Wednesday, October 14, 2020

[MFP] Digital financial transaction by poor

 

Dear Members,

I am trying to better understand the practice of digital financial transaction by poor in India and wanted to have an opinion from practitioners/experts here on "what could be the best proxy for digital financial transaction by poor in India".

While the APBS credit transfer has been a very efficient mode of transferring money exclusively (or mostly) to low income groups in India, I don't seem to find similar measure when it comes to digital financial transaction by this segment of population.

While AEPS is part digital, it still involves cashing in/out. On the other hand, usage of UPI/BBPS/Rupay card or of IMPS/NEFT is very limited, when it comes to this segment of population.

I wanted to explore on the subject on what could be done to enhance the usage of digital financial transaction by low income group people, especially in rural/semi-urban areas of India.

I look forward to hearing from the practitioners and experts of the group.

Best regards

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Posted by: "Kamakhya Nr. Singh" <kamy2n@yahoo.com>
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