If A New Pandemic Hits, Are You Ready To Face It?
A new way to help you create healthy financial habits and reduce financial stress.
Bangalore and Singapore Nov. 04, 2020. FMS International.
With the pandemic knocking on the doors, a swift and massive shock of the COVID-19 and shutdown measures to contain it have plunged the global economy into a severe contraction. Like many other countries, India, the nation of 1.3 billion, was not ready to face this pandemic to fortify their everyday life.
This made it clear that people should prepare themselves for darker days like this COVID-19 pandemic to support them financially by saving a dollar a day and create financial stability to face the unknown. Now the pandemic, which has made people wary of close personal interactions, is giving online payments a fresh boost. So, the grandmother who never had any clue about digital payment is now paying for her groceries online.
“There is a sudden pitfall in the savings-driven economical approach in India. On the other hand, Covid-19 caused huge financial stress on the minds of the masses. There are small steps that can help people feel more confident about their finances — from daily transactions to secure wealth management, or to put simply saving a dollar a day.” Indranil Sinha, the President of NeoBenk, said to FMS International.
Cash isn’t king anymore. A less-cash society would be a fairer and safer place, and COVID-19 has proved it to be true. I am advocating a cashless society, which will be both feasible and desirable soon. We at NeoBenk focus on achieving mass adoption of digital currencies in India to help to benefit from equality of opportunity and integrate them in their everyday lives without getting afraid of losing their hard earned money.”
Recent news shows that big players are starting to set their foot in the Indian market since the Supreme Court removed the ban on banks servicing digital currency exchanges in March 2020. With the world’s largest digital asset exchange, Binance has acquired WazirX. NeoBenk, the multinational financial institution, announced their official launch on 20th November 2020.
Even PayPal announced that it will start allowing cryptocurrency payments in 2021. India’s digital assets space continues to see rapid development. Overall, the Indian crypto industry has seen enormous growth both in volumes and new clients.
As NeoBenk launches digital banking services in India, the digital assets industry continues to grow despite uncertain regulations.
On this matter, NeoBenk stated, “Despite the uncertainty in the digital assets industry, we improvise on innovation first, then the regulation follows. At NeoBenk, we take licensing and compliance very seriously as we believe that asking for permission, rather than forgiveness, is a much better and safer approach — and we think our customers will acknowledge this effort.”
What do you think of NeoBenk’s banking solutions for digital assets holders in India? Let us know through an email at feedback@thefms.com.
About FMS International
FMS is the Financial Management & Marketing Services Corporation on a mission to create trusted relationships between people, brands, and governments. For more information, visit thefms.com.
About NeoBenk
NeoBenk, a technology-driven financial services company founded on Swiss and Hong Kong financial heritage operating globally — offers various products, including high interest-bearing personal accounts, business accounts, Line of credit, peer-to-peer payments, crypto trading, and more. NeoBenk is the easiest place; whether you move it, save it, send it, receive it or spend it, NeoBenk is here to get your money where you want it, when you need it, 24–7.
For more information and updates, visit neobenk.com or follow NeoBenk on Twitter, Facebook, and Medium.
About NeoBenk Partners
NeoBenk Partners is a subsidiary of NeoBenk, operating as an independent entity responsible for making the NeoBenk mission a reality to enable a full range of financial solutions and infrastructure that empowers millions of people.
About NeoBenk Ventures
NeoBenk Ventures is a venture capital fund and a subsidiary of NeoBenk and invests in currency exchanges, money service businesses, and payment and remittance solutions.
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