This is the change encountered by electronic payments instruments between Nov and December 2016.
– UPI is up by 533% (though remains very small in absolute terms).
– Mobile banking went down by 7% (in terms of volume).
– USSD recorded the maximum growth (in terms of volume and value).
How big is UPI? Take a look at data of share captured by different electronic payment instrument (by volume).
What insights are you deriving from these?