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Financial Inclusion: How Spice Money is creating financial awareness and generating employment in rural India

Financial Inclusion: How Spice Money is creating financial awareness and generating employment in rural India Founded in 2015 by Dilip Modi, Spice Money, endorsed by actor-philanthropist Sonu Sood, provides financial services in semi-urban and rural India, thereby enabling employment by hiring local representatives. 0 claps Share on Rammohan Pal, a resident of Durg district in Chattisgarh, can recall June 9, 2019, very vividly; it was when his mother, who at the time lived in another rural district in Uttar Pradesh, had fallen gravely ill and needed immediate hospitalisation. However, the hospital refused to admit her until a Rs 20,000 deposit was put down a common occurrence in villages and small towns. Rammohan, who up until that point had used only physical cash, found himself in a quagmire; travelling to his mother would take at least a day, which due to her rapidly deteriorating health was a huge risk. The local

budget 2021: Budget 2021: RBI support could cut cost for deploying payment terminals in rural India

MUMBAI: The central bank’s newly established corpus of Rs 345 crore for developing payment infrastructure in rural India could ease the unit economics for key stakeholders to deploy terminals in the absence of Merchant Discount Rate (MDR). However, key stakeholders – the banks and payment companies would continue to demand the resumption of transaction charges albeit a discounted one, on UPI and RuPay, in the upcoming union budget. The Reserve Bank of India (RBI) on Tuesday announced the operationalization of the Payment Investment Development Fund (PIDF) with an initial corpus of Rs 345 crore for three years – extendable up to an additional two more years.

Over 50% Of Indians Opted For Online Mobile Recharges In 2020 Due To Covid-19 Pandemic

Over 50% Of Indians Opted For Online Mobile Recharges In 2020 Due To Covid-19 Pandemic
moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.

Over 50% of Indians now recharge phones online

Over 50% of Indians now recharge phones online SECTIONS Share Synopsis At Reliance Jio, the share of online recharges increased to 50% in the December quarter from 35% in the March quarter, after having touched 60% during the lockdown in the June-ended quarter, according to a senior company executive. Getty Images At Bharti Airtel, half of its recharge revenue for all of 2020 came from the digital channel for the first time, a company official said. NEW DELHI: The share of digital mobile phone recharges in India crossed 50% for the first time in 2020 as the pandemic led people to minimise stepping out to stores and instead opt for online transactions, a trend that experts said may continue.

Sonu Sood: Sonu Sood partners with Spice Money to empower one crore rural entrepreneurs

Sonu Sood: Sonu Sood partners with Spice Money to empower one crore rural entrepreneurs
indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.

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