UPI Transaction Failures Drop Significantly During Festive Season, Banks Show Marked Improvement

Overview

UPI payment transaction failures saw a substantial decrease during the recent festive season, marking a period of enhanced reliability. Major banks, including State Bank of India, HDFC Bank, ICICI Bank, and Axis Bank, demonstrated significantly improved performance with lower failure rates. Public sector banks also reported notable progress. However, some smaller banks and regional lenders, like Punjab and Sind Bank, continue to face infrastructure challenges, while payments banks showed mixed results.