Report on RuPay & BHIM-UPI Incentive Scheme

Why in News?

Recently, the “Socio-Economic Impact Analysis of Incentive Scheme for Promotion of RuPay Debit Card and low-value BHIM-UPI (Person-to-Merchant) Transactions” was released at Chintan Shivir 2026.

• Released by – Department of Financial Services (DFS), Ministry of Finance.
• Conducted by – An independent third-party research agency in consultation with National Payments Corporation of India (NPCI).
• Objective – Accelerating universal adoption of digital payments, reducing dependence on cash, and formalising routine economic activity.

Digital transactions increased nearly 11 times, with UPI’s share in total digital transactions surging to ~80%, between 2021 and 2025

• Coverage – Sample Size – More than 10,000 respondents (users, merchants, service providers).
• Geographical Coverage – 15 States across 5 zones (North, South, East, West, North-East).
• Key Findings –

• Recommendations – Strengthen RuPay debit card usage, especially in rural/semi-urban areas.
• Promote low-value digital payments (e.g., UPI Lite).
• Invest in connectivity, digital literacy, and fraud mitigation.
• Significance – Increased formalisation, transparency, business efficiency, fintech innovation, and financial inclusion.
• Reinforces India’s Digital Public Infrastructure (DPI) and vision of a less-cash, inclusive digital economy.

Reference

PIB | Report on RuPay & BHIM-UPI Incentive Scheme