UPI most-preferred mode for transactions now: Report

UPI has emerged as the most preferred mode of transaction, surpassing cash transactions, and there is a need for targeted interventions to strengthen RuPay debit card usage, particularly in rural and semi-urban areas, a report said.

The Department of Financial Services (DFS), Ministry of Finance, released a report titled “Socio-Economic Impact Analysis of the Incentive Scheme for Promotion of RuPay Debit Card and low-value BHIM-UPI (Person-to-Merchant) transactions” during the Chintan Shivir held on February 13-14, 2026.