UPI processed 85.5% of all payment transactions in India by volume in the second half of CY 2025 but accounted for just 9.5% of the total value — while RTGS, handling a mere 0.1% of volumes, dominated with 68.6% of total transaction value, according to the Reserve Bank of India's Payments System Report for December 2025. The data lays bare the structural divide in India's payments architecture: UPI as the engine of mass retail transactions, and RTGS as the silent workhorse of high-value settlements. NEFT occupied the middle ground, holding the second-highest share in both volume (3.6%) and value (14.9%), reflecting its versatility as a system capable of processing both small and large transactions with settlement within an hour