BBC · 14 Sep, 23:15 · Business briefing

Why cash continues to thrive even as India's digital payments grow

Despite the rapid expansion of digital payment infrastructure in India, cash remains a dominant force in the economy.

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The briefing

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Despite the rapid expansion of digital payment infrastructure in India, cash remains a dominant force in the economy. Recent reports highlight that while UPI transactions surge, physical currency circulation continues to thrive, particularly in rural areas and small-scale commerce. This persistence underscores structural challenges in digital adoption, including trust issues, infrastructure gaps, and user preference. For professionals, this duality signals that the transition to a fully cashless society is more complex than initial projections suggested, requiring nuanced strategies that accommodate both digital and traditional financial ecosystems.

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You must recognise that digital transformation is not a binary switch but a hybrid reality. This development elevates the value of skills in financial inclusion strategy, regulatory compliance, and risk management. Professionals in fintech, banking, and public policy should pay close attention to the operational realities of cash handling alongside digital systems. A smart professional would next deepen their expertise in Compliance And Governance to navigate the regulatory complexities of dual payment systems. Simultaneously, you should strengthen your analytical capabilities through Data Science to interpret mixed-mode transaction data accurately. By mastering these areas, you position yourself to advise organisations on resilient financial strategies that respect user behaviour while advancing digital adoption, ensuring your career remains relevant in a fragmented yet evolving market.

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