Everyone is aware that the Central Government in association with the State Governments is taking several measures to ensure digitisation across the country. Moving a step the Centre rolled out the demonetisation drive and post that the target is to transform India into a cashless society. The financial sector, in particular, has a very important role to play in this regard.Jan Dhan, Aadhar, Mobile (JAM) is acting as a major tool in securing this digital implementation.
NBFCs too specifically have a significant role in incorporating the digitisation of financial services and several new players like payments banks, small finance banks etc are ensuring the same. But there is still a long way to go as far as complete digitisation is concerned. There is a need to ensure the infrastructure in place and design the applications to promote all digital payments.
NBFC100 Tech Summit 2017 – Inaugural Session – Non-Banking Financial Companies: Rising Significance in Providing Niche Banking and The Road Ahead – Sumnesh Joshi, Additional Director General, UIDAI, Government of India
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