07 Apr Financial Inclusion and The Rise of Independent Incomes in Rural India Through FinTech Apps
Read: – 1:50 mins
To achieve a 100% financial inclusion, technology is the only drive. There are various technological innovations that are aimed at breaking the barriers of urban-rural divide can bring more technology-hesitant people within the ambit of financial inclusion. While the tech industry has propelled multiple other sectors towards unparalleled growth, financial inclusion and last mile financial connectivity remains challenging. It is for FinTech players to empower Tier III & IV people with tools that help them to generate an additional independent income simply using their smartphones. As India is moving towards becoming a less-cash economy, rural consumers that constitute a major portion of that economy are becoming more confident about adopting new digital technologies and payment methods.
A large population of India is still unbanked. FinTech today offers a multitude of opportunities to the rural and urban population – both consumers and sellers. E-commerce and FinTech outreach in semi urban and rural India have led to a rise in the number of entrepreneurs from remote areas of India. it has been spotlighted for us to understand that FinTech today offers a multitude of opportunities to the rural and urban population – both consumers and sellers. It is everywhere – in our phones, on our desktops, in the big malls, at the fuel stations, and even at the local kiraana stores near you. From something as basic as a mobile recharge or purchase of groceries, to something as complex as running a business and earning money – can be done today using FinTech & payments mobile apps.