Banks live on UPI rise nearly fivefold to 731 between 2020 and 2026 | Finance News
In just six years, the number of banks live on India’s real-time payments system, Unified Payments Interface (UPI), has nearly quintupled to 731 institutions in June 2026 from just 155 banks in June 2020, signalling growing adoption among financial institutions.
A year earlier, in June 2025, this number stood at 675 banks. Sequentially, UPI added 11 more banks, growing from 720 banks in May 2026, according to data from the National Payments Corporation of India (NPCI).
The growing adoption of UPI by regulated financial entities has allowed users to link their bank accounts to the payment rails and transact digitally.
This has enabled UPI to clock 22.71 billion transactions in June 2026 alone, up 23.5 per cent from 18.39 billion transactions in June 2025. Six years earlier, this number was just 1.33 billion transactions in June 2020.
The number of banks live on NPCI’s Bharat Interface for Money (BHIM) has grown to 553 in June 2026 from 512 in June 2025. Sequentially, the number of banks grew from 546 in May 2026.
The BHIM app has recorded 278.5 million Android downloads and 9.57 million downloads on iOS devices.
In 2024, BHIM was hived off as a wholly owned subsidiary of NPCI into a new entity known as NPCI BHIM Services Ltd (NBSL).
