Top 10 banks record 3% failed UPI transactions, Some could have upto 40%
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As India is close to crossing 2 Bn UPI transactions, the surge in failed transactions has become a worry for India’s top banks. According to the data shared by the National Payments Corporation of India (NPCI), about 10 of the top 30 banks have recorded a failure rate of over 3% in September 2020. 9 of these 10 banks are state-owned, with the United Bank of India recording the highest rate of technical declines at 12.4%.