In October 2024, UPI processed an impressive ₹23.49 lakh crores across 16.58 billion financial transactions, marking a 45% year-on-year growth from 11.40 billion transactions in October 2023. With 632 banks connected to its platform, this surge in usage highlights UPI's expanding dominance in India's payment landscape. It has had a profound impact on small businesses, street vendors, and migrant workers, offering them an easy and efficient way to transfer money and receive payments.