‘Cash is making a comeback’ in digital India

The resurgence of physical currency in India is being driven by the shadow economy, where cash transactions remain prevalent. As digital payment platforms like UPI gain traction, a new regulatory charge could further diminish their appeal. This shift underscores the persistent reliance on cash for certain economic activities, highlighting the complexities of fully transitioning to a digital-first economy. It’s a crucial development that could reshape how money moves in the country.