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Visualisation by Sadhana Saxena Saxena via AI
Synopsis
NPCI has seen a surge in profits, but the banks that process UPI transactions are struggling to keep up with the increasing volume. While there are ways to improve a bank’s system performance, some are simpler, and others are more complex.
The National Payments Corporation of India (NPCI), which operates the Unified Payments Interface (UPI) platform, reported a net profit increase of 37% in FY24 at INR1,134 crore. This makes NPCI one of the most profitable entities in the country with over INR1,000 crore in profits. While NPCI is enjoying this financial success, the broader payments ecosystem is facing challenges. There are two aspects here. First, banks’ systems are overburdened
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