How budgeting apps can enhance your financial management

FinTech has enabled seamless access to financial services and simplified transactions for millions of Indians. An increasing proportion of payments are now made on the move. With digital accounting for a growing share of financial transactions, wallets are fast becoming a thing of the past, particularly among the Millennials and Gen Z. Digital payments skyrocketed from around 2,000 crore transactions in FY17-18 to almost 9,000 crore transactions in FY21-22, with the value growing from ₹1,962 lakh crores to ₹3,021 lakh crores in the same timeframe, according to data released by the Ministry of Electronics & IT.

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