A government-backed fintech skilling programme would also be a game-changer for the industry
By AMIT NIGAM
COO, BANKIT
The upcoming Union Budget 2025 presents an opportunity to strengthen financial inclusion across the country by addressing key challenges.
As an industry, we collectively anticipate much-needed GST relaxation on Business Correspondent (BC) services.
This adjustment would significantly alleviate operational burdens, enabling wider outreach of banking and financial services, particularly in underserved and unbanked regions, and supporting the nation’s vision of inclusive growth.
Additionally, there should be a reduction of TDS on BC merchant accounts while making transactions to ensure better cash flow and operational efficiency for BC agents.
A government-backed fintech skilling programme would also be a game-changer for the industry, fostering innovation, nurturing talent, and driving responsible and inclusive growth.
The industry looks forward to a visionary budget that prioritizes these measures and lays the groundwork for a stronger, more equitable financial ecosystem.
