performance (Mar'23)

UPI Remitter Banks - Top 50 Banks (Mar'23)
Sr. No.	UPI Remitter Banks (Mar-2023)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank Of India	2260.05	92.46%	5.09%	2.45%	15.95	89.61%
2	HDFC BANK LTD	778.92	94.41%	4.74%	0.85%	4.53	93.27%
3	Bank of Baroda	572.31	93.72%	5.89%	0.39%	2.06	96.77%
4	Union Bank of India	538.68	94.84%	4.65%	0.51%	2.60	75.60%
5	ICICI Bank	444.82	96.09%	3.11%	0.80%	2.72	95.14%
6	Axis Bank Ltd.	413.87	95.79%	4.14%	0.07%	1.29	89.86%
7	Punjab National Bank	409.55	95.11%	4.78%	0.12%	1.75	82.94%
8	Canara Bank	405.45	93.97%	5.81%	0.22%	1.68	93.20%
9	Paytm Payments Bank	404.99	95.76%	4.03%	0.21%	1.22	78.26%
10	Kotak Mahindra Bank	404.38	93.76%	5.35%	0.89%	1.77	65.63%
11	Bank of India	293.39	95.42%	4.06%	0.53%	1.32	76.80%
12	Indian Bank	236.53	92.72%	5.50%	1.78%	1.52	73.10%
13	Airtel Payments Bank	193.35	86.62%	13.09%	0.30%	0.82	93.66%
14	India Post Payment Bank	158.88	75.27%	20.47%	4.26%	1.16	53.49%
15	Federal Bank	142.93	94.60%	5.10%	0.31%	0.51	92.18%
16	Central Bank Of India	141.31	90.23%	8.68%	1.09%	1.26	77.95%
17	Indian Overseas Bank	114.43	94.72%	4.75%	0.53%	0.51	94.65%
18	IDBI Bank Limited	111.97	89.17%	3.67%	7.16%	1.44	76.20%
19	UCO Bank	101.76	93.78%	5.72%	0.51%	0.53	80.64%
20	Bank of Maharashtra	100.81	91.86%	4.40%	3.74%	0.58	57.63%
21	INDUSIND BANK	83.58	94.08%	5.59%	0.32%	0.37	92.66%
22	Yes Bank Ltd	78.15	95.31%	4.26%	0.43%	0.2	81.87%
23	Fino Payments Bank	73.73	77.59%	20.33%	2.08%	0.51	61.41%
24	Karnataka Bank	72.22	92.20%	6.53%	1.28%	0.24	78.84%
25	IDFC FIRST Bank	65.54	92.41%	6.39%	1.20%	0.3	67.52%
26	Karur Vysya Bank	45.86	92.75%	6.71%	0.54%	0.18	88.19%
27	Bandhan Bank	37.63	88.08%	8.84%	3.07%	0.42	79.98%
28	South Indian Bank	37.12	94.83%	4.89%	0.28%	0.12	93.61%
29	City Union Bank	27.3	91.35%	7.78%	0.87%	0.11	92.43%
30	Jammu and Kashmir Bank	26.67	89.34%	6.29%	4.37%	0.30	43.89%
31	Equitas Bank	24.63	88.99%	10.43%	0.58%	0.00	85.92%
32	Ujjivan Small Finance Bank	24.53	93.31%	6.33%	0.35%	0.12	75.52%
33	AU small Finance Bank	24.37	94.50%	5.19%	0.30%	0.11	95.90%
34	Tamilnad Mercantile Bank	22.69	93.16%	6.60%	0.24%	0.07	84.05%
35	DBS Bank India Limited	22.51	95.46%	4.06%	0.47%	0.00	88.13%
36	Punjab and Sind Bank	21.53	89.29%	9.82%	0.90%	0.14	82.00%
37	Standard Chartered	20.28	96.72%	2.42%	0.85%	0.09	88.92%
38	Andhra Pradesh Grameena Vikas Bank	18.43	82.74%	11.63%	5.64%	0.12	51.12%
39	Citibank	18.42	95.76%	3.42%	0.83%	0.06	97.94%
40	Maharashtra Gramin Bank	17.65	79.68%	15.49%	4.83%	0.14	42.17%
41	Pragathi Krishna Gramin Bank	17.47	86.38%	10.22%	3.40%	0.19	79.06%
42	Saraswat Bank	17.1	96.72%	3.12%	0.16%	0.04	94.48%
43	Kerala Gramin Bank	16.26	89.80%	9.10%	1.11%	0.08	87.82%
44	Rajasthan Marudhara Gramin Bank	15.76	74.89%	19.11%	6.00%	0.11	34.21%
45	ESAF Small Finance Bank Ltd.	14.58	84.00%	15.03%	0.97%	0.05	82.29%
46	RBL	11.99	92.44%	6.80%	0.77%	0.00	83.60%
47	Andhra Pragathi Grameena Bank	11.75	77.24%	16.27%	6.48%	0.12	16.47%
48	Sarva Haryana Gramin Bank	11.26	89.92%	7.80%	2.28%	0.13	37.49%
49	Baroda UP Gramin Bank	10.54	84.29%	13.20%	2.51%	0.12	38.16%
50	Fincare Small Finance Bank Ltd	8.59	85.47%	10.75%	3.78%	0.12	36.94%

UPI Top 50 Member Beneficiary Performance (Mar'23)

UPI Beneficiary Banks - Top 50 Banks (Mar'23)
Sr.No.	UPI Beneficiary Banks (Mar-2023)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Paytm Payments Bank	1921.46	99.68%	0.24%	0.06%	0.02%
2	Yes Bank Ltd	1590.23	99.88%	0.00%	0.00%	0.03%
3	State Bank Of India	972.24	98.22%	0.21%	1.41%	0.17%
4	ICICI Bank	601.02	98.26%	0.24%	1.06%	0.44%
5	Axis Bank Ltd	599.56	99.42%	0.23%	0.23%	0.12%
6	HDFC BANK LTD	443.88	98.86%	0.53%	0.42%	0.19%
7	Bank of Baroda	267.27	99.48%	0.17%	0.26%	0.10%
8	Union Bank of India	258.29	99.41%	0.17%	0.30%	0.11%
9	Canara Bank	201.82	99.57%	0.00%	0.33%	0.10%
10	Punjab National Bank	199.08	99.36%	0.36%	0.07%	0.21%
11	Federal Bank	198.1	99.50%	0.31%	0.18%	0.01%
12	Kotak Mahindra Bank	186.19	98.32%	0.43%	0.88%	0.37%
13	Bank of India	146.91	99.25%	0.23%	0.42%	0.10%
14	Indian Bank	114.41	97.90%	0.21%	1.16%	0.73%
15	Airtel Payments Bank	114	99.03%	0.23%	0.63%	0.11%
16	INDUSIND BANK	84.66	99.51%	0.21%	0.21%	0.08%
17	Central Bank Of India	71.42	98.58%	0.59%	0.43%	0.40%
18	India Post Payment Bank	66.53	97.67%	0.60%	1.64%	0.09%
19	Indian Overseas Bank	57.99	99.15%	0.51%	0.14%	0.20%
20	IDBI Bank Limited	54.35	92.67%	0.36%	6.24%	0.74%
21	UCO Bank	51.56	98.95%	0.67%	0.35%	0.03%
22	Bank of Maharashtra	42.71	94.93%	0.23%	4.45%	0.39%
23	IDFC FIRST Bank	40.8	97.07%	1.51%	1.27%	0.14%
24	Karnataka Bank	33.67	98.00%	0.63%	1.31%	0.06%
25	Karur Vysya Bank	26.9	99.23%	0.39%	0.29%	0.09%
26	South Indian Bank	24.73	99.45%	0.37%	0.17%	0.02%
27	Fino Payments Bank	24.05	97.27%	1.32%	1.41%	0.24%
28	Bandhan Bank	23.1	96.04%	0.37%	3.42%	0.17%
29	AU small Finance Bank	18.01	98.65%	1.07%	0.22%	0.06%
30	City Union Bank	14.84	98.25%	1.05%	0.59%	0.11%
31	Tamilnad Mercantile Bank	14.13	99.54%	0.25%	0.17%	0.04%
32	CITI	13.9	99.75%	0.00%	0.10%	0.15%
33	Ujjivan Small Finance Bank	13.29	99.29%	0.31%	0.22%	0.18%
34	Equitas Bank	12.24	96.03%	3.45%	0.45%	0.08%
35	Jammu and Kashmir Bank	10.84	97.08%	0.45%	2.27%	0.20%
36	Punjab and Sind Bank	10.28	99.09%	0.20%	0.63%	0.08%
37	Kerala Gramin Bank	9.92	98.85%	0.19%	0.71%	0.26%
38	Pragathi Krishna Gramin Bank	9.75	96.93%	0.26%	2.39%	0.42%
39	DBS Bank India Limited	9.25	98.16%	1.34%	0.37%	0.13%
40	Andhra Pradesh Grameena Vikas Bank	9.2	96.08%	0.11%	3.51%	0.30%
41	RBL	8.54	98.80%	0.75%	0.36%	0.09%
42	Maharashtra Gramin Bank	8.42	95.06%	1.38%	3.24%	0.32%
43	ESAF Small Finance Bank Ltd.	7.54	99.23%	0.13%	0.58%	0.06%
44	Rajasthan Marudhara Gramin Bank	7.39	95.85%	0.38%	3.45%	0.32%
45	Baroda UP Gramin Bank	7.1	95.28%	2.33%	1.68%	0.70%
46	Saraswat Bank	6.45	99.59%	0.22%	0.13%	0.06%
47	Andhra Pragathi Grameena Bank	6.39	95.45%	0.71%	3.78%	0.06%
48	Cosmos Bank	5.85	99.17%	0.26%	0.40%	0.17%
49	Sarva Haryana Gramin Bank	5.36	97.65%	0.62%	1.45%	0.28%
50	Baroda Rajasthan Kshetriya Gramin Bank	4.82	94.68%	2.49%	2.33%	0.50%

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 (Mar'23)

UPI Apps (Mar'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	10.66	761.39	-	-	0.00	0.00	0.00	0.11	10.66	761.51
2	Allahabad Bank Apps	0.03	8.33	-	-	-	-	-	-	0.03	8.33
3	Amazon Pay	50.56	5,360.90	-	-	-	-	-	-	50.56	5,360.90
4	AU Small Finance Bank Apps	0.62	186.48	-	-	-	-	-	-	0.62	186.48
5	Axis Bank Apps	9.31	1,700.48	48.90	273.18	0.03	3.00	-	-	58.24	1,976.67
6	Bajaj Finserv	6.70	965.35	-	-	-	-	-	-	6.70	965.35
7	Bajaj Finserv PPI	0.05	12.22	-	-	-	-	-	-	0.05	12.22
8	Bajaj Markets	0.01	0.35	-	-	-	-	-	-	0.01	0.35
9	Bandhan Bank Apps	0.01	1.50	-	-	-	-	-	-	0.01	1.50
10	Bank of America Apps	0.01	2.06	-	-	0.00	0.00	-	-	0.01	2.07
11	Bank of Baroda Apps	1.16	446.84	-	-	0.00	0.42	-	-	1.16	447.25
12	Bank of India Apps	0.23	71.14	-	-	-	-	-	-	0.23	71.14
13	Bank of Maharashtra Apps	0.06	21.29	-	-	-	-	-	-	0.06	21.29
14	BHIM	23.68	7,498.24	-	-	-	-	-	-	23.68	7,498.24
15	Canara Bank Apps	1.39	374.43	-	-	-	-	-	-	1.39	374.43
16	Central Bank of India Apps	0.36	83.48	-	-	0.00	0.09	-	-	0.36	83.56
17	Citi Bank Apps	0.12	67.55	-	-	0.00	0.01	-	-	0.12	67.55
18	City Union Bank Apps	0.06	18.93	-	-	-	-	-	-	0.06	18.93
19	Cointab	0.04	19.07	-	-	-	-	-	-	0.04	19.07
20	Cred	42.84	21,056.31	-	-	-	-	-	-	42.84	21,056.31
21	DBS Digibank Apps	0.41	177.88	-	-	-	-	-	-	0.41	177.88
22	Deutsche Bank Apps	1.72	167.84	-	-	0.02	19.27	-	-	1.73	187.11
23	Dhanlaxmi Bank Apps	0.01	3.21	-	-	-	-	-	-	0.01	3.21
24	Equitas Small Finance Bank Apps	0.02	13.57	-	-	-	-	-	-	0.02	13.57
25	Eroute	0.27	19.25	-	-	-	-	-	-	0.27	19.25
26	Fampay PPI	9.49	124.59	-	-	-	-	-	-	9.49	124.59
27	Fave	0.08	6.40	-	-	-	-	-	-	0.08	6.40
28	Federal Bank Apps	5.25	648.50	-	-	0.00	0.00	-	-	5.25	648.51
29	Fino Payments bank Apps	0.13	8.18	-	-	-	-	-	-	0.13	8.18
30	Google Pay	3,054.44	482,896.69	-	-	-	-	-	-	3,054.44	482,896.69
31	Groww	0.18	137.64	-	-	-	-	-	-	0.18	137.64
32	HDFC Bank Apps	14.22	3,644.87	-	-	0.00	0.01	-	-	14.22	3,644.88
33	HSBC Bank Apps	0.14	89.69	0.00	0.03	0.00	0.00	-	-	0.14	89.71
34	ICICI Bank Apps	29.46	8,773.27	4.87	348.16	7.26	8,502.71	-	-	41.59	17,624.14
35	IDBI Bank Apps	0.07	32.38	-	-	-	-	-	-	0.07	32.38
36	IDFC Bank Apps	13.36	2,665.21	-	-	0.67	640.96	-	-	14.02	3,306.18
37	India Post Payments Bank Apps	4.44	667.69	-	-	-	-	-	-	4.44	667.69
38	Indian Bank Apps	0.26	75.85	-	-	0.00	16.56	-	-	0.26	92.41
39	Indian Overseas Bank Apps	0.02	4.47	-	-	-	-	-	-	0.02	4.47
40	IndusInd Bank Apps	0.93	950.35	-	-	-	-	-	-	0.93	950.35
41	Janata Sahakari Bank Apps	0.01	3.74	-	-	-	-	-	-	0.01	3.74
42	Jio Payments Bank Apps	1.68	118.72	-	-	-	-	-	-	1.68	118.72
43	Jupiter	2.66	358.12	-	-	-	-	-	-	2.66	358.12
44	Karnataka Bank Apps	0.42	91.53	-	-	-	-	-	-	0.42	91.53
45	Karur Vysya Bank Apps	0.04	15.84	-	-	-	-	-	-	0.04	15.84
46	Kotak Mahindra Bank Apps	13.77	2,854.64	-	-	0.00	0.01	-	-	13.77	2,854.65
47	LivQuick PPI	0.01	0.64	-	-	-	-	-	-	0.01	0.64
48	MakeMyTrip	0.05	23.50	-	-	-	-	-	-	0.05	23.50
49	Mobikwik	3.64	937.98	-	-	-	-	-	-	3.64	937.98
50	NSDL Payments Bank Apps	0.03	3.47	-	-	-	-	-	-	0.03	3.47
51	Paytm Payments Bank App	1,169.63	133,167.49	12.95	20.36	0.55	782.71	105.25	20,459.85	1,288.38	154,430.40
52	PhonePe	4,076.32	707,410.47	-	-	-	-	-	-	4,076.32	707,410.47
53	Punjab National Bank Apps	0.43	110.59	-	-	-	-	-	-	0.43	110.59
54	Punjab Sind Bank Apps	0.04	13.74	-	-	-	-	-	-	0.04	13.74
55	RBL Bank Apps	1.79	544.09	0.00	0.00	0.09	1.89	-	-	1.88	545.98
56	Samsung Pay	5.68	528.09	-	-	-	-	-	-	5.68	528.09
57	South Indian Bank Apps	0.22	66.08	-	-	-	-	-	-	0.22	66.08
58	Standard Chartered Bank Apps	0.15	94.14	-	-	0.00	0.00	-	-	0.15	94.14
59	State Bank of India Apps	4.36	2,011.57	-	-	0.00	0.08	-	-	4.36	2,011.65
60	Tamilnad Mercantile Bank Apps	0.07	12.42	-	-	-	-	-	-	0.07	12.42
61	TataNeu	0.12	15.00	-	-	-	-	-	-	0.12	15.00
62	Transerv PPI	0.06	8.11	-	-	-	-	-	-	0.06	8.11
63	UCO Bank Apps	0.36	116.66	-	-	-	-	-	-	0.36	116.66
64	Ultracash	0.04	2.61	-	-	-	-	-	-	0.04	2.61
65	Union Bank Apps	0.75	310.24	-	-	-	-	-	-	0.75	310.24
66	Utkarsh Small Finance Bank Apps	0.02	6.35	-	-	-	-	-	-	0.02	6.35
67	WhatsApp	13.35	1,144.76	-	-	-	-	-	-	13.35	1,144.76
68	Yes Bank Apps	30.78	10,038.78	-	-	0.68	55.12	-	-	31.47	10,093.90
69	Others	0.02	5.18	-	-	-	-	-	-	0.02	5.18

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)
Mar'23	8,685.30	14,10,443.01	3,859.05	10,88,096.36	4,826.25	3,22,346.66

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 (Mar'23)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd	3,027.01	98.69%	1.30%	0.00%
2	Axis Bank Ltd	1,563.99	98.72%	1.28%	0.00%
3	ICICI Bank	1,331.47	98.77%	1.23%	0.00%
4	Paytm Payments Bank	1,199.41	98.64%	1.35%	0.01%
5	State Bank Of India	941.76	98.76%	1.24%	0.00%
6	HDFC Bank Ltd	635.41	98.80%	1.20%	0.00%
7	IDFC FIRST Bank	14.40	98.21%	1.78%	0.01%
8	Kotak Mahindra Bank	14.04	98.09%	1.90%	0.02%
9	Airtel Payments Bank	11.07	96.25%	3.70%	0.05%
10	Federal Bank	5.40	98.09%	1.89%	0.01%
11	India Post Payment Bank	4.52	98.28%	1.72%	0.00%
12	RBL Bank	2.53	98.81%	1.19%	0.00%
13	Jio Payments Bank	1.76	95.74%	3.71%	0.56%
14	Deutsche Bank	1.73	99.94%	0.06%	0.00%
15	Canara Bank	1.45	95.54%	4.45%	0.01%

UPI Payee PSP Performance

UPI Payee PSP Performance (Mar'23)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd	3,113.51	99.31%	0.59%	0.09%
2	Paytm Payments Bank	2,027.97	99.59%	0.38%	0.04%
3	Axis Bank Ltd	1,055.15	99.18%	0.77%	0.05%
4	ICICI Bank	1,012.61	99.25%	0.71%	0.04%
5	HDFC Bank Ltd	406.61	99.04%	0.94%	0.03%
6	State Bank Of India	393.82	99.21%	0.67%	0.12%
7	Federal Bank	139.72	97.09%	2.39%	0.52%
8	IndusInd Bank	44.06	98.15%	1.42%	0.44%
9	Kotak Mahindra Bank	33.89	98.96%	0.68%	0.36%
10	Cosmos Bank	25.21	97.39%	2.41%	0.20%
11	Airtel Payments Bank	20.64	98.72%	0.39%	0.89%
12	IDFC FIRST Bank	17.16	89.33%	8.06%	2.61%
13	Citibank	14.03	99.07%	0.77%	0.16%
14	Bank of Baroda	8.58	87.79%	0.34%	11.87%
15	Canara Bank	8.03	99.61%	0.35%	0.04%

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 - March 23

UPI Merchant Category-wise Classification - March'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
	5816	Digital Goods: Games
	5311	Department stores
	5541	Service stations (with or without ancillary services)
	5912	Drug stores and pharmacies
	5462	Bakeries
	6540	Debit card to wallet credit (Wallet top up)
Medium Transacting Categories	5451	Dairies
	4900	Utilities electric, gas, water and sanitary
	7299	Miscellaneous personal services not elsewhere classified
	5813	Drinking places (alcoholic beverages) bars, taverns, night-clubs, cocktail lounges and discothques
	7322	Debt collection agencies
	5399	Miscellaneous general merchandise
	5331	Variety stores
	6012	Financial institutions merchandise and services
	5137	Mens, womens and childrens uniforms and commercial clothing
	5422	Freezer and locker meat provisioners
All Other Categories	8999	Professional services not elsewhere classified
	5732	Electronics shops
	5262	Online Marketplaces
	6211	Securities brokers and dealers
	4899	Cable and other pay television services
	5441	Candy, nut and confectionery shops
	7230	Beauty and barber shops
	9399	Government services not elsewhere classified
	4214	Motor freight carriers and trucking local and long distance, moving and storage companies and local delivery
	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 Member Remitter Performance (Feb'23)

UPI Remitter Banks - Top 50 Banks (Feb'23)
Sr. No.	UPI Remitter Banks (Feb-2023)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank Of India	1987.68	89.00%	6.43%	4.57%	18.42	81.67%
2	HDFC BANK LTD	681.04	95.96%	3.76%	0.28%	2.93	93.36%
3	Bank of Baroda	502.38	92.92%	5.81%	1.28%	2.83	88.16%
4	Union Bank of India	472.10	93.64%	4.96%	1.40%	4.03	54.32%
5	ICICI Bank	397.14	96.50%	3.29%	0.21%	1.27	93.18%
6	Axis Bank Ltd	367.84	95.47%	4.50%	0.04%	1.26	89.52%
7	Paytm Payments Bank	360.42	96.17%	3.77%	0.06%	0.84	92.69%
8	Kotak Mahindra Bank	358.40	93.36%	5.26%	1.38%	1.70	66.32%
9	Canara Bank	354.92	93.13%	6.21%	0.66%	2.21	83.96%
10	Punjab National Bank	351.60	94.68%	4.98%	0.33%	1.70	96.95%
11	Bank of India	258.24	95.35%	4.34%	0.32%	1.23	84.48%
12	Indian Bank	202.78	93.39%	5.11%	1.49%	1.49	67.72%
13	Airtel Payments Bank	162.94	86.21%	13.11%	0.67%	0.91	93.03%
14	India Post Payment Bank	154.66	57.40%	23.33%	19.26%	6.49	31.89%
15	Federal Bank	127.02	94.17%	5.34%	0.48%	0.53	86.60%
16	Central Bank Of India	123.73	90.05%	8.78%	1.18%	1.16	74.98%
17	Indian Overseas Bank	100.80	94.23%	5.30%	0.47%	0.48	94.74%
18	IDBI Bank Limited	97.58	94.77%	4.02%	1.20%	0.57	86.98%
19	Bank of Maharashtra	89.07	94.51%	4.68%	0.81%	0.36	86.51%
20	UCO Bank	87.90	93.47%	5.87%	0.66%	0.50	79.26%
21	INDUSIND BANK	72.18	93.90%	5.89%	0.21%	0.33	96.05%
22	IDFC FIRST Bank	67.51	91.83%	4.93%	3.24%	0.64	35.14%
23	Yes Bank Ltd	66.76	95.49%	4.13%	0.38%	0.17	92.30%
24	Fino Payments Bank	66.29	76.37%	15.66%	7.97%	1.62	47.82%
25	Karnataka Bank	62.94	90.29%	7.59%	2.11%	0.34	53.91%
26	Karur Vysya Bank	40.92	92.07%	6.79%	1.14%	0.21	80.44%
27	Bandhan Bank	33.89	85.65%	11.75%	2.60%	0.40	77.08%
28	South Indian Bank	32.46	93.93%	5.15%	0.92%	0.16	67.41%
29	City Union Bank	23.61	92.89%	6.25%	0.86%	0.10	94.83%
30	Jammu and Kashmir Bank	23.46	88.47%	6.49%	5.03%	0.32	43.97%
31	Equitas Bank	21.75	89.06%	10.50%	0.44%	0.10	93.42%
32	Ujjivan Small Finance Bank	21.17	92.25%	6.71%	1.05%	0.14	63.25%
33	AU small Finance Bank	20.98	94.57%	5.36%	0.07%	0.10	96.90%
34	Tamilnad Mercantile Bank	20.22	90.23%	8.07%	1.71%	0.10	65.78%
35	DBS Bank India Limited	20.16	95.38%	4.21%	0.41%	0.08	87.64%
36	Punjab and Sind Bank	19.12	86.81%	12.41%	0.78%	0.13	78.29%
37	Standard Chartered	18.03	96.88%	2.54%	0.58%	0.07	91.16%
38	Citibank	16.98	95.34%	3.70%	0.95%	0.06	94.69%
39	Andhra Pradesh Grameena Vikas Bank	16.28	80.56%	12.46%	6.98%	0.17	32.54%
40	Saraswat Bank	15.08	95.25%	3.36%	1.39%	0.04	84.80%
41	Pragathi Krishna Gramin Bank	15.04	87.61%	10.88%	1.50%	0.14	81.24%
42	Maharashtra Gramin Bank	14.93	82.05%	15.61%	2.34%	0.12	48.33%
43	Kerala Gramin Bank	14.21	89.20%	10.23%	0.57%	0.07	91.07%
44	ESAF Small Finance Bank Ltd.	13.60	77.06%	21.90%	1.04%	0.06	85.84%
45	Rajasthan Marudhara Gramin Bank	12.76	80.63%	10.95%	8.41%	0.09	48.40%
46	RBL	10.51	93.16%	6.49%	0.35%	0.04	95.27%
47	Andhra Pragathi Grameena Bank	10.06	77.17%	14.54%	8.29%	0.11	23.55%
48	Sarva Haryana Gramin Bank	10.03	83.21%	7.66%	9.13%	0.25	17.54%
49	Baroda UP Gramin Bank	8.91	85.45%	12.15%	2.39%	0.06	75.51%
50	Baroda Rajasthan Kshetriya Gramin Bank	7.42	82.62%	11.38%	6.00%	0.07	45.77%

UPI Top 50 Member Beneficiary Performance (Feb'23)

UPI Beneficiary Banks - Top 50 Banks (Feb'23)
Sr.No.	UPI Beneficiary Banks (Feb-2023)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Paytm Payments Bank	1657.41	99.76%	0.21%	0.02%	0.01%
2	Yes Bank Ltd	1186.10	99.85%	0.11%	0.03%	0.01%
3	State Bank Of India	855.15	96.01%	0.26%	3.40%	0.33%
4	ICICI Bank	528.24	99.55%	0.30%	0.11%	0.04%
5	Axis Bank Ltd.	516.94	99.83%	0.14%	0.01%	0.02%
6	HDFC BANK LTD	379.92	99.19%	0.63%	0.09%	0.09%
7	Bank of Baroda	236.71	98.48%	0.41%	0.95%	0.16%
8	Union Bank of India	227.08	98.78%	0.23%	0.66%	0.33%
9	Canara Bank	176.74	99.31%	0.00%	0.57%	0.12%
10	Punjab National Bank	171.55	99.19%	0.44%	0.18%	0.18%
11	Federal Bank	168.80	99.44%	0.31%	0.23%	0.02%
12	Kotak Mahindra Bank	162.23	98.34%	0.57%	0.49%	0.60%
13	Bank of India	129.73	99.45%	0.29%	0.18%	0.08%
14	Airtel Payments Bank	100.18	98.73%	0.27%	0.76%	0.25%
15	Indian Bank	99.83	98.27%	0.39%	1.06%	0.28%
16	INDUSIND BANK	69.51	99.50%	0.25%	0.15%	0.11%
17	Central Bank Of India	62.78	98.27%	0.72%	0.62%	0.39%
18	India Post Payment Bank	58.50	84.59%	1.48%	11.82%	2.11%
19	Indian Overseas Bank	50.96	99.49%	0.25%	0.10%	0.16%
20	IDBI Bank Limited	47.42	98.37%	0.45%	1.04%	0.14%
21	IDFC FIRST Bank	45.95	93.43%	1.80%	4.07%	0.70%
22	UCO Bank	44.98	98.61%	0.71%	0.59%	0.08%
23	Bank of Maharashtra	37.78	98.86%	0.30%	0.65%	0.20%
24	Karnataka Bank	29.54	96.64%	0.88%	2.27%	0.21%
25	Karur Vysya Bank	24.17	98.57%	0.55%	0.72%	0.17%
26	Fino Payments Bank	21.97	92.06%	1.98%	4.49%	1.47%
27	South Indian Bank	21.60	99.06%	0.26%	0.56%	0.12%
28	Bandhan Bank	20.09	96.53%	0.50%	2.66%	0.31%
29	AU small Finance Bank	15.82	98.24%	1.71%	0.05%	0.01%
30	City Union Bank	13.11	98.56%	0.82%	0.53%	0.09%
31	Tamilnad Mercantile Bank	12.46	98.29%	0.36%	1.24%	0.10%
32	Ujjivan Small Finance Bank	11.51	98.64%	0.40%	0.74%	0.23%
33	Equitas Bank	11.17	97.15%	2.64%	0.19%	0.02%
34	CITI	11.09	99.67%	0.00%	0.15%	0.18%
35	Jammu and Kashmir Bank	9.04	96.05%	0.53%	3.19%	0.23%
36	Punjab and Sind Bank	9.03	99.18%	0.23%	0.50%	0.10%
37	Kerala Gramin Bank	8.73	99.42%	0.19%	0.18%	0.22%
38	Pragathi Krishna Gramin Bank	8.39	98.70%	0.34%	0.62%	0.34%
39	DBS Bank India Limited	8.30	98.10%	1.49%	0.26%	0.16%
40	Andhra Pradesh Grameena Vikas Bank	8.06	95.05%	0.30%	3.77%	0.88%
41	RBL	7.24	98.78%	1.12%	0.09%	0.02%
42	Maharashtra Gramin Bank	7.17	97.62%	1.03%	1.09%	0.27%
43	ESAF Small Finance Bank Ltd.	6.66	99.15%	0.18%	0.56%	0.11%
44	Rajasthan Marudhara Gramin Bank	6.66	93.33%	0.43%	5.95%	0.29%
45	Baroda UP Gramin Bank	6.22	94.98%	2.40%	2.42%	0.20%
46	Saraswat Bank	5.83	97.57%	0.29%	2.09%	0.05%
47	Andhra Pragathi Grameena Bank	5.66	91.88%	0.81%	7.12%	0.19%
48	Sarva Haryana Gramin Bank	4.75	92.46%	0.67%	5.81%	1.06%
49	Baroda Rajasthan Kshetriya Gramin Bank	4.29	92.30%	2.45%	4.80%	0.45%
50	Karnataka Vikas Grameena Bank	3.73	93.60%	0.24%	5.70%	0.46%

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 (Feb'23)

UPI Apps (Feb'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	8.71	730.35	-	-	0.00	0.01	0.00	0.09	8.71	730.45
2	Allahabad Bank Apps	0.03	8.47	-	-	-	-	-	-	0.03	8.47
3	Amazon Pay	47.80	4,981.82	-	-	-	-	-	-	47.80	4,981.82
4	AU Small Finance Bank Apps	0.55	165.07	-	-	-	-	-	-	0.55	165.07
5	Axis Bank Apps	7.74	1,352.53	44.19	58.61	0.03	2.82	-	-	51.95	1,413.95
6	Bajaj Finserv	5.44	882.75	-	-	-	-	-	-	5.44	882.75
7	Bandhan Bank Apps	0.01	1.71	-	-	-	-	-	-	0.01	1.71
8	Bank of Baroda Apps	1.14	408.18	-	-	0.00	1.15	-	-	1.14	409.33
9	Bank of India Apps	0.24	68.69	0.00	0.00	-	-	-	-	0.24	68.69
10	Bank of Maharashtra Apps	0.07	19.02	-	-	-	-	-	-	0.07	19.02
11	BHIM	23.21	7,158.37	-	-	-	-	-	-	23.21	7,158.37
12	Bajaj Finserv	0.01	3.43	-	-	-	-	-	-	0.01	3.43
13	Canara Bank Apps	1.09	284.23	-	-	-	-	-	-	1.09	284.23
14	Central Bank of India Apps	0.32	72.05	-	-	0.00	0.10	-	-	0.32	72.15
15	Citi Bank Apps	0.08	59.37	-	-	0.00	0.00	-	-	0.08	59.37
16	City Union Bank Apps	0.06	15.94	-	-	-	-	-	-	0.06	15.94
17	Cointab	0.04	16.40	-	-	-	-	-	-	0.04	16.40
18	Cred	36.57	17,902.20	-	-	-	-	-	-	36.57	17,902.20
19	DBS Digibank Apps	0.39	161.51	-	-	-	-	-	-	0.39	161.51
20	Deutsche Bank Apps	1.31	112.45	-	-	0.01	5.90	-	-	1.32	118.35
21	Transerv	0.02	3.13	-	-	-	-	-	-	0.02	3.13
22	Dhanlaxmi Bank Apps	0.01	2.67	-	-	-	-	-	-	0.01	2.67
23	Equitas Small Finance Bank Apps	0.02	11.41	-	-	-	-	-	-	0.02	11.41
24	EROUTE	0.17	6.08	-	-	-	-	-	-	0.17	6.08
25	FamPay PPI	1.60	21.73	-	-	-	-	-	-	1.60	21.73
26	Fave	0.11	7.08	-	-	-	-	-	-	0.11	7.08
27	Federal Bank Apps	4.76	590.97	-	-	0.00	0.00	-	-	4.76	590.97
28	Fino Payments bank Apps	0.10	6.50	-	-	-	-	-	-	0.10	6.50
29	Google Pay	2,639.55	424,442.48	-	-	-	-	-	-	2,639.55	424,442.48
30	Groww	0.21	158.90	-	-	-	-	-	-	0.21	158.90
31	HDFC Bank Apps	11.87	3,116.03	-	-	0.00	0.14	-	-	11.87	3,116.17
32	HSBC Bank Apps	0.12	73.02	0.00	0.02	0.00	0.00	-	-	0.12	73.04
33	ICICI Bank Apps	28.99	8,054.44	5.68	390.60	5.84	6,386.36	-	-	40.52	14,831.40
34	IDBI Bank Apps	0.07	29.25	-	-	-	-	-	-	0.07	29.25
35	IDFC Bank Apps	21.31	2,176.07	-	-	0.98	868.14	-	-	22.28	3,044.21
36	India Post Payments Bank Apps	4.05	609.49	-	-	-	-	-	-	4.05	609.49
37	Indian Bank Apps	0.24	68.44	-	-	0.00	0.13	-	-	0.24	68.57
38	Indian Overseas Bank Apps	0.01	2.31	-	-	-	-	-	-	0.01	2.31
39	IndusInd Bank Apps	0.78	848.43	-	-	-	-	-	-	0.78	848.43
40	Jio Payments Bank Apps	1.50	104.03	-	-	-	-	-	-	1.50	104.03
41	Jupiter	2.39	314.07	-	-	-	-	-	-	2.39	314.07
42	Karnataka Bank Apps	0.39	88.38	-	-	-	-	-	-	0.39	88.38
43	Karur Vysya Bank Apps	0.04	14.78	-	-	-	-	-	-	0.04	14.78
44	Kotak Mahindra Bank Apps	12.09	2,521.61	-	-	0.00	0.03	-	-	12.09	2,521.65
45	MakeMyTrip	0.05	22.70	-	-	-	-	-	-	0.05	22.70
46	Mobikwik	3.39	804.92	-	-	-	-	-	-	3.39	804.92
47	NSDL Payments Bank Apps	0.02	3.00	-	-	-	-	-	-	0.02	3.00
48	Paytm Payments Bank App	1,027.97	116,864.36	10.52	17.08	0.43	621.78	98.61	19,025.03	1,137.53	136,528.25
49	PhonePe	3,519.12	620,121.97	-	-	-	-	-	-	3,519.12	620,121.97
50	Punjab National Bank Apps	0.33	90.01	-	-	-	-	-	-	0.33	90.01
51	Punjab Sind Bank Apps	0.04	12.34	-	-	-	-	-	-	0.04	12.34
52	RBL Bank Apps	1.65	487.72	0.00	0.00	0.10	1.72	-	-	1.74	489.45
53	Samsung Pay	5.24	488.33	-	-	-	-	-	-	5.24	488.33
54	Slash	0.01	0.49	-	-	-	-	-	-	0.01	0.49
55	slice	0.47	117.78	-	-	-	-	-	-	0.47	117.78
56	South Indian Bank Apps	0.20	54.81	-	-	-	-	-	-	0.20	54.81
57	Standard Chartered Bank Apps	0.14	82.79	0.00	0.00	-	-	-	-	0.14	82.79
58	State Bank of India Apps	3.72	1,753.88	-	-	0.00	0.05	-	-	3.72	1,753.93
59	Tamilnad Mercantile Bank Apps	0.06	10.21	-	-	-	-	-	-	0.06	10.21
60	TataNeu	0.13	14.54	-	-	-	-	-	-	0.13	14.54
61	UCO Bank Apps	0.31	97.44	-	-	-	-	-	-	0.31	97.44
62	Ultracash	0.03	1.67	-	-	-	-	-	-	0.03	1.67
63	Union Bank Apps	0.71	280.27	-	-	-	-	-	-	0.71	280.27
64	Utkarsh Small Finance Bank Apps	0.02	9.01	-	-	-	-	-	-	0.02	9.01
65	WhatsApp	11.63	970.67	-	-	-	-	-	-	11.63	970.67
66	Yes Bank Apps	25.89	7,481.18	-	-	0.66	37.06	-	-	26.55	7,518.24
67	Others	0.03	9.01	0.00	-	0.00	0.00	0.00	-	0.03	9.01

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)
Feb'23	7,534.76	12,35,846.62	3,381.56	9,56,834.37	4,153.20	2,79,012.26

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 (Feb'23)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd	2,647.71	98.19%	1.56%	0.26%
2	Axis Bank Ltd	1,406.78	98.26%	1.53%	0.21%
3	ICICI Bank	1,195.11	98.31%	1.46%	0.23%
4	Paytm Payments Bank	1,058.33	98.17%	1.59%	0.24%
5	State Bank Of India	672.74	98.17%	1.59%	0.24%
6	HDFC Bank Ltd	596.39	98.47%	1.33%	0.20%
7	IDFC FIRST Bank	23.00	97.51%	2.47%	0.02%
8	Kotak Mahindra Bank	12.37	97.76%	2.24%	0.00%
9	Airtel Payments Bank	9.11	95.63%	4.26%	0.11%
10	Federal Bank	4.92	97.44%	2.40%	0.16%
11	India Post Payment Bank	4.14	97.76%	2.22%	0.01%
12	RBL Bank	2.29	98.88%	1.07%	0.05%
13	Jio Payments Bank	1.58	94.85%	4.50%	0.64%
14	Deutsche Bank	1.32	99.94%	0.06%	0.00%
15	Bank of Baroda	1.28	89.14%	10.52%	0.34%

UPI Payee PSP Performance

UPI Payee PSP Performance (Feb'23)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd	2,728.98	99.45%	0.54%	0.01%
2	Paytm Payments Bank	1,734.74	99.56%	0.43%	0.00%
3	Axis Bank Ltd	915.58	98.99%	1.00%	0.00%
4	ICICI Bank	882.18	99.55%	0.43%	0.02%
5	HDFC Bank Ltd	351.19	98.99%	0.99%	0.02%
6	State Bank Of India	333.55	98.94%	0.86%	0.20%
7	Federal Bank	115.80	97.62%	1.94%	0.44%
8	IndusInd Bank	34.53	98.29%	1.58%	0.12%
9	Kotak Mahindra Bank	28.51	99.17%	0.82%	0.01%
10	IDFC FIRST Bank	22.78	89.05%	10.24%	0.70%
11	Airtel Payments Bank	21.85	97.65%	1.39%	0.96%
12	Cosmos Bank	21.77	77.80%	19.86%	2.34%
13	Citibank	11.24	98.68%	1.00%	0.32%
14	Bank of Baroda	7.51	86.93%	12.49%	0.58%
15	Canara Bank	6.68	99.19%	0.79%	0.03%

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 - February 23

UPI Merchant Category-wise Classification - February'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
	5816	Digital Goods – Games
	5541	Service stations (with or without ancillary services)
	5311	Department stores
	5912	Drug stores and pharmacies
	5462	Bakeries
	7299	Miscellaneous personal services not elsewhere classified
Medium Transacting Categories	6540	Debit card to wallet credit (Wallet top up)*
	4900	Utilities - electric, gas, water and sanitary
	5451	Dairies
	5813	Drinking places (alcoholic beverages) - bars, taverns, night-clubs, cocktail lounges and discothèques
	7322	Debt collection agencies
	5399	Miscellaneous general merchandise
	6012	Financial institutions - merchandise and services
	8999	Professional services not elsewhere classified
	5999	Miscellaneous and speciality retail outlets
	5422	Freezer and locker meat provisioners
All Other Categories	6211	Securities - brokers and dealers
	5499	Miscellaneous food shops convenience and speciality retail outlets
	9399	Government services - not elsewhere classified
	5732	Electronics shops
	4899	Cable and other pay television services
	4214	Motor freight carriers and trucking - local and long distance, moving and storage companies and local delivery
	7399	Business services not elsewhere classified
	4784	Tolls and bridge fees
	5172	Petroleum and petroleum products
	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 Member Remitter Performance (Jan'23)

UPI Remitter Banks - Top 50 Banks (Jan'23)
Sr. No.	UPI Remitter Banks (Jan-2023)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank Of India	2153.20	91.62%	6.19%	2.20%	12.00	96.00%
2	HDFC BANK LTD	708.14	95.29%	4.37%	0.35%	2.61	97.71%
3	Bank of Baroda	522.75	93.00%	6.12%	0.87%	2.83	82.99%
4	Union Bank of India	500.43	93.00%	6.60%	0.40%	2.31	81.66%
5	ICICI Bank	421.23	95.62%	3.34%	1.04%	2.22	91.47%
6	Axis Bank Ltd.	390.33	95.64%	3.88%	0.48%	1.24	90.07%
7	Paytm Payments Bank	389.61	96.32%	3.61%	0.07%	0.90	89.58%
8	Kotak Mahindra Bank	371.30	94.43%	4.72%	0.85%	2.26	15.20%
9	Canara Bank	369.95	93.21%	6.32%	0.47%	1.78	86.22%
10	Punjab National Bank	364.04	92.81%	5.57%	1.62%	3.46	53.26%
11	Bank of India	273.77	94.88%	4.50%	0.62%	1.33	75.07%
12	Indian Bank	213.14	93.64%	5.59%	0.77%	1.04	84.56%
13	Airtel Payments Bank	173.73	83.53%	15.88%	0.59%	0.83	97.11%
14	India Post Payment Bank	159.78	68.12%	18.91%	12.96%	2.75	70.58%
15	Federal Bank	133.32	94.54%	5.40%	0.06%	0.44	98.41%
16	Central Bank Of India	130.32	89.97%	8.88%	1.15%	1.24	78.08%
17	Indian Overseas Bank	104.67	94.07%	5.14%	0.79%	0.48	95.90%
18	IDBI Bank Limited	104.40	93.90%	3.97%	2.13%	0.72	86.08%
19	Bank of Maharashtra	94.74	94.02%	4.69%	1.29%	0.38	85.25%
20	UCO Bank	92.46	93.03%	6.03%	0.94%	0.61	68.02%
21	Yes Bank Ltd	75.46	95.40%	3.91%	0.69%	0.18	91.05%
22	INDUSIND BANK	74.98	93.48%	6.05%	0.47%	0.35	90.69%
23	IDFC FIRST Bank	72.81	94.38%	4.82%	0.79%	0.34	58.42%
24	Karnataka Bank	68.47	89.40%	9.21%	1.39%	0.25	77.61%
25	Fino Payments Bank	68.27	79.03%	15.53%	5.44%	1.13	50.39%
26	Karur Vysya Bank	43.55	92.38%	6.94%	0.68%	0.19	79.74%
27	Bandhan Bank	35.86	85.78%	8.82%	5.40%	0.54	69.17%
28	South Indian Bank	33.93	94.46%	5.26%	0.28%	0.11	87.34%
29	City Union Bank	24.81	92.78%	6.38%	0.84%	0.11	97.29%
30	Jammu and Kashmir Bank	24.02	91.59%	7.25%	1.16%	0.13	83.03%
31	Equitas Bank	23.44	84.67%	13.00%	2.33%	0.14	64.32%
32	Ujjivan Small Finance Bank	22.65	88.59%	6.97%	4.44%	0.21	49.41%
33	AU small Finance Bank	21.95	93.85%	6.01%	0.14%	0.10	97.88%
34	DBS Bank India Limited	21.51	95.60%	4.31%	0.09%	0.07	93.93%
35	Tamilnad Mercantile Bank	21.15	90.07%	8.34%	1.59%	0.11	54.00%
36	Punjab and Sind Bank	20.36	82.29%	16.78%	0.94%	0.15	69.58%
37	Standard Chartered	19.02	96.35%	2.67%	0.98%	0.10	84.74%
38	Citibank	18.45	95.06%	4.04%	0.90%	0.07	93.43%
39	Andhra Pradesh Grameena Vikas Bank	17.28	84.81%	11.32%	3.87%	0.11	44.79%
40	Pragathi Krishna Gramin Bank	16.31	86.54%	12.68%	0.78%	0.09	92.02%
41	Maharashtra Gramin Bank	16.24	79.69%	14.63%	5.68%	0.15	36.27%
42	Saraswat Bank	16.14	95.60%	3.84%	0.55%	0.05	74.67%
43	Kerala Gramin Bank	14.62	88.71%	10.47%	0.82%	0.08	86.36%
44	ESAF Small Finance Bank Ltd.	13.53	82.67%	16.20%	1.12%	0.05	84.62%
45	Rajasthan Marudhara Gramin Bank	13.29	80.76%	11.92%	7.32%	0.13	29.85%
46	Sarva Haryana Gramin Bank	10.72	79.36%	11.31%	9.33%	0.10	49.73%
47	RBL	10.64	90.93%	7.44%	1.63%	0.07	72.58%
48	Andhra Pragathi Grameena Bank	9.99	83.50%	13.64%	2.86%	0.13	14.05%
49	Baroda UP Gramin Bank	9.71	79.21%	11.93%	8.86%	0.15	35.44%
50	Baroda Rajasthan Kshetriya Gramin Bank	8.11	81.15%	9.94%	8.91%	0.12	29.79%

UPI Top 50 Member Beneficiary Performance (Jan'23)

UPI Beneficiary Banks - Top 50 Banks (Jan'23)
Sr.No.	UPI Beneficiary Banks (Jan-2023)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Paytm Payments Bank	1,765.87	99.73%	0.24%	0.02%	0.01%
2	Yes Bank Ltd	1,463.71	99.81%	0.08%	0.11%	0.02%
3	State Bank Of India	931.08	98.52%	0.22%	1.09%	0.17%
4	Axis Bank Ltd.	557.09	99.82%	0.11%	0.05%	0.02%
5	ICICI Bank	554.66	98.92%	0.34%	0.68%	0.05%
6	HDFC BANK LTD	401.11	99.15%	0.59%	0.20%	0.06%
7	Bank of Baroda	247.34	98.89%	0.28%	0.45%	0.37%
8	Union Bank of India	241.58	99.47%	0.24%	0.20%	0.09%
9	Canara Bank	186.89	99.37%	0.32%	0.22%	0.09%
10	Federal Bank	178.23	99.72%	0.27%	0.01%	0.00%
11	Punjab National Bank	176.63	98.41%	0.47%	0.93%	0.20%
12	Kotak Mahindra Bank	170.88	98.84%	0.50%	0.36%	0.30%
13	Bank of India	138.67	99.22%	0.25%	0.41%	0.11%
14	Airtel Payments Bank	108.80	98.80%	0.45%	0.45%	0.30%
15	Indian Bank	104.40	99.10%	0.29%	0.45%	0.17%
16	INDUSIND BANK	69.86	99.21%	0.31%	0.42%	0.06%
17	India Post Payment Bank	67.23	88.28%	1.39%	9.93%	0.40%
18	Central Bank Of India	65.86	98.48%	0.59%	0.48%	0.45%
19	Indian Overseas Bank	53.55	99.27%	0.24%	0.28%	0.21%
20	IDBI Bank Limited	50.98	98.37%	0.39%	0.98%	0.27%
21	IDFC FIRST Bank	49.12	97.50%	1.28%	0.95%	0.27%
22	UCO Bank	47.69	98.37%	0.76%	0.72%	0.15%
23	Bank of Maharashtra	40.78	97.54%	0.31%	1.96%	0.19%
24	Karnataka Bank	32.13	97.12%	0.72%	2.09%	0.07%
25	Karur Vysya Bank	25.90	99.00%	0.47%	0.43%	0.10%
26	Fino Payments Bank	23.15	93.70%	1.96%	3.42%	0.92%
27	South Indian Bank	22.95	99.31%	0.47%	0.19%	0.03%
28	Bandhan Bank	21.74	94.22%	0.48%	4.97%	0.33%
29	AU small Finance Bank	16.74	98.23%	1.67%	0.10%	0.01%
30	City Union Bank	13.81	98.68%	0.72%	0.52%	0.08%
31	Tamilnad Mercantile Bank	13.05	97.42%	0.84%	1.56%	0.18%
32	CITI	12.32	99.80%	0.00%	0.06%	0.14%
33	Ujjivan Small Finance Bank	12.16	95.24%	0.30%	4.01%	0.45%
34	Equitas Bank	11.81	95.43%	2.40%	1.97%	0.20%
35	Punjab and Sind Bank	9.20	99.06%	0.21%	0.57%	0.16%
36	Kerala Gramin Bank	9.19	98.94%	0.47%	0.30%	0.28%
37	Pragathi Krishna Gramin Bank	9.08	99.04%	0.40%	0.29%	0.28%
38	Jammu and Kashmir Bank	8.93	98.78%	0.52%	0.66%	0.04%
39	DBS Bank India Limited	8.93	98.35%	1.49%	0.03%	0.13%
40	Andhra Pradesh Grameena Vikas Bank	8.77	97.47%	0.12%	1.97%	0.43%
41	Maharashtra Gramin Bank	7.54	97.16%	0.64%	1.79%	0.40%
42	ESAF Small Finance Bank Ltd.	7.13	99.08%	0.19%	0.69%	0.04%
43	RBL	6.98	97.73%	1.33%	0.78%	0.16%
44	Rajasthan Marudhara Gramin Bank	6.82	95.99%	0.39%	3.23%	0.40%
45	Baroda UP Gramin Bank	6.53	88.73%	2.25%	8.17%	0.84%
46	Saraswat Bank	6.22	99.31%	0.23%	0.39%	0.08%
47	Andhra Pragathi Grameena Bank	5.78	97.24%	0.56%	2.12%	0.08%
48	Sarva Haryana Gramin Bank	5.07	90.27%	0.67%	8.79%	0.27%
49	Baroda Rajasthan Kshetriya Gramin Bank	4.64	90.05%	2.30%	6.84%	0.81%
50	Karnataka Vikas Grameena Bank	3.98	98.50%	0.24%	1.10%	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.
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 (Jan'23)

UPI Apps (Jan'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	9.77	834.52	-	-	0.00	0.02	0.00	0.10	9.77	834.63
2	Allahabad Bank Apps	0.03	9.17	-	-	-	-	-	-	0.03	9.17
3	Amazon Pay	57.75	5,797.03	-	-	-	-	-	-	57.75	5,797.03
4	AU Small Finance Bank Apps	0.58	181.45	-	-	-	-	-	-	0.58	181.45
5	Axis Bank Apps	8.24	1,419.65	48.00	43.47	0.03	4.51	-	-	56.28	1,467.64
6	Bajaj Finserv	5.01	812.40	-	-	-	-	-	-	5.01	812.40
7	Bajaj Markets	0.01	0.50	-	-	-	-	-	-	0.01	0.50
8	Bandhan Bank Apps	0.01	1.47	-	-	-	-	-	-	0.01	1.47
9	Bank of Baroda Apps	1.10	423.46	-	-	0.00	0.00	-	-	1.10	423.46
10	Bank of India Apps	0.24	70.34	-	-	-	-	-	-	0.24	70.34
11	Bank of Maharashtra Apps	0.08	20.39	-	-	-	-	-	-	0.08	20.39
12	BHIM	24.96	8,164.65	-	-	-	-	-	-	24.96	8,164.65
13	Canara Bank Apps	1.08	289.29	-	-	-	-	-	-	1.08	289.29
14	Central Bank of India Apps	0.31	68.65	-	-	0.00	0.02	-	-	0.31	68.68
15	Citi Bank Apps	0.12	71.81	-	-	0.00	0.00	-	-	0.12	71.81
16	City Union Bank Apps	0.05	15.51	-	-	-	-	-	-	0.05	15.51
17	Cointab	0.05	21.16	-	-	-	-	-	-	0.05	21.16
18	Cred	35.18	19,106.82	-	-	-	-	-	-	35.18	19,106.82
19	DBS Digibank Apps	0.41	174.02	-	-	-	-	-	-	0.41	174.02
20	Deutsche Bank Apps	1.30	131.72	-	-	0.02	18.58	-	-	1.31	150.29
21	Dhanlaxmi Bank Apps	0.01	2.76	-	-	-	-	-	-	0.01	2.76
22	Equitas Small Finance Bank Apps	0.02	13.02	-	-	-	-	-	-	0.02	13.02
23	Eroute	0.08	2.29	-	-	-	-	-	-	0.08	2.29
24	Fampay PPI	12.80	175.63	-	-	0.00	0.01	-	-	12.80	175.64
25	Fave	0.11	7.87	-	-	-	-	-	-	0.11	7.87
26	Federal Bank Apps	4.72	604.60	-	-	0.00	0.00	-	-	4.72	604.61
27	Fino Payments bank Apps	0.11	7.51	-	-	-	-	-	-	0.11	7.51
28	GoIbibo	0.01	1.60	-	-	-	-	-	-	0.01	1.60
29	Google Pay	2,782.42	443,725.01	-	-	-	-	-	-	2,782.42	443,725.01
30	Groww	0.19	152.17	-	-	-	-	-	-	0.19	152.17
31	HDFC Bank Apps	12.30	3,324.64	-	-	0.00	0.16	-	-	12.30	3,324.81
32	HSBC Bank Apps	0.13	75.54	0.00	0.04	0.00	0.00	-	-	0.13	75.58
33	ICICI Bank Apps	32.96	8,950.32	5.27	376.42	6.90	7,761.41	-	-	45.14	17,088.16
34	IDBI Bank Apps	0.07	30.81	-	-	-	-	-	-	0.07	30.81
35	IDFC Bank Apps	10.82	1,635.62	-	-	0.66	586.58	-	-	11.47	2,222.20
36	India Post Payments Bank Apps	5.43	707.37	-	-	-	-	-	-	5.43	707.37
37	Indian Bank Apps	0.26	73.38	-	-	-	-	-	-	0.26	73.38
38	Indian Overseas Bank Apps	0.01	2.31	-	-	-	-	-	-	0.01	2.31
39	IndusInd Bank Apps	0.84	962.09	-	-	-	-	-	-	0.84	962.09
40	Janata Sahakari Bank Apps	0.01	3.98	-	-	-	-	-	-	0.01	3.98
41	Jio Payments Bank Apps	1.59	108.84	-	-	-	-	-	-	1.59	108.84
42	Jupiter	2.49	323.88	-	-	-	-	-	-	2.49	323.88
43	Karnataka Bank Apps	0.40	85.81	-	-	-	-	-	-	0.40	85.81
44	Karur Vysya Bank Apps	0.04	15.27	-	-	-	-	-	-	0.04	15.27
45	Kotak Mahindra Bank Apps	12.14	2,612.59	-	-	0.00	0.01	-	-	12.14	2,612.60
46	MakeMyTrip	0.08	35.59	-	-	-	-	-	-	0.08	35.59
47	Mobikwik	3.49	785.48	-	-	-	-	-	-	3.49	785.48
48	NSDL Payments Bank Apps	0.02	3.00	-	-	-	-	-	-	0.02	3.00
50	Paytm Payments Bank App	1,076.75	119,647.31	7.75	18.10	0.46	638.22	105.94	19,369.36	1,190.89	139,673.00
51	PhonePe	3,802.67	651,108.51	-	-	-	-	-	-	3,802.67	651,108.51
52	Punjab National Bank Apps	0.25	82.15	-	-	0.00	0.00	-	-	0.25	82.15
53	Punjab Sind Bank Apps	0.04	13.08	-	-	-	-	-	-	0.04	13.08
54	RBL Bank Apps	1.22	241.36	0.00	0.00	0.09	1.52	-	-	1.32	242.88
55	Samsung Pay	5.52	523.73	-	-	-	-	-	-	5.52	523.73
56	Slash	0.01	0.68	-	-	-	-	-	-	0.01	0.68
57	slice	0.22	45.82	-	-	-	-	-	-	0.22	45.82
58	South Indian Bank Apps	0.19	56.75	-	-	-	-	-	-	0.19	56.75
59	Standard Chartered Bank Apps	0.15	85.16	0.00	0.00	-	-	-	-	0.15	85.16
60	State Bank of India Apps	4.06	1,901.92	-	-	0.00	0.00	-	-	4.06	1,901.92
61	Tamilnad Mercantile Bank Apps	0.07	11.67	-	-	-	-	-	-	0.07	11.67
62	TataNeu	0.11	14.79	-	-	-	-	-	-	0.11	14.79
63	Transerv	0.01	0.71	-	-	-	-	-	-	0.01	0.71
64	UCO Bank Apps	0.32	101.06	-	-	-	-	-	-	0.32	101.06
65	Ultracash	0.04	2.25	-	-	-	-	-	-	0.04	2.25
66	Union Bank Apps	0.80	303.93	-	-	-	-	-	-	0.80	303.93
67	Utkarsh Small Finance Bank Apps	0.02	8.35	-	-	-	-	-	-	0.02	8.35
68	WhatsApp	11.47	963.12	-	-	-	-	-	-	11.47	963.12
69	Yes Bank Apps	33.37	12,047.35	-	-	0.59	69.27	-	-	33.96	12,116.61
70	Others	0.02	5.57	0.00	0.00	0.00	0.00	0.00	0.00	0.02	5.57

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)
Jan'23	8,036.89	12,98,726.62	3,625.95	9,97,781.02	4,410.94	3,00,945.60

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 (Jan'23)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd	2,824.37	98.58%	1.41%	0.02%
2	Axis Bank Ltd	1,479.23	98.59%	1.40%	0.01%
3	ICICI Bank	1,252.34	98.66%	1.30%	0.03%
4	Paytm Payments Bank	1,100.84	98.56%	1.43%	0.02%
5	State Bank Of India	710.82	98.41%	1.57%	0.01%
6	HDFC Bank Ltd	686.19	98.93%	1.06%	0.01%
7	IDFC FIRST Bank	24.84	98.21%	1.78%	0.01%
8	Kotak Mahindra Bank	12.41	97.80%	2.19%	0.01%
9	Airtel Payments Bank	10.12	96.48%	3.48%	0.05%
10	India Post Payment Bank	5.53	98.15%	1.84%	0.01%
11	Federal Bank	4.88	97.60%	2.35%	0.05%
12	RBL Bank	1.85	98.56%	1.44%	0.01%
13	Jio Payments Bank	1.67	95.20%	4.47%	0.33%
14	Deutsche Bank	1.32	99.94%	0.06%	0.00%
15	Bank of Baroda	1.22	90.02%	9.97%	0.01%

UPI Payee PSP Performance

UPI Payee PSP Performance (Jan'23)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd	2,932.04	99.58%	0.38%	0.04%
2	Paytm Payments Bank	1,822.61	99.76%	0.23%	0.00%
3	Axis Bank Ltd	973.07	99.12%	0.79%	0.09%
4	ICICI Bank	920.02	99.06%	0.92%	0.02%
5	HDFC Bank Ltd	377.04	99.14%	0.85%	0.01%
6	State Bank Of India	372.77	99.08%	0.78%	0.13%
7	Federal Bank	119.24	99.75%	0.23%	0.01%
8	IndusInd Bank	33.06	97.45%	1.53%	1.03%
9	Kotak Mahindra Bank	30.26	99.06%	0.78%	0.16%
10	Airtel Payments Bank	27.65	97.58%	1.53%	0.89%
11	IDFC FIRST Bank	21.55	97.12%	1.82%	1.06%
12	Cosmos Bank	15.89	93.33%	5.09%	1.58%
13	Citibank	12.49	98.76%	0.92%	0.32%
14	Bank of Baroda	7.17	98.48%	1.13%	0.39%
15	Canara Bank	6.84	99.33%	0.58%	0.09%

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 - January 23

UPI Merchant Category-wise Classification - January'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
	7299	Miscellaneous personal services not elsewhere classified
	5816	Digital Goods – Games
	5814	Fast food restaurants
	5541	Service stations (with or without ancillary services)
	5499	Miscellaneous food shops convenience and speciality retail outlets
	5311	Department stores
	5912	Drug stores and pharmacies
Medium Transacting Categories	5999	Miscellaneous and speciality retail outlets
	5399	Miscellaneous general merchandise
	5462	Bakeries
	4900	Utilities - electric, gas, water and sanitary
	7322	Debt collection agencies
	5813	Drinking places (alcoholic beverages) - bars, taverns, night-clubs, cocktail lounges and discothèques
	5451	Dairies
	6540	Debit card to wallet credit (Wallet top up)
	6012	Financial institutions - merchandise and services
	5699	Miscellaneous apparel and accessory shops
All Other Categories	8999	Professional services not elsewhere classified
	6211	Securities - brokers and dealers
	5422	Freezer and locker meat provisioners
	9399	Government services - not elsewhere classified
	4899	Cable and other pay television services
	7399	Business services not elsewhere classified
	5732	Electronics shops
	4214	Motor freight carriers and trucking - local and long distance, moving and storage companies and local delivery
	7230	Beauty and barber shops
	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 Member Remitter Performance (Dec'22)

UPI Remitter Banks - Top 50 Banks (Dec'22)
Sr. No.	UPI Remitter Banks (Dec-2022)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank Of India	2,128.94	91.25%	6.30%	2.45%	14.35	95.90%
2	HDFC Bank Ltd	700.19	94.08%	5.23%	0.69%	4.32	92.33%
3	Bank of Baroda	509.92	88.84%	6.30%	4.86%	5.54	72.57%
4	Union Bank of India	487.38	91.84%	7.01%	1.15%	3.59	69.01%
5	ICICI Bank	426.32	95.23%	3.60%	1.17%	3.11	65.75%
6	Axis Bank Ltd	397.64	95.47%	4.24%	0.29%	1.93	85.19%
7	Paytm Payments Bank	386.50	95.96%	3.89%	0.15%	1.94	72.44%
8	Canara Bank	361.00	92.66%	6.85%	0.49%	2.62	93.23%
9	Punjab National Bank	354.80	93.44%	5.53%	1.03%	1.32	92.35%
10	Kotak Mahindra Bank	351.80	93.90%	4.83%	1.27%	1.24	80.49%
11	Bank of India	268.67	94.98%	4.81%	0.20%	1.57	73.26%
12	Indian Bank	206.07	93.35%	5.78%	0.88%	0.89	97.07%
13	Airtel Payments Bank	154.16	84.90%	14.55%	0.56%	2.89	55.90%
14	India Post Payment Bank	147.96	69.58%	17.68%	12.74%	1.21	77.04%
15	Federal Bank	131.59	93.45%	6.49%	0.06%	1.06	81.40%
16	Central Bank Of India	128.39	88.58%	9.87%	1.55%	0.57	99.15%
17	Indian Overseas Bank	104.59	90.82%	5.56%	3.62%	0.85	85.16%
18	IDBI Bank Limited	102.97	94.47%	4.14%	1.38%	0.62	82.76%
19	Bank of Maharashtra	93.22	92.99%	4.78%	2.23%	0.76	53.95%
20	UCO Bank	89.57	93.20%	6.10%	0.70%	0.47	80.82%
21	IndusInd Bank	72.70	92.84%	6.17%	0.99%	0.53	69.75%
22	Karnataka Bank	67.08	91.40%	7.76%	0.84%	0.34	86.90%
23	IDFC FIRST Bank	66.27	92.59%	5.95%	1.46%	0.31	82.55%
24	Fino Payments Bank	58.33	82.72%	16.02%	1.25%	0.39	67.43%
25	Yes Bank Ltd	48.46	92.60%	6.72%	0.68%	0.31	94.40%
26	Karur Vysya Bank	43.70	91.30%	7.29%	1.41%	0.27	49.34%
27	South Indian Bank	34.00	93.02%	5.39%	1.59%	0.15	89.88%
28	Bandhan Bank	33.77	89.66%	8.33%	2.01%	0.18	90.10%
29	City Union Bank	24.42	92.51%	6.51%	0.98%	0.14	84.01%
30	Equitas Small Finance Bank	23.33	85.78%	13.19%	1.03%	0.35	37.35%
31	Jammu and Kashmir Bank	22.34	88.91%	7.85%	3.24%	0.13	91.73%
32	Ujjivan Small Finance Bank	22.10	87.15%	7.48%	5.36%	0.16	48.84%
33	AU small Finance Bank	21.24	93.14%	5.81%	1.05%	0.09	88.71%
34	Tamilnad Mercantile Bank	20.67	91.71%	8.06%	0.24%	0.13	53.45%
35	DBS Bank Ltd	20.13	93.49%	4.71%	1.80%	0.07	98.94%
36	Punjab and Sind Bank	20.12	83.64%	9.77%	6.59%	0.17	67.49%
37	Standard Chartered	19.53	96.71%	2.74%	0.55%	0.08	82.40%
38	Citibank	19.24	94.91%	4.13%	0.97%	0.15	44.43%
39	Andhra Pradesh Grameena Vikas Bank	17.34	82.80%	13.36%	3.84%	0.10	93.76%
40	Maharashtra Gramin Bank	16.64	71.35%	23.55%	5.10%	0.20	31.55%
41	Pragathi Krishna Gramin Bank	16.46	84.14%	13.76%	2.10%	0.19	40.99%
42	Saraswat Bank	15.79	95.72%	3.58%	0.69%	0.16	41.02%
43	Kerala Gramin Bank	14.09	87.55%	11.16%	1.29%	0.07	83.59%
44	ESAF Small Finance Bank Ltd.	12.97	84.18%	13.67%	2.15%	0.11	84.66%
45	Rajasthan Marudhara Gramin Bank	12.33	81.74%	12.24%	6.03%	0.09	62.81%
46	Sarva Haryana Gramin Bank	11.05	76.50%	16.82%	6.68%	0.07	98.88%
47	Andhra Pragathi Grameena Bank	10.58	79.84%	14.92%	5.24%	0.07	70.93%
48	RBL Bank	10.28	88.19%	7.50%	4.30%	0.09	56.49%
49	Baroda UP Gramin Bank	8.57	82.44%	13.17%	4.40%	0.09	56.53%
50	Baroda Rajasthan Kshetriya Gramin Bank	7.68	85.52%	11.49%	2.99%	0.17	47.53%

UPI Top 50 Member Beneficiary Performance (Dec'22)

UPI Beneficiary Banks - Top 50 Banks (Dec'22)
Sr.No.	UPI Beneficiary Banks (Dec-2022)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Paytm Payments Bank	1,726.94	99.71%	0.22%	0.06%	0.02%
2	Yes Bank Ltd	1,309.96	99.82%	0.06%	0.11%	0.01%
3	State Bank Of India	938.15	97.92%	0.21%	1.71%	0.16%
4	Axis Bank Ltd.	562.51	99.77%	0.12%	0.05%	0.06%
5	ICICI Bank	543.27	98.88%	0.38%	0.71%	0.04%
6	HDFC Bank Ltd	384.38	98.72%	0.61%	0.51%	0.17%
7	Bank of Baroda	249.01	94.55%	0.38%	4.59%	0.48%
8	Union Bank of India	242.13	98.96%	0.27%	0.58%	0.19%
9	Canara Bank	185.71	99.21%	0.43%	0.24%	0.12%
10	Federal Bank	175.68	99.69%	0.29%	0.02%	0.00%
11	Punjab National Bank	174.36	98.27%	0.83%	0.71%	0.19%
12	Kotak Mahindra Bank	157.66	97.61%	0.51%	1.63%	0.25%
13	Bank of India	137.98	99.59%	0.25%	0.11%	0.05%
14	Indian Bank	101.77	98.92%	0.27%	0.57%	0.23%
15	Airtel Payments Bank	93.38	98.79%	0.53%	0.37%	0.30%
16	IndusInd Bank	66.04	98.59%	0.43%	0.80%	0.17%
17	Central Bank Of India	65.03	98.05%	0.59%	0.78%	0.57%
18	India Post Payment Bank	64.48	87.39%	1.92%	10.08%	0.61%
19	Indian Overseas Bank	53.54	97.11%	0.23%	1.96%	0.70%
20	IDBI Bank Limited	51.55	98.65%	0.41%	0.65%	0.29%
21	UCO Bank	47.42	98.64%	0.68%	0.59%	0.09%
22	IDFC FIRST Bank	42.48	96.75%	1.39%	1.62%	0.25%
23	Bank of Maharashtra	40.68	97.13%	0.30%	2.03%	0.53%
24	Karnataka Bank	32.03	98.33%	0.80%	0.82%	0.06%
25	Karur Vysya Bank	26.40	98.56%	0.50%	0.84%	0.10%
26	South Indian Bank	22.97	98.69%	0.65%	0.62%	0.04%
27	Bandhan Bank	21.26	97.22%	0.37%	2.28%	0.12%
28	Fino Payments Bank	20.73	96.94%	2.12%	0.70%	0.24%
29	AU small Finance Bank	16.42	97.82%	1.48%	0.58%	0.12%
30	Citibank	12.51	97.50%	0.00%	0.06%	0.14%
31	City Union Bank	13.70	98.57%	0.71%	0.61%	0.10%
32	Tamilnad Mercantile Bank	12.84	99.56%	0.26%	0.16%	0.02%
33	Ujjivan Small Finance Bank	12.02	94.27%	0.29%	4.84%	0.60%
34	Equitas Small Finance Bank	11.67	97.34%	1.83%	0.72%	0.11%
35	Punjab and Sind Bank	9.67	94.60%	0.21%	4.85%	0.34%
36	Pragathi Krishna Gramin Bank	9.10	98.06%	0.44%	0.95%	0.55%
37	Kerala Gramin Bank	8.99	98.38%	0.76%	0.49%	0.37%
38	Jammu and Kashmir Bank	8.83	96.99%	0.59%	2.21%	0.21%
39	Andhra Pradesh Grameena Vikas Bank	8.72	97.46%	0.33%	1.81%	0.39%
40	DBS Bank Ltd	8.49	95.01%	1.34%	3.48%	0.17%
41	ESAF Small Finance Bank Ltd.	7.11	98.28%	0.23%	1.41%	0.09%
42	Maharashtra Gramin Bank	7.11	97.08%	0.76%	1.80%	0.36%
43	Rajasthan Marudhara Gramin Bank	6.52	96.00%	0.31%	3.20%	0.49%
44	RBL Bank	6.32	95.22%	1.40%	2.48%	0.90%
45	Saraswat Bank	6.23	99.18%	0.23%	0.44%	0.15%
46	Andhra Pragathi Grameena Bank	5.94	93.76%	0.99%	4.97%	0.28%
47	Baroda UP Gramin Bank	5.87	93.84%	2.39%	3.42%	0.35%
48	Sarva Haryana Gramin Bank	5.01	92.62%	0.49%	6.61%	0.29%
49	Baroda Rajasthan Kshetriya Gramin Bank	4.41	95.13%	2.39%	2.26%	0.22%
50	Karnataka Vikas Grameena Bank	4.01	97.40%	0.00%	2.19%	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 (Dec'22)

UPI Apps (Dec'22)
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	8.69	681.55	-	-	0.00	0.00	0.00	0.12	8.70	681.67
2	Allahabad Bank Apps	0.03	9.75	-	-	-	-	-	-	0.03	9.75
3	Amazon Pay	69.61	6,621.66	-	-	-	-	-	-	69.61	6,621.66
4	AU Small Finance Bank Apps	0.58	177.47	-	-	-	-	-	-	0.58	177.47
5	Axis Bank Apps	7.26	1,246.36	58.27	56.30	0.03	2.44	-	-	65.56	1,305.09
6	Bajaj Finserv	4.56	647.71	-	-	-	-	-	-	4.56	647.71
7	Bandhan Bank Apps	0.01	1.53	-	-	-	-	-	-	0.01	1.53
8	Bank of Baroda Apps	1.02	397.56	-	-	0.00	0.00	-	-	1.02	397.56
9	Bank of India Apps	0.22	64.32	-	-	-	-	-	-	0.22	64.32
10	Bank of Maharashtra Apps	0.08	19.91	-	-	-	-	-	-	0.08	19.91
11	BHIM	25.50	8,400.04	-	-	-	-	-	-	25.50	8,400.04
12	Canara Bank Apps	1.02	275.70	-	-	-	-	-	-	1.02	275.70
13	Central Bank of India Apps	0.26	60.28	-	-	0.00	0.05	-	-	0.26	60.32
14	Citi Bank Apps	0.09	68.38	-	-	0.00	0.00	-	-	0.09	68.38
15	City Union Bank Apps	0.05	14.38	-	-	-	-	-	-	0.05	14.38
16	Cointab	0.05	18.98	-	-	-	-	-	-	0.05	18.98
17	Cred	31.42	19,622.29	-	-	-	-	-	-	31.42	19,622.29
18	DBS Digibank Apps	0.41	171.59	-	-	-	-	-	-	0.41	171.59
19	Deutsche Bank Apps	1.28	104.47	-	-	0.00	0.01	-	-	1.28	104.49
20	Dhanlaxmi Bank Apps	0.01	3.16	-	-	-	-	-	-	0.01	3.16
21	Equitas Small Finance Bank Apps	0.02	11.69	-	-	-	-	-	-	0.02	11.69
22	Fampay PPI	9.70	127.18	-	-	0.00	0.01	-	-	9.70	127.19
23	Fave	0.08	5.01	-	-	-	-	-	-	0.08	5.01
24	Federal Bank Apps	4.57	595.17	-	-	0.00	0.01	-	-	4.57	595.18
25	Fino Payments bank Apps	0.11	7.49	-	-	-	-	-	-	0.11	7.49
26	Google Pay	2,712.34	440,370.99	-	-	-	-	-	-	2,712.34	440,370.99
27	Groww	0.21	153.02	-	-	-	-	-	-	0.21	153.02
28	HDFC Bank Apps	11.81	3,143.08	-	-	0.00	0.15	-	-	11.81	3,143.24
29	HSBC Bank Apps	0.15	78.59	0.00	0.05	0.00	0.00	-	-	0.15	78.63
30	ICICI Bank Apps	36.74	8,815.95	5.17	418.68	6.38	6,890.51	-	-	48.29	16,125.15
31	IDBI Bank Apps	0.07	29.50	-	-	-	-	-	-	0.07	29.50
32	IDFC Bank Apps	9.55	1,184.60	-	-	0.16	138.38	-	-	9.70	1,322.98
33	India Post Payments Bank Apps	5.55	682.59	-	-	-	-	-	-	5.55	682.59
34	Indian Bank Apps	0.25	73.71	-	-	0.00	0.00	-	-	0.25	73.71
35	Indian Overseas Bank Apps	0.01	2.90	-	-	-	-	-	-	0.01	2.90
36	IndusInd Bank Apps	1.26	1,062.40	-	-	-	-	-	-	1.26	1,062.40
37	Janata Sahakari Bank Apps	0.01	4.58	-	-	-	-	-	-	0.01	4.58
38	Jio Payments Bank Apps	1.48	104.71	-	-	-	-	-	-	1.48	104.71
39	Jupiter	2.53	318.03	-	-	-	-	-	-	2.53	318.03
40	Karnataka Bank Apps	0.48	91.09	-	-	-	-	-	-	0.48	91.09
41	Karur Vysya Bank Apps	0.04	14.87	-	-	-	-	-	-	0.04	14.87
42	Kotak Mahindra Bank Apps	11.53	2,480.17	-	-	0.00	0.01	-	-	11.53	2,480.18
43	MakeMyTrip	0.10	52.30	-	-	-	-	-	-	0.10	52.30
44	Mobikwik	3.62	806.82	-	-	-	-	-	-	3.62	806.82
45	NSDL Payments Bank Apps	0.02	2.95	-	-	-	-	-	-	0.02	2.95
46	Paytm Payments Bank App	1,054.05	118,069.81	6.08	16.86	0.43	580.52	109.79	20,154.47	1,170.34	138,821.66
47	PhonePe	3,674.24	639,348.78	-	-	-	-	-	-	3,674.24	639,348.78
48	Punjab National Bank Apps	0.22	76.70	-	-	-	-	-	-	0.22	76.70
49	Punjab Sind Bank Apps	0.03	10.48	-	-	-	-	-	-	0.03	10.48
50	RBL Bank Apps	0.92	214.40	0.00	0.01	0.18	0.89	-	-	1.10	215.30
51	Samsung Pay	5.49	531.12	-	-	-	-	-	-	5.49	531.12
52	Slash	0.01	0.79	-	-	-	-	-	-	0.01	0.79
53	Slice	0.15	15.74	-	-	-	-	-	-	0.15	15.74
54	South Indian Bank Apps	0.18	53.20	-	-	-	-	-	-	0.18	53.20
55	Standard Chartered Bank Apps	0.16	90.42	0.00	0.00	0.00	0.00	-	-	0.16	90.42
56	State Bank of India Apps	4.22	1,928.43	-	-	0.00	0.00	-	-	4.22	1,928.43
57	Tamilnad Mercantile Bank Apps	0.08	12.13	-	-	-	-	-	-	0.08	12.13
58	TataNeu	0.15	17.64	-	-	-	-	-	-	0.15	17.64
59	UCO Bank Apps	0.31	93.32	-	-	-	-	-	-	0.31	93.32
60	Ultracash	0.03	1.65	-	-	-	-	-	-	0.03	1.65
61	Union Bank Apps	0.92	310.63	-	-	-	-	-	-	0.92	310.63
62	Utkarsh Small Finance Bank Apps	0.02	7.81	-	-	-	-	-	-	0.02	7.81
63	WhatsApp	11.05	917.49	-	-	-	-	-	-	11.05	917.49
64	Yes Bank Apps	35.98	13,324.11	0.00	0.00	0.18	91.35	-	-	36.16	13,415.46
65	Others	0.03	7.64	-	-	0.00	0.00	-	-	0.03	7.64

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)
Dec'22	7,829.49	12,82,055.01	3,602.19	9,91,748.31	4,227.30	2,90,306.69

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 (Dec'22)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd	2,760.70	98.38%	1.61%	0.01%
2	Axis Bank Ltd	1,466.35	98.42%	1.57%	0.01%
3	ICICI Bank	1,252.92	98.51%	1.48%	0.01%
4	Paytm Payments Bank	1,078.75	98.31%	1.68%	0.01%
5	HDFC Bank Ltd	693.09	98.69%	1.30%	0.01%
6	State Bank Of India	613.07	98.22%	1.76%	0.01%
7	IDFC FIRST Bank	20.00	97.57%	2.42%	0.01%
8	Kotak Mahindra Bank	11.83	97.45%	2.55%	0.01%
9	Airtel Payments Bank	9.07	95.82%	4.12%	0.06%
10	India Post Payment Bank	5.67	97.99%	1.99%	0.02%
11	Federal Bank	4.73	97.70%	2.29%	0.01%
12	RBL Bank	1.70	98.09%	1.90%	0.01%
13	Jio Payments Bank	1.56	94.97%	4.74%	0.29%
14	IndusInd Bank	1.30	97.25%	1.44%	1.30%
15	Deutsche Bank	1.29	99.92%	0.08%	0.00%

UPI Payee PSP Performance

UPI Payee PSP Performance (Dec'22)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd	2,850.04	99.37%	0.44%	0.19%
2	Paytm Payments Bank	1,775.35	99.23%	0.75%	0.02%
3	Axis Bank Ltd	979.12	99.00%	0.92%	0.08%
4	ICICI Bank	898.83	99.03%	0.89%	0.08%
5	HDFC Bank Ltd	372.15	98.38%	1.46%	0.16%
6	State Bank Of India	370.13	99.17%	0.66%	0.17%
7	Federal Bank	116.45	99.68%	0.28%	0.04%
8	IndusInd Bank	30.84	96.01%	2.26%	1.72%
9	Kotak Mahindra Bank	20.39	99.05%	0.64%	0.31%
10	Airtel Payments Bank	19.83	98.14%	1.31%	0.55%
11	IDFC FIRST Bank	17.90	95.75%	2.97%	1.28%
12	Citibank	12.59	99.39%	0.60%	0.01%
13	Cosmos Bank	9.66	97.93%	1.55%	0.51%
14	Bank of Baroda	7.54	91.44%	6.09%	2.47%
15	Canara Bank	6.60	99.10%	0.57%	0.33%

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 - December 22

UPI Merchant Category-wise Classification - December'22
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
	7299	Miscellaneous personal services not elsewhere classified
	5541	Service stations (with or without ancillary services)
	5814	Fast food restaurants
	5816	Digital Goods – Games
	5499	Miscellaneous food shops convenience and speciality retail outlets
	5311	Department stores
	5912	Drug stores and pharmacies
Medium Transacting Categories	5999	Miscellaneous and speciality retail outlets
	5462	Bakeries
	5399	Miscellaneous general merchandise
	4900	Utilities - electric, gas, water and sanitary
	7322	Debt collection agencies
	5813	Drinking places (alcoholic beverages) - bars, taverns, night-clubs, cocktail lounges and discothèques
	5451	Dairies
	6540	Debit card to wallet credit (Wallet top up)
	6012	Financial institutions - merchandise and services
	5699	Miscellaneous apparel and accessory shops
All Other Categories	8999	Professional services not elsewhere classified
	4899	Cable and other pay television services
	9399	Government services - not elsewhere classified
	6211	Securities - brokers and dealers
	5422	Freezer and locker meat provisioners
	4214	Motor freight carriers and trucking - local and long distance, moving and storage companies and local delivery
	5732	Electronics shops
	7399	Business services not elsewhere classified
	7230	Beauty and barber shops
	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 Member Remitter Performance (Nov'22)

UPI Remitter Banks - Top 50 Banks (Nov'22)
Sr. No.	UPI Remitter Banks (Nov-2022)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank Of India	1,951.85	92.82%	6.30%	0.88%	8.51	80.40%
2	HDFC Bank Ltd	649.64	94.68%	5.16%	0.16%	2.29	99.46%
3	Bank of Baroda	475.43	93.69%	6.17%	0.15%	1.69	99.38%
4	Union Bank of India	447.27	92.47%	7.07%	0.46%	2.04	78.57%
5	ICICI Bank	396.06	94.60%	4.75%	0.65%	2.91	67.84%
6	Axis Bank Ltd	384.42	96.02%	3.83%	0.15%	2.04	67.34%
7	Paytm Payments Bank	364.00	96.01%	3.82%	0.17%	1.66	93.60%
8	Canara Bank	332.82	92.47%	6.32%	1.21%	1.34	72.91%
9	Punjab National Bank	328.34	92.48%	5.61%	1.90%	1.21	77.31%
10	Kotak Mahindra Bank	325.86	94.62%	5.07%	0.31%	1.18	71.21%
11	Bank of India	249.69	94.97%	4.38%	0.65%	1.10	69.29%
12	Indian Bank	188.36	93.72%	5.57%	0.71%	0.98	70.54%
13	Airtel Payments Bank	140.25	81.21%	13.36%	5.43%	1.78	45.26%
14	Federal Bank	122.16	93.88%	5.53%	0.59%	0.94	74.30%
15	India Post Payment Bank	121.93	81.41%	15.23%	3.36%	1.02	73.79%
16	Central Bank Of India	117.72	88.09%	8.95%	2.96%	0.47	91.37%
17	Indian Overseas Bank	95.82	93.58%	5.27%	1.15%	0.49	94.66%
18	IDBI Bank Limited	95.50	94.39%	4.27%	1.35%	0.52	75.92%
19	Bank of Maharashtra	87.16	93.61%	4.69%	1.70%	0.87	47.79%
20	UCO Bank	83.44	91.91%	5.84%	2.26%	0.60	94.87%
21	Yes Bank Ltd	80.19	94.81%	4.34%	0.85%	0.30	93.50%
22	INDUSIND BANK	66.86	93.88%	5.68%	0.44%	0.34	80.08%
23	Karnataka Bank	62.76	85.92%	7.53%	6.55%	0.30	83.33%
24	IDFC FIRST Bank	56.30	89.48%	5.99%	4.53%	1.01	29.94%
25	Fino Payments Bank	54.03	81.88%	16.09%	2.03%	0.43	47.55%
26	Karur Vysya Bank	40.64	91.68%	7.13%	1.19%	0.26	56.68%
27	South Indian Bank	31.42	93.95%	5.87%	0.18%	0.24	93.38%
28	Bandhan Bank	31.07	90.25%	6.53%	3.22%	0.11	98.27%
29	City Union Bank	22.51	92.79%	6.28%	0.93%	0.15	64.69%
30	Equitas Bank	21.51	86.38%	13.09%	0.53%	0.10	96.99%
31	Jammu and Kashmir Bank	21.45	87.84%	6.64%	5.52%	0.09	95.31%
32	Ujjivan Small Finance Bank	19.93	89.69%	6.55%	3.76%	0.09	88.48%
33	AU small Finance Bank	19.43	93.71%	5.94%	0.35%	0.17	62.66%
34	Maharashtra Gramin Bank	19.41	51.76%	42.89%	5.35%	0.09	93.90%
35	Tamilnad Mercantile Bank	18.78	91.64%	7.21%	1.15%	0.23	27.49%
36	Standard Chartered	18.34	95.99%	2.59%	1.42%	0.07	87.00%
37	Punjab and Sind Bank	18.14	88.48%	9.83%	1.68%	0.07	76.50%
38	Citibank	17.81	95.45%	4.07%	0.48%	0.06	95.73%
39	DBS Bank India Limited	17.33	95.17%	4.73%	0.11%	0.09	53.62%
40	Pragathi Krishna Gramin Bank	15.27	86.54%	12.67%	0.78%	0.20	21.84%
41	Andhra Pradesh Grameena Vikas Bank	14.66	85.56%	12.28%	2.16%	0.12	35.40%
42	Saraswat Bank	14.61	95.83%	3.57%	0.60%	0.04	93.96%
43	Kerala Gramin Bank	12.77	88.69%	10.93%	0.37%	0.09	45.06%
44	Rajasthan Marudhara Gramin Bank	11.61	79.24%	11.94%	8.83%	0.07	94.36%
45	ESAF Small Finance Bank Ltd.	11.29	89.50%	9.00%	1.50%	0.10	42.87%
46	RBL	9.68	90.98%	7.19%	1.83%	0.05	87.11%
47	Andhra Pragathi Grameena Bank	9.67	77.93%	17.06%	5.01%	0.10	41.25%
48	Sarva Haryana Gramin Bank	9.11	87.10%	10.98%	1.92%	0.05	99.45%
49	Baroda UP Gramin Bank	7.82	82.96%	12.50%	4.53%	0.13	35.54%
50	Baroda Rajasthan Kshetriya Gramin Bank	7.40	83.30%	10.93%	5.77%	0.07	43.80%

UPI Top 50 Member Beneficiary Performance (Nov'22)

UPI Beneficiary Banks - Top 50 Banks (Nov'22)
Sr.No.	UPI Beneficiary Banks (Nov-2022)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Paytm Payments Bank	1617.99	99.63%	0.27%	0.08%	0.02%
2	Yes Bank Ltd	1261.66	99.87%	0.12%	0.01%	0.00%
3	State Bank Of India	877.76	99.07%	0.22%	0.63%	0.08%
4	Axis Bank Ltd	541.43	99.82%	0.11%	0.04%	0.03%
5	ICICI Bank	493.34	99.30%	0.36%	0.28%	0.07%
6	HDFC Bank Ltd	361.21	99.22%	0.66%	0.08%	0.04%
7	Bank of Baroda	233.63	99.59%	0.26%	0.10%	0.05%
8	Union Bank of India	226.28	99.35%	0.28%	0.29%	0.08%
9	Canara Bank	173.68	98.62%	0.43%	0.72%	0.24%
10	Federal Bank	166.71	99.22%	0.34%	0.41%	0.03%
11	Punjab National Bank	163.42	96.87%	0.58%	1.84%	0.71%
12	Kotak Mahindra Bank	150.77	99.05%	0.59%	0.27%	0.09%
13	Bank of India	129.98	99.12%	0.25%	0.50%	0.13%
14	Indian Bank	94.58	98.69%	0.33%	0.82%	0.16%
15	Airtel Payments Bank	84.21	94.82%	0.43%	3.37%	1.37%
16	IndusInd Bank	62.72	98.90%	0.46%	0.36%	0.28%
17	Central Bank Of India	60.87	96.54%	0.63%	1.88%	0.95%
18	India Post Payment Bank	56.87	96.45%	0.73%	2.62%	0.20%
19	Indian Overseas Bank	50.30	98.92%	0.28%	0.59%	0.21%
20	IDBI Bank Limited	48.77	98.14%	0.47%	1.19%	0.20%
21	UCO Bank	44.71	97.31%	0.68%	1.56%	0.45%
22	Bank of Maharashtra	38.54	98.02%	0.31%	1.51%	0.16%
23	IDFC FIRST Bank	37.91	91.59%	1.43%	6.48%	0.50%
24	Karnataka Bank	29.87	93.52%	0.64%	4.91%	0.94%
25	Karur Vysya Bank	24.80	98.56%	0.53%	0.82%	0.09%
26	South Indian Bank	21.40	99.21%	0.65%	0.13%	0.01%
27	Bandhan Bank	20.13	96.34%	0.37%	3.11%	0.18%
28	Fino Payments Bank	19.40	95.99%	2.08%	1.48%	0.45%
29	AU small Finance Bank	15.63	97.57%	2.07%	0.21%	0.15%
30	City Union Bank	12.88	98.44%	0.85%	0.63%	0.08%
31	Tamilnad Mercantile Bank	11.78	98.77%	0.26%	0.81%	0.16%
32	Citibank	11.30	99.62%	0.00%	0.08%	0.30%
33	Ujjivan Small Finance Bank	11.14	95.80%	0.29%	3.62%	0.29%
34	Equitas Small Finance Bank	10.67	97.64%	1.88%	0.46%	0.02%
35	Punjab and Sind Bank	8.84	98.27%	0.22%	1.20%	0.31%
36	Pragathi Krishna Gramin Bank	8.58	99.14%	0.43%	0.20%	0.23%
37	Kerala Gramin Bank	8.36	98.99%	0.71%	0.11%	0.18%
38	Jammu and Kashmir Bank	8.27	95.56%	0.61%	3.57%	0.25%
39	Andhra Pradesh Grameena Vikas Bank	7.64	98.46%	0.26%	0.89%	0.39%
40	DBS Bank India Limited	6.87	98.51%	1.41%	0.06%	0.02%
41	Maharashtra Gramin Bank	6.62	91.06%	4.57%	3.62%	0.76%
42	ESAF Small Finance Bank Ltd.	6.56	99.05%	0.24%	0.61%	0.11%
43	RBL	6.00	96.96%	1.55%	1.13%	0.36%
44	Rajasthan Marudhara Gramin Bank	5.97	95.14%	0.45%	3.49%	0.92%
45	Saraswat Bank	5.87	99.18%	0.22%	0.54%	0.06%
46	Baroda UP Gramin Bank	5.41	93.56%	2.43%	3.37%	0.64%
47	Andhra Pragathi Grameena Bank	5.39	94.46%	1.55%	3.58%	0.41%
48	Sarva Haryana Gramin Bank	4.67	89.96%	1.93%	7.94%	0.16%
49	Baroda Rajasthan Kshetriya Gramin Bank	4.21	92.85%	2.34%	4.33%	0.48%
50	Karnataka Vikas Grameena Bank	3.83	96.13%	1.19%	2.43%	0.25%

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 (Nov'22)

UPI Apps (Nov'22)
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	8.73	671.00	-	-	0.00	0.00	0.00	0.09	8.73	671.09
2	Allahabad Bank Apps	0.03	8.98	-	-	-	-	-	-	0.03	8.98
3	Amazon Pay	59.76	5,873.36	-	-	-	-	-	-	59.76	5,873.36
4	Andhra Bank Apps	0.01	1.53	-	-	-	-	-	-	0.01	1.53
5	AU Small Finance Bank Apps	0.53	160.30	-	-	0.00	0.00	-	-	0.53	160.30
6	Axis Bank Apps	6.16	1,061.61	71.59	57.35	0.03	2.28	-	-	77.77	1,121.24
7	Bajaj Finserv	3.90	464.41	-	-	-	-	-	-	3.90	464.41
8	Bandhan Bank Apps	0.01	1.21	-	-	-	-	-	-	0.01	1.21
9	Bank of Baroda Apps	1.26	455.80	-	-	0.00	0.00	-	-	1.26	455.80
10	Bank of India Apps	0.20	57.87	-	-	-	-	-	-	0.20	57.87
11	Bank of Maharashtra Apps	0.07	18.29	-	-	-	-	-	-	0.07	18.29
12	BHIM	25.01	8,144.83	-	-	-	-	-	-	25.01	8,144.83
13	Canara Bank Apps	0.86	232.51	-	-	-	-	-	-	0.86	232.51
14	Central Bank of India Apps	0.27	63.29	-	-	0.00	0.02	-	-	0.27	63.31
15	Citi Bank Apps	0.13	60.76	-	-	0.00	0.00	-	-	0.13	60.76
16	City Union Bank Apps	0.04	12.58	-	-	-	-	-	-	0.04	12.58
17	Cointab	0.03	13.87	-	-	-	-	-	-	0.03	13.87
18	Cred	25.63	18,599.72	-	-	-	-	-	-	25.63	18,599.72
19	DBS Digibank Apps	0.40	169.55	-	-	0.00	0.00	-	-	0.41	169.55
20	Deutsche Bank Apps	1.30	104.20	-	-	0.00	0.01	-	-	1.30	104.21
21	Dhanlaxmi Bank Apps	0.01	2.75	-	-	-	-	-	-	0.01	2.75
22	Equitas Small Finance Bank Apps	0.02	9.82	-	-	-	-	-	-	0.02	9.82
23	Fampay PPI	4.88	64.75	-	-	0.00	0.00	-	-	4.88	64.75
24	Fave	0.05	2.83	-	-	-	-	-	-	0.05	2.83
25	Federal Bank Apps	4.11	553.97	-	-	0.00	0.00	-	-	4.11	553.97
26	Fino Payments bank Apps	0.10	6.61	-	-	-	-	-	-	0.10	6.61
27	Google Pay	2,541.14	409,714.75	-	-	-	-	-	-	2,541.14	409,714.75
28	Groww	0.05	36.46	-	-	-	-	-	-	0.05	36.46
29	HDFC Bank Apps	10.66	2,758.27	-	-	0.00	0.18	-	-	10.66	2,758.45
30	HSBC Bank Apps	0.12	72.51	0.00	0.06	0.00	0.00	-	-	0.12	72.58
31	ICICI Bank Apps	33.40	7,829.07	4.32	334.50	6.36	6,587.24	-	-	44.07	14,750.80
32	IDBI Bank Apps	0.06	24.78	-	-	-	-	-	-	0.06	24.78
33	IDFC Bank Apps	10.46	895.21	-	-	0.01	8.16	-	-	10.47	903.37
34	India Post Payments Bank Apps	4.66	589.14	-	-	-	-	-	-	4.66	589.14
35	Indian Bank Apps	0.23	67.20	-	-	-	-	-	-	0.23	67.20
36	Indian Overseas Bank Apps	0.01	2.48	-	-	-	-	-	-	0.01	2.48
37	IndusInd Bank Apps	1.20	1,224.13	-	-	-	-	-	-	1.20	1,224.13
38	Janata Sahakari Bank Apps	0.01	3.99	-	-	-	-	-	-	0.01	3.99
39	Jio Payments Bank Apps	1.31	96.23	-	-	-	-	-	-	1.31	96.23
40	Jupiter	2.16	275.52	-	-	-	-	-	-	2.16	275.52
41	Karnataka Bank Apps	0.40	74.82	-	-	-	-	-	-	0.40	74.82
42	Karur Vysya Bank Apps	0.04	16.23	-	-	-	-	-	-	0.04	16.23
43	Kotak Mahindra Bank Apps	10.93	2,304.90	-	-	0.00	0.00	-	-	10.93	2,304.90
44	MakeMyTrip	0.02	7.69	-	-	-	-	-	-	0.02	7.69
45	Mobikwik	3.46	762.67	-	-	-	-	-	-	3.46	762.67
46	NSDL Payments Bank Apps	0.02	2.70	-	-	-	-	-	-	0.02	2.70
47	Paytm Payments Bank App	973.85	109,008.43	4.12	14.81	0.37	491.76	103.13	19,290.91	1,081.47	128,805.91
48	PhonePe	3,418.75	591,327.61	-	-	-	-	-	-	3,418.75	591,327.61
49	Punjab National Bank Apps	0.16	60.47	-	-	-	-	-	-	0.16	60.47
50	Punjab Sind Bank Apps	0.03	8.97	-	-	-	-	-	-	0.03	8.97
51	RBL Bank Apps	1.14	268.54	0.00	0.00	0.04	2.26	-	-	1.18	270.81
52	Samsung Pay	5.07	506.82	-	-	-	-	-	-	5.07	506.82
53	Slash	0.01	0.28	-	-	-	-	-	-	0.01	0.28
54	slice	0.51	206.66	-	-	-	-	-	-	0.51	206.66
55	South Indian Bank Apps	0.20	58.10	-	-	-	-	-	-	0.20	58.10
56	Standard Chartered Bank Apps	0.15	79.67	0.40	12.90	0.00	0.00	-	-	0.55	92.57
57	State Bank of India Apps	4.07	1,876.46	-	-	-	-	-	-	4.07	1,876.46
58	Tamilnad Mercantile Bank Apps	0.07	10.48	-	-	-	-	-	-	0.07	10.48
59	TataNeu	0.14	17.17	-	-	-	-	-	-	0.14	17.17
60	TJSB Bank Apps	0.01	2.25	-	-	-	-	-	-	0.01	2.25
61	UCO Bank Apps	0.26	78.38	-	-	-	-	-	-	0.26	78.38
62	Ultracash	0.02	0.27	-	-	-	-	-	-	0.02	0.27
63	Union Bank Apps	1.11	313.30	-	-	-	-	-	-	1.11	313.30
64	Utkarsh Small Finance Bank Apps	0.02	7.10	-	-	-	-	-	-	0.02	7.10
65	WhatsApp	9.25	769.29	-	-	-	-	-	-	9.25	769.29
66	Yes Bank Apps	43.18	14,682.54	0.00	0.00	0.41	219.88	-	-	43.58	14,902.42
67	Others	0.02	4.07	-	-	0.00	0.00	-	-	0.02	4.07

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)
Nov'22	7,309.45	11,90,593.39	3,401.49	9,21,601.77	3,907.96	2,68,991.61

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 (Nov'22)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd	2,575.97	98.34%	1.66%	0.00%
2	Axis Bank Ltd	1289.43	98.36%	1.64%	0.00%
3	ICICI Bank	1102.30	98.46%	1.53%	0.00%
4	Paytm Payments Bank	995.21	98.31%	1.69%	0.01%
5	HDFC Bank Ltd	690.60	98.88%	1.11%	0.01%
6	State Bank Of India	690.36	98.38%	1.62%	0.01%
7	IDFC FIRST Bank	15.81	97.48%	2.50%	0.02%
8	Kotak Mahindra Bank	11.23	97.34%	2.65%	0.01%
9	Airtel Payments Bank	9.10	95.92%	4.04%	0.05%
10	India Post Payment Bank	4.77	97.62%	2.37%	0.01%
11	Federal Bank	4.26	97.23%	2.74%	0.03%
12	RBL Bank	1.64	98.47%	1.53%	0.00%
13	Jio Payments Bank	1.39	94.63%	5.17%	0.20%
14	Bank of Baroda	1.35	92.72%	7.27%	0.01%
15	Deutsche Bank	1.30	99.93%	0.07%	0.00%

UPI Payee PSP Performance

UPI Payee PSP Performance (Nov'22)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd	2,658.35	99.53%	0.39%	0.08%
2	Paytm Payments Bank	1,638.48	99.68%	0.27%	0.05%
3	Axis Bank Ltd	904.83	99.19%	0.80%	0.01%
4	ICICI Bank	813.95	98.83%	1.08%	0.08%
5	HDFC Bank Ltd	378.74	99.13%	0.81%	0.06%
6	State Bank Of India	351.11	98.87%	1.04%	0.09%
7	Federal Bank	111.84	97.56%	1.76%	0.68%
8	IndusInd Bank	29.37	97.34%	2.02%	0.64%
9	Kotak Mahindra Bank	23.13	99.16%	0.73%	0.11%
10	Airtel Payments Bank	15.16	98.90%	0.84%	0.27%
11	IDFC FIRST Bank	15.02	93.66%	4.93%	1.41%
12	Citibank	11.42	99.06%	0.88%	0.06%
13	Cosmos Bank	8.41	94.14%	5.01%	0.85%
14	Bank of Baroda	7.40	99.68%	0.25%	0.07%
15	Canara Bank	5.85	99.47%	0.46%	0.07%

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 - November 22

UPI Merchant Category-wise Classification - November'22
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
	7299	Miscellaneous personal services not elsewhere classified
	5816	Digital Goods – Games
	5541	Service stations (with or without ancillary services)
	5814	Fast food restaurants
	5499	Miscellaneous food shops convenience and speciality retail outlets
	5311	Department stores
	5912	Drug stores and pharmacies
Medium Transacting Categories	5999	Miscellaneous and speciality retail outlets
	5462	Bakeries
	5399	Miscellaneous general merchandise
	4900	Utilities - electric, gas, water and sanitary
	7322	Debt collection agencies
	5813	Drinking places (alcoholic beverages) - bars, taverns, night-clubs, cocktail lounges and discothèques
	5451	Dairies
	6540	Debit card to wallet credit (Wallet top up)*
	6012	Financial institutions - merchandise and services
	5699	Miscellaneous apparel and accessory shops
All Other Categories	4899	Cable and other pay television services
	9399	Government services - not elsewhere classified
	8999	Professional services not elsewhere classified
	7399	Business services not elsewhere classified
	4214	Motor freight carriers and trucking - local and long distance, moving and storage companies and local delivery
	5732	Electronics shops
	5422	Freezer and locker meat provisioners
	6211	Securities - brokers and dealers
	4784	Tolls and bridge fees
	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 Member Remitter Performance (Oct'22)

UPI Remitter Banks - Top 50 Banks (Oct'22)
Sr. No.	UPI Remitter Banks (Oct-2022)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank Of India	1,972.78	92.21%	6.59%	1.19%	8.78	94.48%
2	HDFC Bank Ltd	660.29	94.45%	5.34%	0.22%	0.97	96.96%
3	Bank of Baroda	478.92	93.37%	6.32%	0.30%	0.96	96.10%
4	Union Bank of India	446.71	91.40%	7.44%	1.16%	0.73	73.30%
5	ICICI Bank	401.27	94.75%	4.76%	0.49%	0.91	90.59%
6	Axis Bank Ltd	371.17	95.68%	4.28%	0.05%	0.93	92.66%
7	Paytm Payments Bank	362.51	95.98%	4.00%	0.02%	0.98	98.24%
8	Punjab National Bank	333.94	93.61%	5.71%	0.68%	0.82	82.38%
9	Kotak Mahindra Bank	325.73	93.70%	6.13%	0.17%	0.79	79.42%
10	Canara Bank	323.12	93.44%	6.40%	0.16%	0.92	91.97%
11	Bank of India	252.93	94.31%	4.62%	1.07%	0.71	70.67%
12	Indian Bank	185.22	93.46%	5.58%	0.96%	0.80	80.19%
13	Airtel Payments Bank	140.51	77.77%	17.18%	5.05%	0.72	71.61%
14	Central Bank Of India	119.96	86.20%	9.42%	4.38%	0.34	33.63%
15	Federal Bank	118.98	94.60%	5.22%	0.18%	0.97	96.56%
16	India Post Payment Bank	114.22	81.27%	16.10%	2.63%	0.81	80.98%
17	IDBI Bank Limited	97.92	94.71%	4.09%	1.20%	0.84	83.61%
18	Indian Overseas Bank	94.16	93.87%	5.20%	0.93%	0.96	95.92%
19	Yes Bank Ltd	92.51	96.21%	3.62%	0.17%	0.00	0.00%
20	Bank of Maharashtra	88.07	93.60%	5.14%	1.25%	0.91	90.59%
21	UCO Bank	82.78	92.09%	6.14%	1.76%	0.47	46.95%
22	IndusInd Bank	67.00	93.82%	5.82%	0.36%	0.94	93.75%
23	Karnataka Bank	62.54	87.04%	7.32%	5.63%	0.29	29.23%
24	IDFC FIRST Bank	55.62	91.05%	5.26%	3.68%	0.47	46.81%
25	Fino Payments Bank	54.25	82.71%	15.11%	2.18%	0.74	73.71%
26	Karur Vysya Bank	40.45	92.21%	7.44%	0.35%	0.97	96.94%
27	South Indian Bank	30.59	93.64%	6.22%	0.14%	0.96	96.12%
28	Bandhan Bank	30.23	90.43%	7.22%	2.35%	0.92	92.03%
29	City Union Bank	22.20	92.56%	6.56%	0.88%	0.91	90.99%
30	Equitas Small Finance Bank	22.13	81.26%	13.91%	4.83%	0.45	44.77%
31	Ujjivan Small Finance Bank	19.94	88.35%	6.67%	4.98%	0.59	59.24%
32	Jammu and Kashmir Bank	19.69	90.14%	6.73%	3.14%	0.76	75.74%
33	AU small Finance Bank	19.57	93.32%	6.25%	0.42%	0.80	79.90%
34	Punjab and Sind Bank	18.58	78.83%	14.05%	7.13%	0.22	22.27%
35	Citibank	18.52	95.42%	4.20%	0.38%	0.98	97.54%
36	Tamilnad Mercantile Bank	18.51	91.96%	7.68%	0.36%	0.74	74.23%
37	Standard Chartered	18.42	95.89%	2.74%	1.37%	0.95	94.98%
38	DBS Bank Ltd	17.23	94.46%	4.79%	0.75%	0.96	96.03%
39	Maharashtra Gramin Bank	17.07	61.62%	28.36%	10.03%	0.20	19.53%
40	Andhra Pradesh Grameena Vikas Bank	15.18	77.12%	16.65%	6.23%	0.19	19.43%
41	Pragathi Krishna Gramin Bank	15.16	86.80%	12.30%	0.90%	0.84	84.10%
42	Saraswat Bank	15.11	95.46%	4.00%	0.54%	0.83	82.85%
43	Rajasthan Marudhara Gramin Bank	12.45	71.92%	12.81%	15.27%	0.09	8.64%
44	Kerala Gramin Bank	11.85	88.50%	11.14%	0.36%	0.95	95.24%
45	ESAF Small Finance Bank Ltd.	10.85	89.61%	8.71%	1.68%	0.87	87.40%
46	Andhra Pragathi Grameena Bank	10.11	73.28%	16.67%	10.04%	0.43	43.37%
47	RBL Bank	9.75	91.83%	7.37%	0.80%	0.89	88.71%
48	Sarva Haryana Gramin Bank	9.22	86.58%	9.20%	4.22%	0.85	85.18%
49	Baroda Rajasthan Kshetriya Gramin Bank	7.84	81.13%	10.56%	8.32%	0.28	27.94%
50	Baroda UP Gramin Bank	7.82	84.01%	10.99%	5.01%	0.46	46.32%

UPI Top 50 Member Beneficiary Performance (Oct'22)

UPI Beneficiary Banks - Top 50 Banks (Oct'22)
Sr.No.	UPI Beneficiary Banks (Oct-2022)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Paytm Payments Bank	1,614.03	99.67%	0.33%	0.01%	0.00%
2	Yes Bank Ltd	1,219.77	99.79%	0.03%	0.13%	0.05%
3	State Bank Of India	889.56	98.90%	0.23%	0.81%	0.05%
4	Axis Bank Ltd	542.37	99.89%	0.09%	0.01%	0.01%
5	ICICI Bank	492.94	99.32%	0.34%	0.26%	0.08%
6	HDFC Bank Ltd	373.70	99.20%	0.66%	0.10%	0.04%
7	Bank of Baroda	240.33	99.39%	0.26%	0.28%	0.07%
8	Union Bank of India	227.13	98.72%	0.28%	0.82%	0.18%
9	Canara Bank	172.30	99.48%	0.40%	0.06%	0.05%
10	Punjab National Bank	167.71	98.57%	0.57%	0.52%	0.34%
11	Federal Bank	165.64	99.61%	0.30%	0.08%	0.01%
12	Kotak Mahindra Bank	154.56	99.26%	0.62%	0.07%	0.05%
13	Bank of India	134.01	98.83%	0.26%	0.76%	0.15%
14	Indian Bank	92.72	98.59%	0.37%	0.79%	0.25%
15	Airtel Payments Bank	83.12	94.81%	0.47%	3.55%	1.17%
16	IndusInd Bank	63.42	99.09%	0.45%	0.29%	0.17%
17	Central Bank Of India	62.34	95.82%	0.62%	2.62%	0.94%
18	India Post Payment Bank	54.32	96.43%	0.98%	2.37%	0.22%
19	IDBI Bank Limited	50.52	98.82%	0.43%	0.49%	0.26%
20	Indian Overseas Bank	49.89	99.04%	0.28%	0.42%	0.26%
21	UCO Bank	44.71	97.88%	0.70%	1.05%	0.37%
22	Bank of Maharashtra	39.90	98.36%	0.29%	1.17%	0.18%
23	IDFC FIRST Bank	36.93	93.33%	1.04%	5.01%	0.62%
24	Karnataka Bank	30.03	94.35%	0.70%	4.14%	0.82%
25	Karur Vysya Bank	25.04	99.21%	0.60%	0.15%	0.04%
26	South Indian Bank	20.80	99.25%	0.65%	0.09%	0.01%
27	Bandhan Bank	19.75	96.79%	0.39%	2.74%	0.08%
28	Fino Payments Bank	19.50	96.03%	2.29%	1.30%	0.38%
29	AU small Finance Bank	16.05	97.86%	1.70%	0.25%	0.19%
30	Citibank	2.54	97.38%	1.97%	0.42%	0.23%
31	City Union Bank	12.82	98.45%	0.89%	0.57%	0.09%
32	Tamilnad Mercantile Bank	11.70	99.39%	0.27%	0.30%	0.04%
33	Ujjivan Small Finance Bank	11.20	94.52%	0.28%	4.91%	0.29%
34	Equitas Small Finance Bank	10.73	94.69%	1.71%	2.93%	0.67%
35	Pragathi Krishna Gramin Bank	8.76	98.92%	0.46%	0.34%	0.28%
36	Punjab and Sind Bank	8.71	92.64%	0.23%	5.73%	1.40%
37	YES Bank - Amazon pay	7.97	100.00%	0.00%	0.00%	0.00%
38	Jammu and Kashmir Bank	8.13	96.36%	0.62%	2.89%	0.13%
39	Kerala Gramin Bank	7.72	99.06%	0.67%	0.11%	0.16%
40	Andhra Pradesh Grameena Vikas Bank	7.59	93.00%	2.66%	3.02%	1.32%
41	DBS Bank Ltd	6.82	97.40%	1.37%	0.97%	0.25%
42	Maharashtra Gramin Bank	7.43	86.96%	4.39%	7.12%	1.53%
43	ESAF Small Finance Bank Ltd.	6.42	99.13%	0.22%	0.58%	0.07%
44	Saraswat Bank	6.20	99.25%	0.20%	0.50%	0.05%
45	Rajasthan Marudhara Gramin Bank	6.42	89.36%	0.39%	8.43%	1.82%
46	RBL Bank	5.95	98.14%	1.33%	0.46%	0.07%
47	Baroda UP Gramin Bank	5.63	92.88%	2.36%	4.19%	0.58%
48	Andhra Pragathi Grameena Bank	5.56	89.78%	1.62%	7.08%	1.52%
49	Sarva Haryana Gramin Bank	5.15	84.50%	0.42%	14.93%	0.14%
50	Baroda Rajasthan Kshetriya Gramin Bank	4.60	90.68%	2.05%	6.45%	0.82%

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'22)

UPI Apps (Oct'22)
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	9.44	775.04	-	-	0.00	0.00	0.00	0.14	9.44	775.19
2	Allahabad Bank Apps	0.03	9.33	-	-	-	-	-	-	0.03	9.33
3	Amazon Pay	56.42	6,060.50	-	-	-	-	-	-	56.42	6,060.50
4	AU Small Finance Bank Apps	0.54	161.99	-	-	-	-	-	-	0.54	161.99
5	Axis Bank Apps	7.83	1,502.28	52.13	51.48	0.03	2.09	-	-	59.99	1,555.84
6	Bajaj Finserv	4.12	472.71	-	-	-	-	-	-	4.12	472.71
7	Bank of Baroda Apps	1.23	466.23	-	-	0.00	0.00	-	-	1.23	466.23
8	Bank of India Apps	0.20	59.97	-	-	-	-	-	-	0.20	59.97
9	Bank of Maharashtra Apps	0.07	20.10	-	-	-	-	-	-	0.07	20.10
10	BHIM	25.49	8,523.17	-	-	-	-	-	-	25.49	8,523.17
11	Canara Bank Apps	0.81	219.07	-	-	-	-	-	-	0.81	219.07
12	Central Bank of India Apps	0.30	71.64	-	-	0.00	0.02	-	-	0.30	71.66
13	Citi Bank Apps	0.09	66.83	-	-	0.00	0.00	-	-	0.09	66.83
14	City Union Bank Apps	0.04	12.85	-	-	-	-	-	-	0.04	12.85
15	Cointab	0.03	11.67	-	-	-	-	-	-	0.03	11.67
16	Cred	21.28	20,259.70	-	-	-	-	-	-	21.28	20,259.70
17	DBS Digibank Apps	0.43	179.26	-	-	0.00	0.00	-	-	0.43	179.26
18	Deutsche Bank Apps	1.25	111.93	-	-	0.00	0.01	-	-	1.26	111.93
19	Dhanlaxmi Bank Apps	0.01	3.21	-	-	-	-	-	-	0.01	3.21
20	Equitas Small Finance Bank Apps	0.02	8.28	-	-	-	-	-	-	0.02	8.28
21	Fampay PPI	4.06	56.79	-	-	0.00	0.01	-	-	4.06	56.79
22	Fave	0.04	2.53	-	-	-	-	-	-	0.04	2.53
23	Federal Bank Apps	4.19	574.92	-	-	0.00	0.00	-	-	4.19	574.92
24	Fino Payments bank Apps	0.09	6.46	-	-	-	-	-	-	0.09	6.46
25	GoIbibo	0.01	1.84	-	-	-	-	-	-	0.01	1.84
26	Google Pay	2,496.42	4,20,978.38	-	-	-	-	-	-	2,496.42	4,20,978.38
27	HDFC Bank Apps	11.96	2,997.27	-	-	0.00	0.03	-	-	11.96	2,997.29
28	HSBC Bank Apps	0.14	77.42	0.00	0.38	0.00	0.00	-	-	0.14	77.80
29	ICICI Bank Apps	31.22	8,073.99	5.04	381.41	5.34	6,074.12	-	-	41.61	14,529.52
30	IDBI Bank Apps	0.06	25.92	-	-	-	-	-	-	0.06	25.92
31	IDFC Bank Apps	9.98	888.44	-	-	0.00	0.00	-	-	9.98	888.45
32	India Post Payments Bank Apps	4.70	630.43	-	-	-	-	-	-	4.70	630.43
33	Indian Bank Apps	0.23	68.97	-	-	-	-	-	-	0.23	68.97
34	Indian Overseas Bank Apps	0.01	4.72	-	-	-	-	-	-	0.01	4.72
35	IndusInd Bank Apps	1.15	1,516.68	-	-	-	-	-	-	1.15	1,516.68
36	Janata Sahakari Bank Apps	0.01	4.80	-	-	-	-	-	-	0.01	4.80
37	Jio Payments Bank Apps	1.38	98.87	-	-	-	-	-	-	1.38	98.87
38	Jupiter	2.18	280.43	-	-	-	-	-	-	2.18	280.43
39	Karnataka Bank Apps	0.43	76.62	-	-	-	-	-	-	0.43	76.62
40	Karur Vysya Bank Apps	0.04	17.62	-	-	-	-	-	-	0.04	17.62
41	Kotak Mahindra Bank Apps	11.46	2,426.65	-	-	0.00	0.00	-	-	11.46	2,426.65
42	MakeMyTrip	0.07	31.85	-	-	-	-	-	-	0.07	31.85
43	Mobikwik	3.28	708.12	-	-	-	-	-	-	3.28	708.12
44	NSDL Payments Bank Apps	0.02	3.13	-	-	-	-	-	-	0.02	3.13
45	Paytm Payments Bank App	995.34	1,12,062.51	4.90	14.36	0.43	541.32	108.92	21,002.36	1,109.60	1,33,620.54
46	PhonePe	3,452.87	5,93,759.02	-	-	-	-	-	-	3,452.87	5,93,759.02
47	Punjab National Bank Apps	0.15	62.77	-	-	-	-	-	-	0.15	62.77
48	Punjab Sind Bank Apps	0.02	8.05	-	-	-	-	-	-	0.02	8.05
49	RBL Bank Apps	1.07	243.44	0.00	0.01	0.01	1.71	-	-	1.08	245.16
50	Samsung Pay	5.09	554.33	-	-	-	-	-	-	5.09	554.33
51	South Indian Bank Apps	0.19	58.20	-	-	-	-	-	-	0.19	58.20
52	Standard Chartered Bank Apps	0.15	86.63	0.07	2.29	-	-	-	-	0.22	88.92
53	State Bank of India Apps	4.10	1,936.72	-	-	0.00	0.01	-	-	4.10	1,936.72
54	Tamilnad Mercantile Bank Apps	0.06	9.81	-	-	-	-	-	-	0.06	9.81
55	TataNeu	0.14	18.30	-	-	-	-	-	-	0.14	18.30
56	TJSB Bank Apps	0.01	1.86	-	-	-	-	-	-	0.01	1.86
57	UCO Bank Apps	0.28	80.38	-	-	-	-	-	-	0.28	80.38
58	Ultracash	0.02	0.24	-	-	-	-	-	-	0.02	0.24
59	Union Bank Apps	0.82	290.75	-	-	-	-	-	-	0.82	290.75
60	Utkarsh Small Finance Bank Apps	0.02	6.31	-	-	-	-	-	-	0.02	6.31
61	WhatsApp	8.38	708.56	-	-	-	-	-	-	8.38	708.56
62	Yes Bank Apps	55.43	15,984.43	-	-	0.52	86.46	-	-	55.94	16,070.88
63	Others	0.02	5.87	-	-	-	-	-	-	0.02	5.87

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'22	7,305.42	12,11,582.51	3,436.66	9,28,872.06	3,868.76	2,82,710.45

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'22)
Sr. No.	Payer PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd	2,655.79	98.20%	1.80%	0.00%
2	Axis Bank Ltd	1,195.53	98.23%	1.77%	0.00%
3	ICICI Bank	1,075.20	98.33%	1.66%	0.00%
4	Paytm Payments Bank	1,019.37	98.17%	1.83%	0.01%
5	State Bank Of India	735.35	98.14%	1.86%	0.00%
6	HDFC Bank Ltd	669.66	98.82%	1.18%	0.00%
7	BHIM	27.30	93.36%	6.62%	0.02%
8	IDFC FIRST Bank	14.61	96.53%	3.44%	0.03%
9	Kotak Mahindra Bank	11.80	97.12%	2.88%	0.00%
10	Airtel Payments Bank	9.88	95.53%	4.43%	0.04%
11	India Post Payment Bank	4.83	97.37%	2.61%	0.02%
12	Federal Bank	4.34	97.14%	2.85%	0.01%
13	Jio Payments Bank	1.47	94.35%	5.45%	0.20%
14	RBL Bank	1.42	97.93%	2.07%	0.00%
15	Bank of Baroda	1.34	92.14%	7.85%	0.01%

UPI Payee PSP Performance

UPI Payee PSP Performance (Oct'22)
Sr. No.	Payee PSP	Total Volume (In Mn)	Approved %	BD %	TD %
1	Yes Bank Ltd	2,692.58	99.47%	0.51%	0.02%
2	Paytm Payments Bank	1,630.83	99.74%	0.26%	0.00%
3	Axis Bank Ltd	876.23	99.37%	0.60%	0.03%
4	ICICI Bank	794.28	99.60%	0.39%	0.01%
5	HDFC Bank Ltd	385.84	98.95%	1.01%	0.04%
6	State Bank Of India	326.97	99.45%	0.48%	0.06%
7	Federal Bank	112.50	97.78%	2.12%	0.10%
8	IndusInd Bank	29.66	97.61%	1.95%	0.45%
9	Kotak Mahindra Bank	27.28	99.56%	0.42%	0.03%
10	Airtel Payments Bank	14.99	98.92%	0.89%	0.18%
11	IDFC FIRST Bank	14.82	96.31%	2.36%	1.33%
12	Citibank	11.40	98.63%	1.24%	0.13%
13	BHIM	9.52	97.85%	2.08%	0.07%
14	Cosmos Bank	9.03	92.41%	7.23%	0.36%
15	Bank of Baroda	7.51	99.42%	0.46%	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 - October 22

UPI Merchant Category-wise Classification - October'22
Type	MCC	Description
High Transacting Categories	5411	Groceries and supermarkets
	4814	Telecommunication services, including local and long distance calls, credit card calls, calls through use of magnetic stripe reading telephones and faxes
	5812	Eating places and restaurants
	7299	Miscellaneous personal services not elsewhere classified
	5816	Digital Goods – Games
	5541	Service stations (with or without ancillary services)
	5814	Fast food restaurants
	5499	Miscellaneous food shops convenience and speciality retail outlets
	5311	Department stores
	5912	Drug stores and pharmacies
Medium Transacting Categories	5999	Miscellaneous and speciality retail outlets
	5462	Bakeries
	5399	Miscellaneous general merchandise
	4900	Utilities - electric, gas, water and sanitary
	7322	Debt collection agencies
	6540	Debit card to wallet credit (Wallet top up)*
	5813	Drinking places (alcoholic beverages) - bars, taverns, night-clubs, cocktail lounges and discothèques
	5451	Dairies
	6012	Financial institutions - merchandise and services
	5699	Miscellaneous apparel and accessory shops
All Other Categories	7399	Business services not elsewhere classified
	4899	Cable and other pay television services
	4214	Motor freight carriers and trucking - local and long distance, moving and storage companies and local delivery
	5732	Electronics shops
	6211	Securities - brokers and dealers
	9399	Government services - not elsewhere classified
	8999	Professional services not elsewhere classified
	5422	Freezer and locker meat provisioners
	7230	Beauty and barber shops
	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 Member Remitter Performance (Sep'22)

UPI Remitter Banks - Top 50 Banks (Sep'22)
Sr. No.	UPI Remitter Banks (Sep-2022)	Total Volume (In Mn)	Approved %	BD %	TD%	Total Debit Reversal Count (In Mn)	Debit Reversal Success %
1	State Bank Of India	1,865.75	90.39%	6.77%	2.84%	11.29	84.70%
2	HDFC Bank Ltd	610.12	94.46%	5.41%	0.13%	2.39	98.02%
3	Bank of Baroda	450.27	92.95%	6.80%	0.24%	1.69	97.38%
4	Union Bank of India	420.12	90.65%	7.79%	1.56%	1.95	63.86%
5	ICICI Bank	370.12	94.07%	4.86%	1.06%	1.35	82.90%
6	Axis Bank Ltd	344.25	95.55%	4.36%	0.09%	1.07	85.73%
7	Paytm Payments Bank	340.75	95.83%	4.13%	0.04%	0.78	96.59%
8	Punjab National Bank	318.28	91.99%	5.65%	2.35%	2.77	77.72%
9	Canara Bank	305.88	90.83%	7.01%	2.16%	2.20	81.45%
10	Kotak Mahindra Bank	300.14	93.56%	5.65%	0.79%	1.20	93.25%
11	Bank of India	236.49	94.42%	4.71%	0.87%	0.98	75.37%
12	Indian Bank	175.26	91.75%	5.94%	2.31%	1.06	72.57%
13	Airtel Payments Bank	131.86	78.70%	18.19%	3.11%	0.69	65.62%
14	India Post Payment Bank	119.05	65.85%	25.08%	9.07%	0.60	44.49%
15	Central Bank Of India	114.42	85.79%	9.92%	4.29%	0.85	37.93%
16	Federal Bank	111.27	94.17%	5.54%	0.29%	0.44	91.32%
17	Yes Bank Ltd	99.75	90.60%	9.12%	0.28%	0.00	0.00%
18	IDBI Bank Limited	91.74	94.52%	4.12%	1.36%	0.51	82.09%
19	Indian Overseas Bank	88.59	93.81%	5.36%	0.83%	0.47	94.43%
20	Bank of Maharashtra	83.51	89.86%	6.31%	3.83%	0.52	61.31%
21	UCO Bank	79.57	90.40%	6.21%	3.39%	0.54	47.69%
22	IndusInd Bank	61.95	92.65%	6.92%	0.43%	0.27	84.22%
23	Karnataka Bank	60.11	86.87%	7.17%	5.96%	0.22	24.61%
24	IDFC FIRST Bank	50.04	90.32%	5.89%	3.78%	0.16	36.19%
25	Fino Payments Bank	49.90	77.01%	15.14%	7.85%	0.81	72.43%
26	Karur Vysya Bank	38.75	91.71%	7.47%	0.82%	0.19	87.45%
27	Bandhan Bank	32.04	76.81%	19.57%	3.63%	0.35	88.01%
28	South Indian Bank	28.73	93.47%	6.40%	0.13%	0.08	89.45%
29	Equitas Small Finance Bank	22.35	77.94%	13.56%	8.50%	0.18	52.40%
30	City Union Bank	21.09	92.20%	6.77%	1.03%	0.08	95.35%
31	Ujjivan Small Finance Bank	18.79	86.62%	7.05%	6.33%	0.10	46.98%
32	AU small Finance Bank	18.54	91.06%	6.29%	2.66%	0.00	0.07%
33	Punjab and Sind Bank	18.02	88.30%	10.84%	0.86%	0.10	73.20%
34	Jammu and Kashmir Bank	17.61	89.86%	7.12%	3.02%	0.11	73.74%
35	Citibank	17.22	95.43%	4.03%	0.54%	0.05	89.64%
36	Tamilnad Mercantile Bank	17.19	92.41%	7.45%	0.14%	0.04	77.82%
37	Standard Chartered	16.99	96.09%	2.82%	1.09%	0.07	84.82%
38	DBS Bank Ltd	16.59	94.33%	4.72%	0.96%	0.07	93.51%
39	Maharashtra Gramin Bank	16.48	58.81%	22.10%	19.09%	0.04	6.69%
40	Andhra Pradesh Grameena Vikas Bank	15.32	66.53%	19.54%	13.93%	0.07	10.73%
41	Pragathi Krishna Gramin Bank	15.28	83.90%	12.18%	3.92%	0.13	72.67%
42	Saraswat Bank	13.30	95.98%	3.71%	0.31%	0.04	92.15%
43	ESAF Small Finance Bank Ltd.	11.74	73.49%	25.05%	1.46%	0.06	86.86%
44	Rajasthan Marudhara Gramin Bank	11.61	75.00%	11.50%	13.50%	0.04	8.06%
45	Kerala Gramin Bank	10.72	86.06%	11.28%	2.66%	0.05	60.99%
46	Sarva Haryana Gramin Bank	10.24	70.80%	21.62%	7.58%	0.09	74.70%
47	Andhra Pragathi Grameena Bank	9.35	75.51%	15.02%	9.47%	0.25	84.78%
48	RBL Bank	9.00	89.83%	8.40%	1.77%	0.06	80.10%
49	Baroda UP Gramin Bank	7.74	72.18%	10.69%	17.13%	0.06	46.25%
50	Baroda Rajasthan Kshetriya Gramin Bank	7.27	87.24%	9.01%	3.74%	0.04	56.52%

UPI Top 50 Member Beneficiary Performance (Sep'22)

UPI Beneficiary Banks - Top 50 Banks (Sep'22)
Sr.No.	UPI Beneficiary Banks (Sep-2022)	Total Volume (In Mn)	Approved %	BD%	TD%	Deemed Approved %
1	Paytm Payments Bank	1536.46	99.73%	0.26%	0.01%	0.00%
2	Yes Bank Ltd	1067.95	99.92%	0.06%	0.01%	0.03%
3	State Bank Of India	841.59	97.87%	0.26%	1.87%	0.11%
4	Axis Bank Ltd	504.89	99.76%	0.19%	0.05%	0.03%
5	ICICI Bank	455.34	99.32%	0.40%	0.28%	0.15%
6	HDFC Bank Ltd	350.77	98.98%	0.97%	0.05%	0.05%
7	Bank of Baroda	225.52	99.63%	0.30%	0.07%	0.13%
8	Union Bank of India	213.97	98.81%	0.29%	0.89%	0.22%
9	Canara Bank	162.67	98.11%	0.41%	1.48%	0.39%
10	Punjab National Bank	158.47	97.64%	0.66%	1.70%	0.35%
11	Federal Bank	154.93	99.50%	0.26%	0.24%	0.06%
12	Kotak Mahindra Bank	141.75	99.02%	0.60%	0.38%	0.32%
13	Bank of India	126.11	99.06%	0.29%	0.65%	0.14%
14	Airtel Payments Bank	89.35	97.35%	0.59%	2.06%	0.73%
15	Indian Bank	88.20	98.14%	0.30%	1.56%	0.43%
16	Central Bank Of India	58.34	96.79%	0.69%	2.51%	0.91%
17	IndusInd Bank	57.36	98.55%	1.09%	0.36%	0.21%
18	IDBI Bank Limited	48.17	98.49%	0.46%	1.05%	0.21%
19	Indian Overseas Bank	47.38	99.43%	0.27%	0.30%	0.24%
20	India Post Payment Bank	47.08	95.95%	1.09%	2.96%	0.23%
21	UCO Bank	42.56	97.31%	0.75%	1.94%	0.56%
22	Bank of Maharashtra	37.56	96.63%	0.26%	3.11%	0.87%
23	IDFC FIRST Bank	34.23	92.55%	2.66%	4.79%	0.71%
24	Karnataka Bank	29.06	95.17%	0.60%	4.22%	0.99%
25	Karur Vysya Bank	24.14	99.28%	0.33%	0.38%	0.10%
26	South Indian Bank	19.51	99.35%	0.58%	0.07%	0.03%
27	Bandhan Bank	18.89	95.56%	0.43%	4.01%	0.31%
28	Fino Payments Bank	17.75	92.59%	2.45%	4.96%	1.15%
29	AU small Finance Bank	15.13	96.76%	1.60%	1.64%	0.58%
30	Citibank	10.48	99.92%	0.00%	0.08%	0.24%
31	City Union Bank	12.28	98.49%	0.85%	0.66%	0.07%
32	Tamilnad Mercantile Bank	11.00	99.67%	0.26%	0.07%	0.03%
33	Equitas Small Finance Bank	10.75	92.70%	1.76%	5.55%	0.61%
34	Ujjivan Small Finance Bank	10.74	93.31%	0.29%	6.40%	0.50%
35	Punjab and Sind Bank	8.91	98.90%	0.24%	0.86%	0.22%
36	Pragathi Krishna Gramin Bank	8.58	98.38%	0.40%	1.22%	0.57%
37	Jammu and Kashmir Bank	7.44	96.94%	0.71%	2.35%	0.14%
38	Andhra Pradesh Grameena Vikas Bank	7.32	86.95%	4.60%	8.45%	2.93%
39	Maharashtra Gramin Bank	7.26	82.94%	1.73%	15.33%	3.15%
40	Kerala Gramin Bank	7.01	98.43%	0.70%	0.87%	0.51%
41	DBS Bank Ltd	6.66	96.97%	1.70%	1.33%	0.09%
42	Rajasthan Marudhara Gramin Bank	6.04	93.65%	0.43%	5.92%	1.93%
43	ESAF Small Finance Bank Ltd.	5.92	99.08%	0.21%	0.71%	0.07%
44	RBL Bank	5.70	97.13%	1.83%	1.04%	0.17%
45	Saraswat Bank	5.67	99.53%	0.20%	0.27%	0.02%
46	Baroda UP Gramin Bank	5.46	82.65%	2.22%	15.13%	0.72%
47	Andhra Pragathi Grameena Bank	5.25	93.77%	0.20%	6.03%	2.40%
48	Sarva Haryana Gramin Bank	4.90	84.17%	0.47%	15.36%	0.38%
49	Baroda Rajasthan Kshetriya Gramin Bank	4.31	95.09%	2.05%	2.86%	0.32%
50	Karnataka Vikas Grameena Bank	3.83	93.53%	0.68%	4.53%	1.26%

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 (Sep'22)

UPI Apps (Sep'22)
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	9.14	680.76	-	-	0.00	0.02	0.00	0.11	9.15	680.89
2	Allahabad Bank Apps	0.03	8.10	-	-	-	-	-	-	0.03	8.10
3	Amazon Pay	57.38	6,015.31	-	-	-	-	-	-	57.38	6,015.31
4	AU Small Finance Bank Apps	0.48	148.90	-	-	-	-	-	-	0.48	148.90
5	Axis Bank Apps	7.46	1,421.09	50.24	46.13	0.02	1.85	-	-	57.72	1,469.07
6	Bajaj Finserv	3.29	234.81	-	-	-	-	-	-	3.29	234.81
7	Bajaj Markets	0.01	1.38	-	-	-	-	-	-	0.01	1.38
8	Bandhan Bank Apps	0.01	1.88	-	-	-	-	-	-	0.01	1.88
9	Bank of Baroda Apps	1.11	443.84	-	-	0.00	0.00	-	-	1.11	443.85
10	Bank of India Apps	0.18	54.59	-	-	-	-	-	-	0.18	54.59
11	Bank of Maharashtra Apps	0.07	17.23	-	-	-	-	-	-	0.07	17.23
12	BHIM	25.17	8,308.65	-	-	-	-	-	-	25.17	8,308.65
13	Canara Bank Apps	0.78	207.18	-	-	0.00	0.00	-	-	0.78	207.18
14	Central Bank of India Apps	0.28	68.37	-	-	0.00	0.01	-	-	0.28	68.38
15	Citi Bank Apps	0.10	67.00	-	-	0.00	0.00	-	-	0.10	67.00
16	City Union Bank Apps	0.04	12.45	-	-	-	-	-	-	0.04	12.45
17	Cointab	0.04	19.35	-	-	-	-	-	-	0.04	19.35
18	Cred	14.96	19,237.92	-	-	-	-	-	-	14.96	19,237.92
19	DBS Digibank Apps	0.43	176.91	-	-	-	-	-	-	0.43	176.91
20	Deutsche Bank Apps	1.58	98.43	-	-	0.00	0.01	-	-	1.58	98.43
21	Dhanlaxmi Bank Apps	0.01	2.87	-	-	-	-	-	-	0.01	2.87
22	Equitas Small Finance Bank Apps	0.02	8.76	-	-	-	-	-	-	0.02	8.76
23	Fave	0.08	4.40	-	-	-	-	-	-	0.08	4.40
24	Federal Bank Apps	3.84	549.95	-	-	0.00	0.00	-	-	3.84	549.95
25	Fino Payments bank Apps	0.08	5.66	-	-	-	-	-	-	0.08	5.66
26	GoIbibo	0.01	3.58	-	-	-	-	-	-	0.01	3.58
27	Google Pay	2,296.14	387,996.14	-	-	-	-	-	-	2,296.14	387,996.14
28	Groww	0.11	68.03	-	-	-	-	-	-	0.11	68.03
29	HDFC Bank Apps	10.98	2,686.10	-	-	-	-	-	-	10.98	2,686.10
30	HSBC Bank Apps	0.12	70.14	0.00	0.43	0.00	0.00	-	-	0.12	70.56
31	ICICI Bank Apps	26.54	6,862.50	4.84	366.84	3.45	3,172.47	-	-	34.84	10,401.81
32	IDBI Bank Apps	0.05	24.18	-	-	-	-	-	-	0.05	24.18
33	IDFC Bank Apps	11.53	824.51	-	-	0.00	0.01	-	-	11.53	824.52
34	India Post Payments Bank Apps	5.22	572.75	-	-	-	-	-	-	5.22	572.75

UPI Ecosystem Statistics

UPI

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UPI Top 50 Member Remitter Performance (March'25)

UPI Top 50 Member Beneficiary Performance (March'25)

Glossary

UPI Apps (Mar'25)

UPI P2P and P2M Transactions

Glossary

UPI Payer PSP Performance

UPI Payee PSP Performance

Glossary

UPI Merchant Category Classification - Mar 25

Glossary

UPI Top 50 Member Remitter Performance (February'25)

UPI Top 50 Member Beneficiary Performance (February'25)

Glossary

UPI Apps (Feb'25)

UPI P2P and P2M Transactions

Glossary

UPI Payer PSP Performance

UPI Payee PSP Performance

Glossary

UPI Merchant Category Classification - Feb 25

Glossary

UPI Top 50 Member Remitter Performance (January'25)

UPI Top 50 Member Beneficiary Performance (January'25)

Glossary

UPI Apps (Jan'25)

UPI P2P and P2M Transactions

Glossary

UPI Payer PSP Performance

UPI Payee PSP Performance

Glossary

UPI Merchant Category Classification - Jan 25

Glossary

UPI Top 50 Member Remitter Performance (December'24)

UPI Top 50 Member Beneficiary Performance (December'24)

Glossary

UPI Apps (Dec'24)

UPI P2P and P2M Transactions

Glossary

UPI Payer PSP Performance

UPI Payee PSP Performance

Glossary

UPI Merchant Category Classification - Dec 24

Glossary

UPI Top 50 Member Remitter Performance (November'24)

UPI Top 50 Member Beneficiary Performance (November'24)

Glossary

UPI Apps (Nov'24)

UPI P2P and P2M Transactions

Glossary

UPI Payer PSP Performance

UPI Payee PSP Performance

Glossary

UPI Merchant Category Classification - Nov 24

Glossary

UPI Top 50 Member Remitter Performance (October'24)

UPI Top 50 Member Beneficiary Performance (October'24)

Glossary

UPI Apps (Oct'24)

UPI P2P and P2M Transactions

Glossary

UPI Payer PSP Performance

UPI Payee PSP Performance

Glossary

UPI Merchant Category Classification - Oct 24

Glossary

UPI Top 50 Member Remitter Performance (September'24)

UPI Top 50 Member Beneficiary Performance (September'24)

Glossary

UPI Apps (Sep'24)

UPI P2P and P2M Transactions

Glossary

UPI Payer PSP Performance

UPI Payee PSP Performance

Glossary

UPI Merchant Category Classification - Sep 24

Glossary