A new survey reveals that about 38% of women in rural and semi-urban India use the Unified Payments Interface (UPI) at least once a week, underscoring the rapid spread of digital payments beyond major cities and among women traditionally underserved by formal financial services. The findings come from the “Women Financial Index 2026” — a nationwide survey of 10,000 women agents conducted by fintech firm PayNearby, which facilitates digital payments and financial services in smaller towns and villages.

Key Highlights

• 38% of women in rural and semi-urban India use UPI weekly for digital payments.
• Women increasingly act as primary household savers, yet formal savings penetration is limited at 32%.
• There is growing interest in investment and credit products, signalling deeper financial engagement.

According to the report, women are increasingly relying on UPI for everyday transactions such as buying groceries, paying utility bills and topping up mobile phones, indicating that digital payments are becoming more embedded in routine household financial management. Despite this surge in digital usage, only 32% of women currently save through formal financial institutions like banks, showing that while UPI adoption is strong, traditional financial inclusion still has room to grow.

The survey also highlights the expanding role women play as household financial managers — with 85% of respondents identifying as the primary savers in their families and tailoring savings goals toward children’s education, medical emergencies and household expenses. Flexible savings products such as recurring and fixed deposits resonated strongly, with an overwhelming 98% of women open to using such tools.

While cash remains important — especially for small daily expenditures — digital transactions are steadily becoming part of everyday life in rural and semi-urban areas. Notably, 71% of the women surveyed said they now operate their bank accounts independently, a significant shift in financial confidence and autonomy.

Trust also emerged as a key factor in financial behaviour: 78% of women expressed a preference for transacting through female agents, attributing greater comfort and familiarity with women serving as facilitators of digital finance.

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The PayNearby report further points to rising interest in investment and credit products among women. About 44% showed willingness to invest in small-ticket gold-based savings products, reflecting the traditional and enduring appeal of gold as a store of value in India. Meanwhile, roughly 73% indicated openness to formal credit, primarily for healthcare, education, agricultural inputs, home repairs and small business needs, suggesting a broader shift toward using formal financial channels for strategic life goals.