New Delhi, Oct. 3 -- India's digital financial ecosystem has expanded rapidly, putting the convenience of instant payments within reach of hundreds of millions of people. However, access to these services has not yet translated into equally widespread participation in wealth-building products such as equities and mutual funds.

A recent EY India report highlights this disparity clearly, as it noted that India has more than 550 million people active UPI (unified payments interface) users, compared with around 62 million individuals investing in mutual funds and nearly 50 million actively participating in equity markets.

The figures, the report says, points to an evident gap between access to digital financial services and participation in...