NPCI attributes fin year-end processing load for UPI transaction failures

Digital payment users on Tuesday faced issues in processing transactions on India’s real-time payments system Unified Payments Interface (UPI), with the National Payments Corporation of India (NPCI) attributing the reason to the closing of the financial year 2024-25 (FY25).

“Today due to the financial year closing, some of the banks are facing intermittent transaction declines. UPI system is working fine, and we are working with the concerned banks for necessary redressal,” NPCI, which runs the UPI rails in the country, said in a statement.