New Delhi, June 30: To make India a less-cash society, the government should put more emphasis on financial literacy, push towards creating technology-led infrastructure and additional distribution channels in rural areas for last mile access, said Hitachi Payment Services Managing Director, Rustom Irani.
“Notwithstanding the effort to make India a less-cash society, cash still holds prominence in all our day to day payments. In order to build a less-cash society, the government should build a mechanism where everyone in the country is empowered with regulatory, social, commercial and infrastructure framework that will help in last mile access to financial and other primary services. The idea to create 1 lakh digital villages in the next 5 years in the interim budget was one step towards creating such a framework," he added further.
"From past few years, the Ministry of Finance and the RBI has been creating an enabling environment for the payment sector. We are optimistic that in this budget Govt will provide tax relaxations for fintech companies and payments players which will led us to increase penetration and provide better customer service through constant innovation," said Euronet Services India Asia Pacific Regional Managing Director Himanshu Pujara.The Narendra Modi-led government is all set to present its maiden budget of its second term in office on July 5 (UNI)