Views on Digital Payments rising 11.11% Y-o-Y in September 2024 by Mr. Dilip Modi, Founder & CEO of Spice Money
Below the Views on Digital payments rising 11.11% Y-o-Y in September 2024 by Mr. Dilip Modi, Founder & CEO of Spice Money
"The increase in digital payments, with an 11.1% year-on-year rise as of September 2024 as per RBI’s Digital Payments Index, is a testament to India’s accelerating digital financial ecosystem. This growth is particularly significant for rural India, where digital transactions are playing a pivotal role in driving financial inclusion. At Spice Money, we believe that the true potential of India’s digital payments revolution lies in empowering the underserved, ensuring that digital financial services reach every last-mile citizen.
With over 65% of India’s population residing in rural areas, access to seamless and affordable digital banking solutions is crucial for fostering economic growth. The rise in digital transactions signals a behavioral shift, demonstrating growing trust in digital financial services. However, for this momentum to sustain, continuous innovation in financial infrastructure, last-mile connectivity, and digital literacy initiatives is essential.
As a leading rural fintech player, Spice Money remains committed to enabling financial empowerment at the grassroots level. By leveraging our extensive network of 1.4 Million Adhikaris, we aim to bridge the digital divide and bring essential banking services closer to the underserved. This milestone in digital payments is not just about numbers - it represents progress toward a more financially inclusive Bharat.”
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