Union Budget 2017 - Sameer Segal, Founder and CEO - Artoo

"The Government has employed the right measures to ensure easy adoption of digital transactions across the country. The problem of adoption begins with merchants, and the decision to incentivize digital payments for them with cash-backs, will help in pushing the digital ecosystem forward.

The focus on rural and semi-urban areas through post office, banking correspondents, Aadhar Pay for those without mobile phones, is another critical step to enabling and stabilizing the ecosystem, and will help improve access and trust in the nascent payments infrastructure in the country.

Additionally, the reduction in corporate tax will help mature and bootstrapped startups in scaling their business on a solid foundation.

That said, MSMEs have witnessed relative neglect in the 2017 Union Budget. Post demonetization, the necessary boost that the MSME segment required in terms of employment and kick-starting supply chains has not been addressed."

Artoo is a financial technology company that specializes in digitalizing the SME lending space in India. Artoo helps its customers, like Ujjivan Financial Services and RBL Bank-Swadhaar, disburse loans worth Rs.100 Crore every month. It has assessed 3 Lakh small businesses on its platform last year. It has helped its customers increase their productivity by 500 percent, reduce the cost of acquiring customers by 45 percent and the turnaround time for loan approvals by 40 percent.

Source : Equity Bulls

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