UPI Soars, Debit Cards Fade

RBI's latest data shows Indians use UPI for small daily payments but rely on RTGS for big transfers. Debit cards are losing ground while credit card spending is climbing fast. Here's what this shift means for your wallet.

Here's what happened: UPI has become India's dominant retail payment method, handling billions of low-value daily transactions from groceries to rent.. Debit card usage is steadily declining as UPI replaces tap-and-swipe for most everyday purchases at shops and online.. Credit card spends are rising sharply, with more Indians using cards for EMIs, online shopping, and reward-point benefits..

What you should do: Check your UPI transaction limits — NPCI allows up to ₹1 lakh per transaction, but some banks set lower limits by default.. Review your credit card statement monthly for reward points expiry — unclaimed points worth hundreds of rupees lapse every year.. Use RTGS (minimum ₹2 lakh) for large transfers like property payments — it settles instantly and is safer than NEFT for time-sensitive deals..

Pro tip: For transfers above ₹2 lakh, always choose RTGS over IMPS — RTGS is RBI-operated, has no upper cap, and settles in real time with zero fraud risk from third-party apps.