Indian Banking EcosystemComplete Knowledge Base
How money moves in India, and the technology underneath it. Follow a payment across the map, then open any stop to go deeper. Every figure links to its source.
In August 2026, UPI handled 24.51 billion transactions1Business Standard. UPI sets new record at 24.51 bn transactions in Aug, value at ₹29.82 trn. As of 31 August 2026., the most in any month so far: about 791 million a day1Business Standard. UPI sets new record at 24.51 bn transactions in Aug, value at ₹29.82 trn. As of 31 August 2026..
Reported from NPCI data, as of 31 August 2026. Latest figures: RBI payment system indicators2Reserve Bank of India. Payment System Indicators (monthly). As of 29 September 2026..How a payment travels
Select a rail to isolate it, or a stop to read about it.
Pick a stop
Each stop is an institution or system that a payment passes through. Where lines meet, several rails share the stop.
Payer
The person or business paying. A UPI payment starts in an app; other rails start with an instruction to the payer's bank.
- UPI
Company
Employers, lenders and billers send bulk files, such as salaries or loan instalments, through their sponsor bank to NACH.
- NACH
Payer's bank
Holds the payer's account, checks funds and authentication, and debits the account.
- UPI
- IMPS
- CTS
- Cards and ATMs
- RTGS
- NEFT
NPCI
The National Payments Corporation of India runs retail payment systems, including UPI and the National Financial Switch for ATMs.
- UPI
- IMPS
- CTS
- NACH
- Cards and ATMs
ATM
A withdrawal at another bank's ATM travels through the National Financial Switch to the bank that issued the card.
- Cards and ATMs
Payee's bank
Credits the payee. For UPI and IMPS the customer is credited at once, and the banks settle among themselves later.
- UPI
- IMPS
- CTS
- NACH
- RTGS
- NEFT
Payee
The person or shop receiving the money.
- UPI
IFTAS network (SFMS)
Indian Financial Technology and Allied Services, an RBI subsidiary, runs INFINET and SFMS, the network and messaging layer that carry RTGS and NEFT.
- RTGS
- NEFT
RBI
The Reserve Bank of India runs RTGS and NEFT, and holds the accounts in which banks settle with one another.
- RTGS
- NEFT
Text version of the map
- UPI (Unified Payments Interface): Payer, then Payer's bank, then NPCI, then Payee's bank, then Payee.
- IMPS (Immediate Payment Service): Payer's bank, then NPCI, then Payee's bank.
- CTS (Cheque Truncation System): Payer's bank, then NPCI, then Payee's bank.
- NACH (National Automated Clearing House): Company, then NPCI, then Payee's bank.
- Cards and ATMs (National Financial Switch): ATM, then NPCI, then Payer's bank.
- RTGS (Real Time Gross Settlement): Payer's bank, then IFTAS network (SFMS), then RBI, then Payee's bank.
- NEFT (National Electronic Funds Transfer): Payer's bank, then IFTAS network (SFMS), then RBI, then Payee's bank.
- Banks settle their NPCI positions net, in their accounts at RBI.
Suggested reading path
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How to use this site
Follow the map
Select a rail on the map above to see which institutions a payment passes through, then open a stop to read about it.
Search
Press the slash key, or use Search in the header, to find any topic or short name.
Short names
Hover, focus or tap an underlined term such as UPI to see what it stands for. Every term is in the glossary.
Sources
Every figure carries a numbered source and the date it was true. How facts are checked.
Written and maintained by Neeraj Prem. This is an independent reference. It is not official documentation of RBI, NPCI or any bank, and it is not legal, compliance or investment advice. Rules and figures change; each page shows when its facts were last checked.
Sources
- UPI sets new record at 24.51 bn transactions in Aug, value at ₹29.82 trn. Business Standard. Reported, accessed 29 September 2026. Supports: UPI processed 24.51 billion transactions worth ₹29.82 trillion in August 2026, its highest monthly volume to date (as of 31 August 2026); UPI averaged 791 million transactions a day in August 2026 (as of 31 August 2026).
- Payment System Indicators (monthly). Reserve Bank of India. Primary source, accessed 29 September 2026. Supports: RBI publishes monthly Payment System Indicators with volumes and values for every payment system; the latest edition found covers July 2026 (as of 29 September 2026).