International Journal of Social Science Research (IJSSR)

Towards a Viksit Bharat: UPI as a Catalyst of Development in Urban Cachar

Unified Payment Interface (UPI), a contemporary payment system has been restructuring the financial and payment infrastructure of India. It has emerged as an alternative to traditional cash-based payment methods and is making the transaction process seamless, convenient, transparent, and secure. UPI has the potential to strengthen the financial infrastructure and market base of underdeveloped regions like Cachar. The study seeks to analyze the spread of these services and their impact on the socio-economic life of the educated urban masses of Cachar district using a set of primary data. The analysis also highlights how UPI has been influencing urban consumer decisions and their monthly consumption expenditures using descriptive statistics which is followed by policy suggestions to address the security concerns associated with the unique and newly discovered payment system of India.