Quote on behalf of Tanul Mishra, CEO, Afthonia Lab: “It is encouraging to see the progressive thinking shown during the budget announcement for 2022. The introduction of the digital rupee using blockchain is a move in the right direction for ensuring financial inclusion, encouraging transparency, and enabling ease of trade. Even the announcement to set up 75 digital banking units is a step forward in this effort to bring all of India into the digital finance fold.
From the fintech industry standpoint this is certain to drive more innovation and add a fillip to the already burgeoning partnerships between legacy financial institutions and new age fintech innovators.
Both these initiatives are a great harbinger of the times to come for us as an industry and as a nation that is working on the vision of a digital future.
Additionally, the announcements extending the existing tax benefits for startups by 1 more year is likely to help concept stage and early-stage startups ease up on the pressure to deliver results and instead focus on refining their product/service to find the perfect market fit.”
Quote on behalf of Saumya Shah, CEO, Tarrakki: “The announcement around the digital rupee and the digital banks in 75 districts is certainly good news for the fintech industry at large and encouraging for innovators like us. We at Tarrakki are geared to drive digital infrastructure within traditional financial industry frameworks to encourage investments and drive a culture of creating wealth. This is certainly in line with the FM’s budget 2022 promise of being inclusive and futuristic. It would have been especially heartening to see a more pronounced view on the encouragement of investments for individual and non-individual investors as the Indian economy gears up for a steep growth phase, however, we are confident that the flurry of digital transaction activity and the rebates offered are likely to create a more positive environment for wealth creation and financial inclusion!”
