OTHER GROUP COMPANIES
market

Shams Tabrej, Financial Expert and Founder, Ezeepay

In rural India too, digital payments have picked up as people have started adopting digital money and making transactions online. To take banking to rural doorsteps the fintech start-ups have set up Micro ATM’S, Door to Door Banking services, touchpoints that enable the digital transaction.

December 31, 2021 8:32 IST | India Infoline News Service
In an interaction with Mamta Maity, indiainfoline.com, Mr. Shams Tabrej, Financial Expert and Founder Ezeepay said to know your retirement plans, it is better to understand the age you want to retire at, the amount you want to save for yourself, and what budget you are going to keep aside till then.” 

How can digital payments be promoted in rural areas?

Our government has been trying hard and for a long time to enter the world of a cashless economy and completely adopt digital payments as a universally accepted mode of transaction across pan India with a special focus on rural areas too. Unfortunately, the pandemic had put a halt to it but the pandemic has proved to be the silver lining for the digital financial sector as digital transactions paced up during the pandemic.

In rural India too, digital payments have picked up as people have started adopting digital money and making transactions online. To take banking to rural doorsteps the fintech start-ups have set up Micro ATM’S, Door to Door Banking services, touchpoints that enable the digital transaction. One of the unique features of digital payments has been their ability to access the areas that even banks could not access.

Why fintech is installing micro-ATM entrances to cater to their financial services in India?

There is a huge demand for Micro ATM in rural India as there are single Gramin banks in a village. Micro ATM is a small POS type machine that allows the customers to carry out all the financial transactions like cash deposit, withdrawal, fund transfer. Micro ATMs are a mini version of traditional ATM machines, which have been modified terminals which GPRS connections for performing bank transactions. Micro ATMs have a facility of card swipe facility and fingerprint scanner. Micro ATMs are the step forward for the banking services in India.

What are the top cornerstone for your retirement portfolio?

To know your retirement plans, it is better to understand the age you want to retire at, the amount you want to save for yourself, and what budget you are going to keep aside till then. When we talk about budget allocation, it is the most important part of your retirement planning. Sit with a finance expert and understand your needs for retirement. That is how you would come to know what amount to allocate for the retirement fund.

Checklist for managing risk to complete the financial goal?

No matter where you live and what you do, to plan your finances, you need to have it all covered. There are a few important things that come first. For investing into a financial plan look for these 5: a long-term investment plan, a risk management plan, a retirement strategy, a tax reduction strategy, and an estate plan. If you have these covered, you have everything else under control.

How Fixed Deposits can help you for your retirement?

Fixed deposits are considered to be a very helpful aspect of retirement plans. They are the lowest at risks, they have good returns, and long-term financial plans like FDs, help you save taxes. Also, to have an in-depth look, Fixed deposits are the easiest way to apply for loans, you can manage your daily and long-term expenses with them, and you can easily see where your money is.

Benefits of high yielding saving account

If you are looking for a good interest rate, then high-yield savings accounts help you with that. Nowadays, with the internet, it has become easier to find which one to choose and where to keep your money. You can easily look for a bank, open an online account and get it started in a minimal amount.

OPEN A DEMAT ACCOUNT & Get
FREE Benefits Worth 5,000

FEATURED ARTICLE

BLOGS

Open Demat Account

  • 0

    Per Order for ETF & Mutual Funds Brokerage

  • 20

    Per Order for Delivery, Intraday, F&O, Currency & Commodity