Pay Point India Network Pvt. Ltd. Wins Best Business Correspondent Award at Global Fintech Fest 2024
The Global Fintech Fest 2024 concluded on August 30, 2024, celebrating notable advancements in the fintech sector. The three-day event, attended by Prime Minister Narendra Modi, government officials, regulators, and global industry leaders, highlighted the transformative impact of fintech companies on digitalizing the economy.
Among the key accolades presented, Pay Point India Network Pvt. Ltd. was recognized as the Best Business Correspondent by the Payment Council of India. This prestigious award underscores Pay Point India’s dedication to bridging the financial gap for underserved populations. The company has been pivotal in opening Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts for financially excluded individuals and facilitating the distribution of various social welfare schemes such as the Atal Pension Yojana, PM Jeevan Jyoti Bima Yojana, and PM Suraksha Bima Yojana.
“We are deeply honoured to receive this award from the Payment Council of India”, said Ketan Doshi, Managing Director of Pay Point India Network Pvt. Ltd. “This recognition is a testament to our team’s dedication to empowering underserved communities through accessible and inclusive financial services. We remain committed to advancing financial inclusion and supporting the government’s vision of a digitally empowered India”.
Each month, Pay Point India serves the banking and payment needs of over 10 million underprivileged individuals, reinforcing the national mission of financial inclusion. The company’s initiatives demonstrate the substantial impact of financial outreach on improving access to formal banking for millions who were previously excluded.
The Global Fintech Fest provided a dynamic platform for knowledge sharing, featuring cutting-edge technological innovations. The event solidified its place as a critical gathering for global fintech professionals. During a panel discussion on 'Business Correspondents for Digital and Phygital Lending', Ketan Doshi expressed gratitude for the industry’s collective efforts. “A big thank you to everyone who joined us for the insightful panel discussion. Together, we’re shaping the future of financial services in India”, he stated.
In his closing remarks, Prime Minister Narendra Modi highlighted the fintech industry’s essential role in driving the digitalization of finance. He called for continued innovation and emphasized the success of the PM Jan Dhan Yojana (PMJDY) in expanding financial inclusion, with over 530 million accounts opened under the scheme. The Prime Minister lauded the efforts of banks and Business Correspondents, such as Pay Point India, in making this achievement possible.
The event coincided with the 10th anniversary of PMJDY, marking a decade of progress in bringing financial services to all corners of the nation.
