UPI Growth Slows as Cash Usage Rises: Government Considers MDR

UPI transaction growth is slowing while cash usage increases, raising concerns for the economy. An analysis by The Hindu highlights this trend, revealing that despite a slowdown since 2021-22, UPI's growth rate remains above that of cash transactions. As the government contemplates implementing a Merchant Discount Rate (MDR) on UPI, the dynamics of digital and cash payments are crucial for understanding economic shifts.