UPI transactions surge from 2 crore in FY17 to over 24,162 crore in FY26

India’s digital commerce has boomed as annual UPI transactions skyrocketed past 24,162 crore. Backed by the JAM Trinity, DigiLocker, and GeM, the nation’s digital public infrastructure has secured massive financial inclusion, transferring over ₹51 lakh crore directly to citizens

New Delhi: What began as a simple payment platform 10 years ago now powers daily digital commerce across India as UPI transactions increased from just 2 crore in FY2016-17 to over 24,162 crore in FY 2025-26, an official fact-sheet said on Saturday.

The JAM Trinity — Jan Dhan, Aadhaar, and mobile connectivity — revolutionised financial inclusion and welfare delivery in India. It brought millions into the formal banking system and enabled seamless access to government services.

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Jan Dhan Yojana expanded banking access rapidly nationwide. Bank accounts increased from 14.72 crore in March 2015 to 57.78 crore by February 2026. Deposits rose from Rs 15,670 crore to Rs 2.94 lakh crore during the same period.

Additionally, Aadhaar created a trusted biometric identity platform for secure and instant digital authentication. Aadhaar enrolments increased from 0.42 crore in 2010-11 to over 144 crore by March 2026, the fact-sheet informed.

Mobile connectivity further strengthened the JAM ecosystem by expanding digital access across India. As of March 2026, 85.5 per cent of Indian households owned at least one smartphone, while over 109 crore people had internet access.

Together, JAM became the backbone of Digital India’s inclusive governance architecture. As of June 2026, Direct benefits transferred worth over Rs 51 lakh crore, transferred directly to 176 crore citizens, improving transparency and digital governance nationwide.

DigiLocker is replacing physical documents with a secure digital wallet and transforming document storage and verification across India.

As of March 2026, the platform has registered over 70.69 crore users and issued more than 850 crore documents, making verification faster, paperless, and more reliable.

Government e-Marketplace (GeM) has transformed public procurement by making it transparent, efficient, and paperless.

As of June 2026, it has recorded a cumulative Gross Merchandise Value (GMV) of over Rs 18.4 lakh crore, including Rs 5 lakh crore in FY 2025–26, while enabling over 11 lakh MSMEs to access government markets.