Google’s Bharat Saves With Jan Dhan Yojana for financial planning
The Prime Minister Shree Narendra Modi’s initiative towards Digital India seems to be going ahead with time. After visiting several top techies and CEO of top most tech companies across the world, Modi has successfully managed to bring in the digitization in large sense in the country. Google, in a recent event disclosed the fact that they are planning to develop a new website namely Bharat saves which will be a financial planning hub for the Indians. People can learn and get ideas about financial decisions and saving ways in regular life.
Bharat Saves: The website
- Bharat Saves will be a website designed and developed by Google Inc. It will be a complete online financial planning hub for the users. The website will be linked with Jan Dhan Yojana accounts.
- Linking jan dhan yojana account will be helpful for the users to purchase financial plans and easily receive the dividends and other interests on investments. To use the website / App one needs to register them under Bharat Saves.
- There will an App along with the website that will be launched side by side for the users. The App at the first place will be available in Play Store. Users can log in from app or website to learn about the plans.
- The website Bharat Saves will not only help you to choose the best financial plans but also will teach one how to save money to earn more. There will be financial module tests available in the website and in the App. One can take them and receive the certificate from Google, Indian Government and Industry Experts.
Bharat Saves: The users
The App and the website are designed for the people who are not so good at making financial decisions. Such as beginners, retired people, new jobbers, and farmers and of course house makers. We all want to save money for future but a lot of people are not aware of the fact that investments play a major role in saving money. The website will play that role on behalf of them.
Bharat Saves: The Need
In recent past, according to IMF reports, the saving rate in India has dropped largely. As per the IMF reports, nearly 30% of the total GDP has dropped in last few years. That leads to fall in saving rate largely. It has been seen that the saving rate has recorded as less than the quarter of the total disposable income by a single consumer.
On the other the house makers’ saving rate has also dropped largely. This website will be launched to make them aware about various financial plans so that they can contribute major parts in saving and so in GDP.
Apple Pay in Bharat Saves
After Google, now Apple, another US based tech honcho, is eager to join the financial inclusion program along with Google. Apple will soon be launched Apple Pay, a wallet service through which one can make easy payments whenever they want to. It will be similar to Paytm wallet.
Bharat Saves – Points to be noted
|Bharat Saves||Common platform where industry experts and financial organisations meet the users|
|Platform||Website and App only|
|Purchase of plans||Yes|
|Tests process||Online basis|