365elugu.com online news,Hyderabad, June 18th,2025: India’s digital finance revolution is rapidly expanding, with the Unified Payments Interface (UPI) seeing an unprecedented surge in adoption, particularly among the lower-middle class. According to the “Great Indian Wallet 2025” report released by Home Credit India, UPI usage has climbed to 80% by 2025, a significant increase from 72% last year.
Hyderabad Leads in Digital Payments Growth
Digital transactions aren’t just limited to UPI. The number of online loan applications has reached 50%, now on par with offline channels. Digital retail payments also constitute 51% of all transactions, up from 42% in 2024. Among cities, Hyderabad (93%) and Kolkata (87%) are leading the charge in UPI adoption. However, the report warns that nearly half of users might stop using UPI if fees are introduced.
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Digital Frauds and Financial Data Security Remain Key Concerns
Despite improved digital access, risks persist. While 74% are aware of online financial fraud, a concerning 20% have already fallen victim. Worryingly, 28% of users share their financial details with friends or family, and 25% store them on their smartphones. The report underscores the critical need for increased awareness in these areas.
Rising Incomes Fuel Optimism
Despite financial pressures, the report highlights positive trends in income. A significant 57% of respondents reported higher incomes this year, up from 52% in 2024. The average monthly income stands at ₹33,000, with essential spending averaging ₹20,000. In metro cities, incomes average ₹36,000 against expenses of ₹23,000, while in Tier-2 cities, the figures are ₹30,000 and ₹17,000, respectively.
Optimism remains strong, with the Future Expectations Index holding at 59. A large majority of 73% are confident of meeting their financial goals within five years, and 76% expect their financial situation to improve. Furthermore, 28% believe that affordable credit is key to achieving their aspirations, and 65% are convinced it will accelerate their progress.
This survey, conducted across 17 cities, underscores that India’s lower-middle class is becoming increasingly digital, aspirational, and financially aware. However, the report also emphasizes the need for targeted interventions in digital safety, financial literacy, and inclusive credit access.