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Bloomberg Quint

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Image Credit: Bloomberg Quint

UPI, Insurance Adoption See Significant Growth In Rural India: Report

  • UPI transactions at retail stores in semi-urban and rural areas have risen by 33% this year, highlighting the rapid adoption of digital payments.
  • Insurance policy purchases and premium collections in rural and semi-urban areas witnessed a 127% surge, with new customer adoption growing by 96%.
  • There has been a remarkable 297% volume rise in credit products in rural and semi-urban areas, including business loans, gold loans, personal loans, and revolving credit.
  • Micro ATM and Aadhaar Enabled Payment Systems cash withdrawals saw a decline in 2024, but AePS withdrawals surged 35-45% during DBT releases.

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