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“It is heartening to see the significant growth of the Payment Infrastructure Development Fund (PIDF) with nearly 57 lakh payment acceptance devices deployed, including 2.46 lakh physical payment acceptance devices, in tier-3 to tier-6 cities. This is a great achievement for the financial inclusion journey of India as it indicates that the traditionally underserved areas are now being brought into the fold of financial services – an essential element for the development of India’s rural economy. As a company, Spice Money has also been driving the financial and digital inclusion and empowerment mission. We have successfully deployed over 1 lakh micro-ATMs with the help of a strong network of our 8,00,000 Adhikaris (banking correspondents) covering 95% of the rural pin codes in India. We will continue to build our financial inclusion infrastructure to further reach the unaddressed corners of Bharat.”
– Dilip Modi, Founder, Spice Money on Reserve Bank of India’s statement about the installation of nearly 2.46 lakh physical payment acceptance devices in smaller towns under the Payments Infrastructure Development Fund.