A Study on the growth of UPI transactions and its impact on Traditional Banking

ABSTRACT This paper explores the rapid growth of UPI (Unified Payments Interface) transactions in India and examines its implications for traditional banking systems. The introduction of UPI revolutionized the way digital payments are conducted in India, making transactions seamless, instant, and cost-effective. This study investigates the factors contributing to UPI's rise, the shifts in consumer behaviour it has prompted, and the challenges and opportunities it poses to traditional banking institutions. The research highlights how UPI has reshaped the Indian financial ecosystem and explores the future of banking in an increasingly digital economy. KEYWORDS Unified Payments Interface (UPI) , Digital Payments , Digital Economy.