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UPI Emerges as Most Preferred Payment Mode in India, Study Finds

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New Delhi, Feb 16 (IANS) UPI has emerged as the most preferred mode of payment, accounting for 57 per cent of total payment transactions in India, surpassing cash transactions at 38 per cent, primarily due to ease of use and instant fund transfer capability, according to an independent study commissioned by the Finance Ministry.Digital payments now dominate everyday transaction behaviour, with 65 per cent of UPI users reporting multiple digital transactions per day. Preference for UPI is particu…