September 25, 2022

With the Covid-19 induced lockdown, the urge for food for digital choices has risen exponentially throughout industries in 2020. The agricultural economic system has proven each resilience and development throughout this time.

One of many new areas fintechs have began specializing in this yr has been to deal with the wants of the agricultural and underserved section. Challenges in rural India want customised options and the usual merchandise or options of city India can’t be utilized to the area of interest wants of this section.

This yr Spice Cash contributed considerably to allow the 32 crore beneficiaries of the federal government’s Garib Kalyan Yojna to get entry to their funds in a matter of hours. We created a right away and alternate platform for migrant employees to kick begin their livelihood from their villages.

Because of this Spice Cash truly grew greater than 100% within the peak 6 month pandemic hit interval. As PM Modi launches the Kisan Samman Nidhi on December 25, we’re completely poised to help our clients to get their funds within the quickest and most safe method potential by way of our sturdy platform.

In 2021 and past, our mission is to digitally and financially empower over one crore rural entrepreneurs. We can help and allow entrepreneurship in rural India by way of our bouquet of merchandise and be the most important rural fintech in India.

India’s semi city and rural markets are steadily transferring from a money to a cashless mannequin. There’s an rising demand for digital choices from India’s distant corners. Within the coming yr, we are going to see product innovation from fintechs, in addition to adoption of those digital merchandise go hand in hand at an unprecedented tempo.

The writer is Founder, Spice Cash. Views are private.

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