Demonetization will lead to wider spread of technology apps for mass: PHD Chamber

“With introducing demonetization, Prime Minister Modi is emphasizing Indians to adopt technology and the products created by it particularly in India’s rural landscape for financial inclusion and banking transactions, fruits of which would be imminent shortly” was the crux drawn out of a Seminar on Fin Tech Startups – Time to Unleash Potential under aegis of PHD Chamber of Commerce and Industry here today.

 The Seminar objectively concluded that demonetization has also provided a unique opportunity for fin tech startups to unleash their potential to connect with rural India for financial inclusion as well as smother banking transactions.

Thirdly, it held that demonetization would amount to a major push without any fiscal incentives from the government for fin tech to sell off their products and apps to recalcitrant and disobedient user of technology with little training to rural folks to go digital with enthusiasm and happiness.

The aforesaid view were aired here at fin tech startups seminar by panel of experts such as Mr. Bipin Kaul, Zonal Head (North & Gujarat)-Business Banking, IDFC Bank and Mr. Paritosh Sharma, Head (Digital Vertical) hero Mind Mine as also Chairman Innovation Committee, PHD Chamber, Mr. Deepak Pahwa; Mr. V K Mishra, Angel Investor, Director, Lakshmi Energy and Food Ltd.

Economic Advisor, Ministry of Health and Family Welfare, Mr. Arun Kumar Jha and Dr. Jatinder Singh, Sr. Secretary, PHD Chamber were also among those who endorsed the views of the other speakers.

The Seminar concluded with a positive note that with a slight twist in our mindset can bring about a revolution for adoption of evolving technologies to apply their use in our day-to-day transactions on many front.  It was also felt that the government needs to incentivise the fin tech startups, what it ought to do invest human resource on vigorous training to impart the knowledge to adopt and use technology.