Mumbai, Jan 28: The share of the Unified Payments Interface (UPI) in India’s digital payments has surged from 34 per cent in 2019 to an impressive 83 per cent in 2024, with a remarkable CAGR (cumulative average growth rate) of 74 per cent over the last five years, according the RBI’s payment system report.

In contrast, share of other payment systems like RTGS, NEFT, IMPS, credit cards, debit cards, etc. in digital payments volume declined from 66 per cent to 17 per cent during the same period, the report states.

UPI has been the most significant contributor to the growth of digital payments in India due to its usefulness and ease of use, the report points out.

At a macro level, the volume of UPI transactions increased from 375 crore in 2018 to 17,221 crore in 2024, whereas the total value of transactions surged from ₹5.86 lakh crore in 2018 to ₹246.83 lakh crore in 2024.

This amounts to five year CAGR of 89.3 per cent and 86.5 per cent in terms of volume and value, respectively, the report states.

Both P2P (person-to-person) and P2M (person-to-merchant) transactions leverage UPI’s secure and real-time payment capabilities, making it easier for individuals and businesses to execute financial transactions without relying on traditional, time-consuming methods.

The UPI P2M transaction volume has surpassed the UPI P2P transaction volumes since 2023, however, in value terms, the UPI P2P transaction value is still higher than UPI P2M transaction values.

Over the past few years, digital payments in India have witnessed a phenomenal growth buoyed by the spectacular progress of UPI and the plethora of digital payment options available. In 2024 alone, India recorded 208.5 billion digital payment transactions.

UPI P2M grew at a CAGR of 99 per cent for transaction values below Rs 500 over 2019-24. In contrast, UPI P2P grew at a CAGR of 56 per cent during the same period.

For higher ticket-sized transactions — those exceeding Rs 2,000 — UPI P2M grew at a CAGR of 109 per cent during the same five-year period, while UPI P2P recorded a CAGR of 57 per cent.

The National Payments Corporation of India’s (NPCI) low-value transaction payment method, UPI Lite, recorded 2.04 million transactions daily, valued at Rs 20.02 crore in December 2024.

“When Paytm and PhonePe introduced UPI Lite on February 15, 2023, and May 2, 2023, respectively, a sustained increase in UPI Lite payment volumes and values was observed,” the RBI report observes.

“UPI has propelled India to the forefront in the provision of digital payment solutions as ‘public good’. This public good approach has the potential to be adopted by other economies, whatever stage of development they are at. UPI and its features bear lessons on democratisation of the payment system to the smallest value and penetration of digital payments to previously unreached segments,” the report added.

Mumbai, Jan 27: Indian equity markets witnessed a sharp decline on Monday amid weak global cues and uncertainties over US trade policies which dampened domestic investors’ sentiment.

At the closing bell, the BSE Sensex shed 824 points or 1.08 per cent at 75,366, while the NSE Nifty50 slipped 263 points or 1.14 per cent at 22,829.

On the 30-stock Sensex, only six stocks managed to stay in the green. ICICI Bank led the gainers with a 1.75 per cent rise, followed by the SBI, Hindustan Unilever, Asian Paints, UltraTech Cement, and Maruti Suzuki India.

However, the majority of stocks faced losses like Zomato, Tech Mahindra, HCLTech and Tata Motors.

Similarly, on the Nifty50, 10 stocks traded higher. Britannia Industries emerged as the top gainer, rising 1.93 per cent, followed by ICICI Bank, Hindustan Unilever, Larsen & Toubro and Nestle India.

On the losing side, Bharat Electronics Limited (BEL) dropped 2.68 per cent, followed by HCLTech, JSW Steel and Trent.

Sectoral performance was largely negative. The Media index led the losses, falling 3.83 per cent, followed by the Pharma index, which declined 2.35 per cent, and the IT index, which shed 2.19 per cent.

The only exception was the PSU Bank index, which ended the day by showing a marginal gain of 0.12 per cent.

Broader markets experienced even sharper losses. The Nifty Midcap 100 fell 2.25 per cent, while the Nifty Smallcap 100 tumbled 3.51 per cent.

According to Rupak De of LKP Securities, the index slipped from its recent consolidation on the daily chart, heightening pessimism across the Indian equity market.

“Sentiment is likely to favour bearish trades in the short term, particularly as long as the index remains below 23,000. On the lower side, the prevailing weakness could potentially lead to a decline toward 22,500,” he mentioned.

Meanwhile, Asian markets saw mixed reactions. Hong Kong’s Hang Seng Tech Index rose 2 per cent, but Japan’s Nikkei 225 futures dropped 0.6 per cent.

India’s volatility index, the India VIX, climbed 7.36 per cent to 17.98.

Gold experienced volatile trading as the first session of the week saw profit booking, with Comex gold encountering resistance near $2,770 but maintaining strong support around $2,750, showcasing resilience to break below that level.

Ahmedabad, Jan 27: Adani Total Gas Ltd (ATGL) on Monday reported a 12 per cent increase in revenue from operations in the third quarter of FY25 at Rs 1,397 crore.

EBITDA for the nine months of the current fiscal stood at Rs 893 crore, up by 6 per cent (year-on-year), India’s leading energy transition company said in a statement.

“ATGL maintained its growth trajectory, focusing on customer centric approach and delivering a robust operational performance with a notable 15 per cent year-on-year increase in volume,” said Suresh P Manglani, ED and CEO, ATGL.

Despite the reduced APM gas allocation, “Team ATGL ensured an uninterrupted supply of CNG to our large masses of consumers by sourcing additional supplies of gas through alternative options,” he mentioned.

For ATGL, the allocation of APM gas for the CNG (T) segment was reduced from 63 per cent to 51 per cent from October 16, 2024, and then further from 51 per cent to 37 per cent, effective November 16 onwards.

Manglani stated the company is striving to further accelerate the development of PNG and CNG infrastructure across its 34 geographic areas (GAs), including the recently added Jalandhar GA in Punjab.

In Q3, the company increased CNG stations to 605 by adding 28 new stations and expanded PNG home connections to 9.22 lakh, by adding 28,677 new households.

It increased industrial and commercial connections to 8,913 adding 167 new consumers.

Along with the IndianOil-Adani Gas Pvt Ltd (IOAGPL), the company now has a combined network of 999 CNG stations, with 41 new stations added in the quarter. PNG home connections crossed the 1-million mark to 1.09 million across the country, touching over 4 million lives on a daily basis.

IOAGPL is a joint venture company of Indian Oil Corporation (IOC) and Adani Total Gas Limited.

Further, ATGL has also formed two wholly-owned subsidiaries — Adani TotalEnergies E-Mobility Ltd (ATEL) and Adani TotalEnergies Biomass Ltd (ATBL) for its E-Mobility and biomass business, respectively.

About 1,914 EV charging points have already been commissioned across 226 cities and charge points have now increased to 20 airports in India, informed the company.