Archive · 9 Dec 2025
Digital Gold Purchases Via UPI Slow Down
Buying digital gold using UPI has slowed down for the first time this year in November.
The value of these purchases dropped by 47% compared to October, but the number of transactions increased by 6.44%.
This slowdown happened after a warning from the Securities and Exchange Board of India (Sebi), which said that digital gold is not under their control.
Sebi also mentioned that these digital gold products are being sold as an alternative to buying physical gold.
In January, there were 50.93 million transactions worth Rs 761.6 crore.
The slowdown is notable because digital gold purchases had been increasing every month in 2025 due to features like UPI Autopay and the ability to invest small amounts daily.
The value of digital gold purchases via UPI dropped 47% in November to Rs 1,215.36 crore from Rs 2,290.36 crore in October.
The volume of digital gold purchases increased by 6.44% to 123.42 million transactions in November from 115.95 million in October.
Digital gold purchases had been growing month-on-month in 2025 due to features like UPI Autopay and small-ticket investments.
In January, there were 50.93 million digital gold purchases worth Rs 761.6 crore.
Sebi issued an advisory on November 8 stating that digital gold products are outside its purview and cannot inspect fintech players' physical vaults.
- Who
- Investors and fintech players
- What
- Slowdown in digital gold purchases via UPI
- When
- November 2025
- Where
- India
- Why
- Sebi's advisory cautioning investors and stating digital gold products were outside its purview
- Value of digital gold purchases in November
- Rs 1,215.36 crore
- Value of digital gold purchases in October
- Rs 2,290.36 crore
- Volume of digital gold purchases in November
- 123.42 million transactions
- Volume of digital gold purchases in October
- 115.95 million transactions
- Value of digital gold purchases in January
- Rs 761.6 crore
- Volume of digital gold purchases in January
- 50.93 million transactions
- Date of Sebi's advisory
- November 8