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Only hitch is 2% hike in service tax: Obopay

BS Reporter  |  Mumbai 

It is encouraging to see that the is focused heavily on rural development. Clearly, financial inclusion is top priority for the government. The Finance Minister's proposal to complete Aadhar in 50 districts over the next six  months will lead to availability of financial services to more people.

Penetration of banks and financial services in rural India presents larger scope for mobile banking and payment service providers. We believe this is a positive sign for Obopay as the will only encourage the adoption of mobile banking technologies.

The only road block that I see is the 2% increase in  service tax. It will lead to higher tax attached to  mobile phone bills and mobile transactions thereby affecting the usage of mobile services.

Overall the is growth-oriented with a huge impetus on rural areas and people residing therein.

--Deepak Chandnani, CEO, Obopay


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First Published: Fri, March 16 2012. 17:26 IST