5 lakh IPO transactions processed in June by SBI
Image Credit: BCCL
In the month of June 2021, about 5.5 lakh crore was moved through 2.8 billion transactions on the Unified Payments Interface (UPI). This is the first increase in UPI transactions since April 20, 2021. Yet again, Flipkart-owned PhonePe leads the UPI market with over 1.2 billion transactions, accounting for 42 % of all transactions processed through the payment system. In June, the State Bank of India (SBI) was the largest IPO remitter.