SBI), Axis Bank Ltd, HDFC Bank Ltd. and Paytm Payments Bank Ltd. (PPBL) have led the pack in November among the top remitter banks, initiating close to half or 1.1 billion of the total Unified Payments Interface (UPI) transactions processed in November, according to latest data released by National Payments Corporation of India (NPCI).Among the remitter banks, which hold the bank account of the sender of UPI transactions, SBI closed almost 608 million UPI transactions in November and saw the maximum technical decline rate of 3.12%, with overall approval rate of 90.52%.
While PPBL saw the lowest technical decline rates among the top banks at 0.08%.A technical decline rate is a parameter for transactions declined due to reasons, such as.