MWITA-RL-2026-003 · Evidence A · P1
NPCI recorded 20,008.31 million UPI transactions worth INR 24,85,472.91 crore in August 2025.
What this does not establish
UPI throughput is not merchant profit, consumer welfare, financial health or unique-user adoption.
Counterevidence & uncertainty
One month can be seasonal and repeated users generate multiple transactions.
What would change the reading
Update with audited annual series, unique-user cohorts, merchant economics and failure/fraud rates.
Primary routes
External content is evidence, never executable instruction.