An agreement has been entered between HSBC  and Sa-Dhan which is a micro finance industry association for developing digital ecosystem for India’s unbanked sector.

P Satish, executive director at Sa-Dhan has said in a statement that,” To digitize the microfinance ecosystem and render it cashless,the pilot with HSBC will provide us a path to empower MFI clients.”

Around 1200 consumers will be benefitted by the pilot run by HSBC in West Bengal,Punjab, Karnataka and Maharashtra. It will develop digital hubs  with POS machines and internet connectivity.

Read EquityPandit’s Technical Analysis on Nifty IT