New Delhi, Nov. 27 -- India's wealthiest regions are adopting digital payments at significantly lower rates than poorer states, according to new research which also highlights a sharp age and gender divide in the country's much-celebrated fintech revolution.
The study, published in the Journal of Emerging Market Finance by economists Nilanjan Banik and Pranjal Chandrakar, finds that older Indians and women are markedly less likely to use digital payments, even after accounting for access to bank accounts, smartphones, and internet connectivity.
Meanwhile, prosperous states such as Delhi, Gujarat, Karnataka, and Chandigarh show unexpectedly weak uptake compared with states like Telangana and Tamil Nadu. Drawing on a nationally representati...