Unified Payments Interface (UPI) recorded its highest-ever monthly transaction volume in July, according to the latest NPCI data. Transaction volume rose 22% year-on-year to 23.66 billion, while transaction value increased 19% to ₹29.88 lakh crore. Transaction value had hit a record ₹29.90 lakh crore in May before dipping to ₹28.92 lakh crore in June.