ACCEPTANCE PATTERN OF UPI REMITTANCE IN NEO NORMAL SITUATION - A COMPARATIVE STUDY BETWEEN RURAL AND URBAN AREAS OF WEST BENGAL

Abstract

Digitalization can be elucidated as the process of using technology and telecommunication advancement in every facet of day-to-day way of living. Dynamic and super-active life style of mankind has transformed their attitude towards technological driven remittance system. Moreover, the Covid-19 pandemic has threatened the survival of existing system of cash-based economy. People have learnt a lot of newness and challenges have been accepted. This work mainly attempts to analyse on the acceptance pattern of Unified Payments Interface (UPI) as a modern unified standardised remittance platform during pre and post covid periods in India between rural and urban regions at preferred locations of West Bengal. UPI is a revolutionary, user-friendly, real time payment solution that facilitates interbank transactions, and enables high security with greater digital payments adoption in the country. UPI can be one of the reliable, economical and sustainable solutions for remittance sector over the existing traditional forms including IMPS, NEFT etc.