Pre-Budget Expectation Quote|Mr. Satyam Kumar – the CEO & Co-Founder, LoanTap and Co-Founder at FACE

Pre-Budget Expectation Quote|Mr. Satyam Kumar – the CEO & Co-Founder, LoanTap and Co-Founder at FACE

The upcoming Union Budget is expected to focus on India’s economic growth and strengthening the digital infrastructure. We may look at measures to encourage investments in the financial sector and improved access to credit for MSMEs, start-ups and other small businesses. The Government of India has taken several steps in the past few years to improve credit accessibility such as launching credit guarantee schemes and extending access to financial services through digital platforms, which have enabled many people across the country to avail of banking services. This budget could further incentivize banks and NBFCs (Non-Banking Financial Companies) to focus on providing loans to underserved customers, as well as extend priority sector lending. Additionally, with the initiatives like the launch of the e-Rupee, ONDC, the onboarding of public sector banks in the Account Aggregator framework etc., there is an expectation that the government will push for digital infrastructure development which would help boost financial inclusion across rural areas in India. – Mr. Satyam Kumar – the CEO & Co-Founder, LoanTap and Co-Founder at FACE

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