Understanding the unique banking challenges of such a massive event, PayPoint India booths across key locations in Prayagraj, offer essential financial solutions, including secured cash withdrawals, deposits, money transfers, and digital transactions. By providing easy cash withdrawal facilities, PayPoint India enables pilgrims to carry less cash while travelling, enhancing their financial security.For MSMEs, PayPoint India’s booths are serving as a vital support system bridging the gap between traditional banking and last-mile financial access, allowing small traders todeposit their daily earnings directly and securely into their bank accounts.

Sharing insights,Ketan Doshi, Managing Director, PayPointIndiasaid,“Mahakumbh 2025 has been a remarkable opportunity for PayPoint India to extend financial services to millions of pilgrims and micro & small traders. While we were expecting more withdrawals, we saw more deposits, reflecting a growing confidence in digital banking and secure transactions.Around 35% transactions were cash depositsdone by small merchants. Driving financial inclusion, PayPoint India also empowered pilgrims with government-backed schemes andaround 500 people adopted the Social Security Schemes of the Central Governmentat the Mahakumbh. By ensuring financial security and convenience, we are proud to contribute to a more inclusive and digitally empowered India.”

Beyond transactional services, PayPoint India is actively driving financial inclusion at the Mahakumbh by helping individuals enroll under thePradhan Mantri Jan Dhan Yojana (PMJDY), ensuring they can access various government benefits.It is also providing financial protection through thePradhan Mantri Suraksha Bima Yojana (PMSBY)and Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), providing financial protection in times of need.Additionally, senior citizens are being empowered through theAtal Pension Yojana (APY),helping them achieve long-term financial independence.

TheMahakumbh 2025is not only a spiritual gathering but also asignificant economic driver, tradeassociations have estimated to generate business exceeding₹3 lakh crorethrough sales of goods and services by small traders. PayPoint India’s presence at the Mahakumbh has ensured that both pilgrims and traders could conduct secure transactions, access banking services, and benefit from financial inclusion initiatives. By bringing seamless banking solutions closer to communities, PayPoint India enhances financial access and fosters greater economic participation across India.

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The introduction of credit cards tailored for micro businesses is a game-changer, Easing access to formal credit and empowering small enterprises to scale operations efficiently. Additionally, doubling the DICGC cover for micro and small industries will significantly enhance credit availability, fostering both productivity and employment—critical for economic growth.

The simplification of KYC processes through the revamped central KYC registry is a welcome move that will make financial transactions, account openings, and other essential services more seamless for individuals and businesses alike.

Perhaps one of the most impactful reforms is the increase in the NIL income tax slab to ₹12 lakh. This major tax relief for the middle class will not only ease financial burdens but also provide a significant boost to consumption and savings, further driving economic momentum.

Ketan Doshi is the MD of PayPoint India Network Pvt Ltd, a leading Fintech company. Views expressed above are the author’s own.

Author: Ketan Doshi