How UPI replacing cash in semi-urban and rural India

Cash is not a king anymore. As we all know right now UPI is the original king. People love to do cashless payments. UPI payments are safer and easier. Nowadays people don’t use cash much as people love to use UPI payemnets in India. So in this article, we are going to learn how UPI is replacing cash in semi-urban and rural India. As we all have seen UPI has triggered a financial revolution in the entire India and the change is now more evident and significant in the round 2 and 3 regions. There most of the cash was essentially the only plausible medium, of the transaction.


The full form of UPI is the Unified Payments Interface. It is an India homegrown payment system that has emerged as the front-runner in all the ways of digital payments. It has been reported that the volume of UPI transactions has now increased multi-fold from the time of its launch. UPI was officially launched in 2016. Now UPI has hit the pangs in the semi-urbans and it has also spread in rural India. It has now displaced traditional cash transactions. There is not any validation of the change other than the surge in the UPI mode transactions from a mere 1.8 crore in FY 2016 to 17 for the staggering 8,375 crore in FY 2022-23.

The chairman of BLSE Services, Shikhar Aggarwal has said that in semi-urban and rural India the digital revolution quietly has now unfolded the UPi which has now emerged as a powerful force but it has displaced the traditional cash transactions. There are some communities in which the cash is king but now that communities are also shifting to the UPI mode of transaction. He has also said that there is a transformation driver technology but it is fuelled by the millions. It has bridged the digital divide and it has offered a big path to prosperity which has been unimaginable before.

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Shikha Aggarwal has also said that UPI payment is not replacing the catch but it is making the modes brighter and the future is becoming better and financial independence. This is just because of the fusion of technology and vision. Currently, the UPI has triggered a financial revolution in the entire India. In 2023, there are new UPI features were launched and those include Hello! UPI, Credit Line on UPI, LITE X product, and UPI Tap & Pay Facility. These features have been launched this year and they are on the top right now.

Prakash Israni
Prakash Israni

Prakash, the content creator for Techballad, has built a solid reputation for himself over the course of more than ten years of blogging