HomeBudget 2022"Govt should introduce long-term stimulus in the upcoming budget to ensure cash flow in BFSI sector,...

“Govt should introduce long-term stimulus in the upcoming budget to ensure cash flow in BFSI sector,” Says Lalit Mehta of Decimal Technologies

Reader's Pick

Speaking on the expectations with Budget 2021, Decimal Technologies, Co-founder, Lalit Mehta said, “The lockdown brought with it an economic downturn for enterprises of all sizes, which urged the government to offer Loan Moratorium to borrowers amidst liquidity crunch. While this helped kick-start the economy, the government must introduce a long-term stimulus in its upcoming budget to ensure cash-flow for the BFSI industry.” 

“In the post-COVID19 economy, credit is going to be the enabler of businesses, we expect the government to introduce credit schemes that will provide a fillip to the sector. Schemes that would ensure continuous availability of credit as and when needed will provide a great boost, especially to the lending industry. During the lockdown, borrowing, for both commercial and personal purposes, increased, facilitated by FinTech players. We expect the government to announce necessary regulatory changes that would create an easy line of access for FinTech players to secure credit from conservative banks and further disburse loans to borrowers,” Lalit said.

“Covid-19 catapulted India into a digital economy and the FinTech start-up ecosystem witnessed some high-value investments in 2020.  While the PM has already announced a Rs 1,000 cr Startup India seed fund, the FinTech start-ups can further benefit from the launch of a fund focused on equity capital requirements of start-ups in the lending space. This will help give steam to India’s $ 5-trillion GDP target by 2024 and fill the $380-billion MSME credit gap,” he added.

Subscribe to our Newsletters

We don’t spam! Read our privacy policy for more info.

- Advertisement -

Read latest Business News and Startup news on TechGraph. Watch live and latest news on TechGraph TV. Follow us on Facebook or follow us on Twitter and Instagram. Listen audio news from TechGraph Briefings on Spotify, Google Podcast, Amazon Music & on Apple Podcast.
 

Krishna Mali
Krishna Mali
Founder & Editor of TechGraph.

Latest News

Promoted Links

Related Stories

Paytm Payouts transfers Rs 1,500 crores

India-based e-wallet company, PayTM said, "Its Paytm Payouts has transferred ov...

Japan approves 26 trillion yen as economic stimulus package to combat overseas risks

Japan's cabinet approved an economic stimulus package worth 26 trillion yen ($2...

Sino-US trade war offers Europe’s chance to bank more Chinese reserves: Analysis

Should European countries want the euro to replace the dollar as the world's do...

Samsung Electronics asks its shareholders to use electronic voting for upcoming AGM

Technology giant Samsung Electronics has adopted electronic voting for the firs...

Rahul Gandhi hits on RCEP says, ‘Make in India’ has become ‘Buy from China’

Asserting that "Make in India" has become "Buy from China," Congress leader Rah...

Employees union seeks FIR against Jet Airways boss Naresh Goyal, Vinay Dube and on SBI Chairman

The employee union of Jet Airways, which is facing its worst crisis, Friday sou...

Rajesh Bysani joins Brainly as its new CPO

A New York headquarter peer-to-peer learning platform, Brainly has announced th...
00:01:02

Protesters sing Bella Ciao song during Italian PM Giorgia Meloni’s speech

Some protesters greeted Italian Prime Minister Giorgia Meloni with the anti-fas...
00:03:03

Silicon Valley Bank Closure Highlights Why Startups Need To Diversify Their Liquidity: Karan Desai of Interface Ventures

Karan Desai, Founder of Interface Ventures said, "The collapse of Silicon Valle...

HDFC Life Strengthens Retirement Portfolio with ‘HDFC Life Smart Pension Plus’

HDFC Life, one of India's leading life insurers, has launched HDFC Life Sma...