Paperless Financial Transactions–An Opp Largely Ignored By The Startup Community

According to reports, paperless transactions during the past financial year amounted to INR 92 lakh crore as against paper-based transactions worth INR 85 lakh crore. For a country like India, struggling with issues such as financial inclusion, black money and lack of infrastructure (internet connectivity in rural areas), this news is a welcome surprise and demands to be celebrated. But it went largely unnoticed.

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Growth in paperless transaction is in line with the government’s and the RBI’s agenda of creating a cashless society, with monetary transactions through the internet, ATM, cards and mobile devices.

Why Is Increase In Paperless Transactions Cause For Celebration? 

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