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iServeU aims to create India's USD 5 trillion Rural Economy

ANI | Updated: Mar 11, 2020 17:08 IST

Mumbai (Maharashtra) [India], Mar 11 (ANI/NewsVoir): India's one of the fastest-growing fintech startup companies 'iServeU' is betting big to create India's USD 5 trillion economy of rural India by providing digital connectivity.
The company crossed iconic landmark to connect with 25,000 villages where they have been financially included using iServeU's technology on the day our Finance Ministers Nirmala Sitaraman tabled Union budget for FY 2020-21.
"Honourable finance minister Nirmala Sitharaman's this year's union budget is one of the finest budgets ever declared as it focuses on providing digital connectivity to 1 lakh villages. It is our endeavour to work hard and take our technology to tap those villages of rural India in order to provide banking services," said Debiprasad Sarangi, CEO of iServeU.

Recently, the company have enabled banking facility at Bishra village in West Bengal, where villagers are now able to withdraw money using their debit card or thumb impression and can transfer funds to their near and dear ones just using a mobile number.
The power of technology and government's initiative like Aadhaar Enabled Payment System where any village level micro-entrepreneur can now provide banking services to their own communities just by their mobile phone with almost zero investment. "iServeU is a leading provider in the FinTech space has on-boarded 90,000 such micro-entrepreneurs on its platform, said Sarangi.
Amit Tyagi, CFO of iServeU said: "Each retailer is able to earn at an average about 15,000 per month on our platform while serving the local communities as well." Adding that "Not only normal banking services like withdrawal and deposits, iServeU in partnership with leading banks like RBL Bank, Yes Bank, IndusInd Bank, Kotak Mahindra Bank and Fino Payments Bank is able to provide a plethora of other financial services to the customers like life and health insurance, micro credits etc."
Recently, the Odisha headquartered technology-driven and service motivated company-iServeU have developed some of the most cutting edge tools enabling financial transactions of the bottom of pyramid population like fraud prevention and smart cash management. The company is also hiring 2 lakhs agents for the same in FY' 20-21, added Sarangi.
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