AGS Transact Technologies-Post Budget Comment - RAVI B. GOYAL

Post Budget Comments Attributed To: Ravi B Goyal, Chairman & Managing Director, AGS Transact Technologies Limited

“As India’s leading end-to-end payment solutions provider, we appreciate the government’s agenda to push ‘ease of living’ since it will simplify lives through Technological Innovation thereby spurring automation.

With the government recognizing the immense potential of MSMEs and trying to nurture a financial ecosystem for them to grow, Fintech companies will play a critical role in financing space for MSMEs. Online loan approvals for MSMEs will enable higher MSME financing and reduce the cash crunch faced bythem.

As anticipated, digitisation is the foremost agenda this year as well. With the allocation to Digital India scheme being doubled up to Rs 3073 crore, financial inclusion will receive the much needed impetus. The announcement to allocate Rs 10,000 crore for creating of 5 lakh WiFi HotSpots to provide broadband access to 5 crore rural citizens will ensure Digital India initiative penetrates deeper into the remote areas. Overall, these initiatives will definitely enable the booming FinTech and Banking Payments Services industry to further enhance this growth.

Additionally, the Government’s plans to come out with a policy to introduce toll system on ‘‘pay as you use’’ basis along with the system of cash toll payments being replaced with Fastags and other electronic payment systems will make road travel experience effective and seamless.”

01st January, 2018