Cash usage accelerates in the economy, growth rate of UPI transaction value declines
According to an analysis by The Hindu, the annual growth of UPI transaction value has been slowing down since the financial year 2021-22, while the use of cash in the economy is increasing.
Translated from the Hindi original · translation AI-generated
According to a recent analysis by The Hindu, a continuous decline has been recorded in the growth rate of the total value of UPI transactions since the financial year 2021-22. In contrast, an increase has been observed in the pace of cash usage within the country's economy. However, according to the data, the current growth rate in the value of UPI transactions still remains higher compared to the growth rate of currency with the public.