Fintech agency Spice Cash has introduced its partnership with Religare Broking to offer individuals in rural India entry to platforms to spend money on capital market.
“The partnership between Religare Broking and Spice Cash will facilitate rural India to get assisted entry to a demat account and spend money on capital market-linked merchandise,” the press launch said. It additional added that Spice Cash has a community of over 10 lakh retailers providing providers to over 10 crore households in 700+ districts throughout the hinterlands of India.
To start out with, Spice Cash’s representatives will help rural residents to open a demat account and apply for Life Insurance coverage Corp of India’s preliminary public provide (IPO) and spend money on different merchandise sooner or later.
Sanjeev Kumar, co-founder & CEO, Spice Cash mentioned, “A majority of rural households have little to no monetary literacy and most want to park their cash in financial institution deposits and subsequently, they must accept low-interest charges, whereas there stays a large alternative to develop their wealth by making sensible investments in capital markets. Seizing these alternatives is not going to solely assist in monetary development of rural residents, but additionally assist the revitalisation of the agricultural financial system. It’ll play a key position within the nation’s aim of turning into a $5-trillion financial system and create an Atmanirbhar Bharat. This partnership shares mutual synergy of constructing individuals financially unbiased. Furthering digital and technological innovation, Spice Cash goals to be a one cease platform for all rural monetary wants.”
Gurpreet Sidana, COO, Religare Broking mentioned, “Persevering with our promise to supply simplified funding journeys & modern providers, this time we’re constructing a big scale phygital DIY facility with Spice Cash for opening Sabse Sasta Demat Account.”
Supply: Live Mint