Union Budget 2023 Should Focus on Strengthening Digital Lending Infrastructure: Ram Kewalramani, MD of CredAble

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As the Union Finance Minister Nirmala Sitharaman, is all set to present the Indian Budget for 2023-24, we reached out to Ram Kewalramani, MD & Co-founder at CredAble to understand what the Fintech and NBFC sector are expecting from the upcoming budget.

In his comments about the Union Budget 2023-24, Ram Kewalramani, MD & Co-founder at CredAble said, “We expect Budget 2023 to further strengthen India’s financing ecosystem and push our booming FinTech sector towards an affluent future. Flexible corporate laws will be an added boon for the sector.”

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“FinTechs and NBFCs who are working to bridge the gap and improve access to financial products among the unbanked populations must be supported with tax incentives to achieve their goal of building a sound, inclusive financial system in the country,” He said.

“We hope to see more policies that will ease the financial burden on the FinTech sector. This includes risk mitigation measures to the FLDG models for FinTechs as well as government interventions to infuse more capital into the sector,” Kewalramani continued.

Further adding to his budget expectations, he said, “Digital technologies that streamline processes and strengthen efficiencies will play a significant role in the lending sector. Union Budget 2023 should also look at having policies to strengthen the digital lending infrastructure and provide a seamless linkage for Indian FinTech companies to global financial ecosystems.”

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Krishna Mali
Krishna Mali
Founder & Group Editor of TechGraph.

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