In recent years, India has witnessed a digital revolution, reshaping the very fabric of its banking industry and extending financial services and inclusivity to unprecedented levels Opinions expressed by Entrepreneur contributors are their own. You’re reading Entrepreneur India, an international franchise of Entrepreneur Media. For the longest time our banking systems did not cater to the entire population, banks largely catered to the urban middle class. Bank branches did not extend much beyond cities, in spite of RBI’s efforts towards financial inclusion. The cost of branch based banking services was high and was only feasible to extend services to the urban middle class, which had sizable deposits in their bank accounts. In recent years, India has witnessed a digital revolution, reshaping the very fabric of its banking industry and extending financial services and inclusivity to unprecedented levels. THE BOOM OF INTERNET DATA A pivotal moment in this transformation was the penetration of mobile phones intertwined with affordable internet access. As smartphone penetration increased, internet data rates plummeted with economies of scale, making online services accessible to a broader audience, laying the groundwork for an unparalleled digital boom. Between 2014 and 2022, smartphone penetration surged from 15% to 66% of […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
