business ๐ Cash surging as UPI charges loom?
Cash in public hands has seen significant growth over the past five years according to RBI data analysis. This trend is notable in India, where the margin between cash and UPI transactions is decreasing. For FY27, cash in public hands reached โน41.8 lakh crore, showing a 13% year-on-year increase. If MDR charges are implemented on UPI, public behavior might shift back towards physical cash. This legislative change could impact consumers even if the fees are primarily aimed at merchants. ๐ธ