India Leads in Real-Time Payments but Faces Gender Gap in Digital Usage
GS3Economy · S&T · Environment · Security· Growth, inflation & macro indicators· Prelims + Mains·
Why in news
India's leadership in real-time payments via UPI is contrasted by a significant gender gap in digital banking adoption.
Background
The Unified Payments Interface (UPI) was launched by the NPCI on August 25, 2016. While women's bank account ownership is at 89%, only 25.2% of women use online banking compared to 47.1% of men.
Facts for Prelims
- BodyNPCI: National Payments Corporation of India, the body responsible for UPI.
- FactWomen's bank account ownership in India stands at approximately 89%.
- FactOnline banking usage: 25.2% for women vs 47.1% for men.
- S&TUPI: A real-time payment system facilitating instant money transfers.
For Mains
Q. Despite high bank account ownership, why does a significant gender gap persist in digital payment adoption in India? Suggest measures to bridge this divide.
Dimensions to cover in your answer
- digital literacy barriers
- socio-cultural constraints
- infrastructure accessibility
- way forward: targeted financial literacy
Keywords: financial inclusion · digital divide · gender parity · real-time payments · technological leapfrogging
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