UPI vs the Rs 40 lakh crore wall: Why cash is still winning
- Posted on March 13, 2026
- By Financial Express
- 5 Views
UPI vs the Rs 40 lakh crore wall: Why cash is still winning
In January 2026, UPI transactions touched a record Rs 28.3 lakh crore in value. But cash hasn’t disappeared. Despite digital payment booming, the amount of cash circulating in the economy is still rising. Who is still using cash and why?
