Index Fund Corner
Sponsored
| Scheme Name | 1-Year Return | Invest Now | Fund Category | Expense Ratio |
|---|---|---|---|---|
| Axis Nifty 50 Index Fund | +32.80% | Invest Now | Equity: Large Cap | 0.12% |
| Axis Nifty 100 Index Fund | +38.59% | Invest Now | Equity: Large Cap | 0.21% |
| Axis Nifty Next 50 Index Fund | +71.83% | Invest Now | Equity: Large Cap | 0.25% |
| Axis Nifty 500 Index Fund | — | Invest Now | Equity: Flexi Cap | 0.10% |
| Axis Nifty Midcap 50 Index Fund | +46.03% | Invest Now | Equity: Mid Cap | 0.28% |
Challenges facing UPI
While UPI has seen impressive growth, experts acknowledge several challenges ahead.
Mehul Mistry, Global Head of Strategy at Wibmo, points to security and privacy concerns as key areas that will need attention as UPI scales.
Managing the increasing transaction volumes and combating fraud are essential for maintaining the platform’s credibility.
Kunal Varma, Co-Founder and CEO of Freo, highlights the technological and cybersecurity challenges posed by UPI’s expansion. As transaction volumes increase, the underlying infrastructure must evolve to handle the load while ensuring consistent performance.
Additionally, cybersecurity risks and cross-border regulations may pose challenges as UPI continues to grow.
Shikhar Aggarwal, Chairman of BLS E-Services, notes the importance of scalability and reliability to sustain UPI’s growth. As UPI extends its reach to more remote areas, ensuring a seamless user experience for less tech-savvy individuals will be crucial. Security remains a top priority, and ensuring robust measures are in place is essential.
Safety tips for UPI users
To ensure safe UPI transactions, experts suggest the following best practices:
Secure devices and accounts
- Set a strong UPI PIN and avoid sharing it.
- Use device locks like PINs, fingerprints, or face recognition to secure your phone.
- Download UPI apps only from trusted sources, such as official app stores or your bank’s app.
Verify recipient details
- Always double-check the recipient’s UPI ID, mobile number, or account details before sending money.
- Scan QR codes only from trusted sources and avoid unsolicited QR codes.
Be cautious of scams
- Be wary of payment requests disguised as rewards or refunds. Verify the request before acting.
- Avoid clicking on suspicious links that promise cashback or prizes.
Avoid public Wi-Fi
- Use a secure and private internet connection for UPI transactions to reduce the risk of data breaches.
Kunal Varma also emphasises the importance of user awareness, such as regularly updating UPI apps and using strong authentication methods.
He suggests avoiding public Wi-Fi and promptly reporting any suspicious activities to the bank.
The future of UPI
Looking forward, the UPI ecosystem is expected to continue evolving with support from the government. Kunal Varma mentions the need for sustained financial incentives to drive digital payment adoption, particularly in rural areas.
Shikhar Aggarwal adds that government initiatives promoting financial literacy and cybersecurity will be crucial for UPI’s continued success.
(Edited by : Shoma Bhattacharjee)
