• Dilip Modi, Founder at Spice Money


• 20.06.2022 09:45 am
#payments

The apex bank of India today announced a blueprint for the regulation of payment systems under Vision 2025. Earlier, vision 2021 had envisaged a new era of digital transactions, to provide Indians with e-payments options that were fast, secure, efficient, and affordable. While the pandemic raged across the country, India was on a path to realising this vision, and digital payments grew phenomenally in volume and popularity, with a constant thrust from the government, and the rise of rural fintechs.

At Spice Money, as we continue to build upon our Open Network for Assisted Digital Distribution, revolutionising the way Bharat banks, it is heartening to note that the RBI take measures that will further enhance safety and security for rural citizens, where digital and financial literacy continues to be core challenges. In acknowledgement of the role that rural fintechs have played in bridging the rural-urban divide,  it has announced the formulation of a discussion paper on appropriate regulations. I welcome Vision 2025, and I believe this will foster a spirit of transparency and trust, and only encourage our one million-strong, ever-growing network of Spice Money Adhikaris to dedicate themselves to bringing essential services across finance and beyond, to the doorsteps of their communities, connecting the last miles of the country.