Collekto anticipates further capital infusion and strategic technological upgradation initiatives
FinTech BizNews Service
Mumbai, January 29, 2024: Collekto is India's fintech that is leveraging technology and data insights to drive last mile conversions, resulting into optimised collection performance for financial institutions. Gurjot Singh, Co-founder, Collekto, shares his budget expectation:
“As the Indian budget approaches, fintech companies are buzzing with anticipation. We envision a transformative Union Budget 2024 that can facilitate a symbiotic growth of the banking, MSME, and fintech sectors. A robust and resilient banking sector is the bedrock for a thriving MSME and fintech ecosystem. In alignment with this vision, we anticipate targeted budgetary measures to enhance the sector's efficiency and resilience. These include further capital infusion and strategic technological upgradation initiatives. We further expect enhanced cooperation between fintechs and banks, resulting in hybrid models that capitalise on their respective advantages.
Further, India's unique digital public infrastructure has significantly contributed to the expansion of the fintech sector. Therefore, we express optimism that the forthcoming budget will place greater emphasis on bolstering digital financial infrastructure in an effort to foster the expansion of financial technology as well as enhance financial inclusion. The results of that are already visible. We expect Govt and RBI to continue to boost the fintech ecosystem but at the same time maintain a certain balance so as to avoid any future catastrophe.
I would expect the government to give some tax breaks to fintechs similar to Startup India movement.”
