Prepaid Payment Instruments (PPIs)

The digital payment ecosystem has evolved and seen robust growth in India, but its impact has not been the same on everyone. Analyze. (250 Words)

Approach:

• Introduce by giving a statistic on digital payment adoption in India. Give few examples of new modes of digital payments like PPI, UPI, etc.
• Discuss why digital payment’s spread has been uneven like the rural-urban digital divide, lack of financial literacy, etc.
• Enumerate efforts made by the government in promoting digital payments
• What more needs to be done and Way forward
• Conclusion