Digital payment transactions (including UPI) surged with over 18,120 crore transactions in 2024-25 (till January this year), with transaction value crossing Rs 2,330 lakh crore. The growth has been driven by Unified Payment Interface (UPI), which grew at a CAGR of 69 per cent. The UPI has captured around 70 per cent of total digital payment transactions in FY 2023-24. An incentive scheme has been implemented since FY 2021-22 to incentivise the banks and other ecosystem partners for promotion of digital payments including promotion of UPI. A dedicated Incentive Scheme for Banks (ISB) portal has also been developed to create awareness and seamless data collection. The government has set up a DIGIDHAN mission to promote digital payments and strengthen the digital payments ecosystem in the country. The number of banks offering digital. payments including UPI payments have increased from 216 in FY 2011-12 to 572 in FY 2012-13, the minister said.