Obnews Tech Desk: The UPI system across the country is suffering from frequent malfunctions these days, due to which users are facing a lot of difficulty in transaction. Keeping this in mind, Finance Minister Nirmala Sitharaman held a high -level review meeting on Monday, in which the flaws of UPI Infrastructure were discussed.

Finance Minister's big target – 1 billion transactions daily

In the meeting, the Finance Minister clearly stated that a target of 1 billion transactions has been set daily through UPI in the coming 2-3 years. He instructed the concerned departments to together fix the flaws of the existing system, so that there is no obstruction in the service. The meeting was called after three major outage incidents in UPI recently – March 26, April 2 and April 12, when UPI services suddenly stopped.

Senior officials present in the meeting

Senior officials like Finance Secretary Ajay Seth, Financial Services Secretary M. Nagaraju and NPCI's MD and CEO Dilip Asbe were also present in this important meeting. The Finance Minister directed the officials to intensify the process of adding more traders and users to the UPI network.

26 crore new users connected, focus on real-time monitoring

According to NPCI data, between 2021-22 and 2024-25, about 26 crore new users and 5.5 crore traders are associated with UPI. Now the attention is on the fact that the system should be strengthened so that service does not obstruct service through real-time monitoring.

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Growing presence of new UPI apps

New apps like Super.money, Navi, BHIM and Cred are also emerging rapidly on the UPI platform. These companies are attracting consumers through cashback and other offers. Their market share has reached 4% by March 2025, which was just 2.3% in October 2024.

However, PhonePe and Google Pay are still about 82% of the market. The main objective of the government and NPCI is now that technical stability should be maintained and the trust of users should be maintained.