According to a report, 57% of women micro-business owners had no idea that UPI-based solutions

Current Context: The report titled “Digital Payments Adoption Among Women Micro-Business Owners in India” was presented on August 28, 2024, at the Global Fintech Fest released by Women’s World Banking.

• It revealed that 57% of women micro-business owners were unaware of UPI-based solutions.
• The report highlighted barriers such as lack of awareness, digital literacy, and trust issues.
• It also emphasized the need for targeted awareness campaigns and training programs to boost digital payment adoption among women entrepreneurs.
• The findings aim to guide policymakers and financial institutions in designing more inclusive digital financial services.

Question:

1 What percentage of women micro-business owners were unaware of UPI-based solutions, as revealed in the “Digital Payments Adoption Among Women Micro-Business Owners in India” report presented at the Global Fintech Fest on August 28, 2024?

• A) 45%
• B) 70%
• C) 62%
• D) 57%

Answer: D) The “Digital Payments Adoption Among Women Micro-Business Owners in India” report revealed that 57% of women micro-business owners were unaware of UPI-based solutions, indicating a significant gap in digital payment awareness among this group.