While the micros might be challenging at the moment, the macros are in place for the Indian economy to grow to reach the $5 trillion target the government has set for itself.
Although UPI transactions did go down in May, it doesn’t mean that the trend will continue.
Fintech can change the habits and behavior of the Indian population if it gets adequate support from regulators.
The Ombudsman Scheme for Digital Transactions, 2019 aims to quickly and resourcefully resolve complaints and grievances related to digital payments.