Tax reformsApart from microfinance institutions (MFI), fintechs have played a major role in financial inclusion in the interior parts of India. Dilip Modi, founder of Spice Money, a lending fintech, said: “The digital payments space has proved its mettle as a stable growth avenue during the pandemic. If tax reforms are put in place, major fintechs can focus on funding and innovation, among other things, Negi said. Bank partnershipsPartnerships with banks play a pivotal role for fintechs as they get access to a broader market. It helps in making banking services digital and user-friendly.”Some experts say the Budget is an opportunity for banks and fintechs to focus on Priority Sector Lending to expand financial inclusion.

Source: Forbes January 20, 2023 15:28 UTC