The Assam Budget 2025 has set the tone for a new phase of digital empowerment in the state, with a strong focus on rural inclusion. Among its key announcements are the distribution of free smartphones to women associated with self-help groups (SHGs), the rollout of subsidized data packs to promote mobile banking, and a massive expansion of high-speed internet access under BharatNet Phase 2.
Backed by fresh Cabinet approvals, BharatNet 2.0 is now connecting some of Assam’s most remote gram panchayats to broadband infrastructure, unlocking new markets for fintech startups and e-commerce logistics providers that had previously struggled to reach these regions.
Simultaneously, fintech is making deep inroads into Assam’s rural economy. Platforms like PhonePe, Paytm, Google Pay, and local innovator HookoluPay are bridging the financial inclusion gap that persisted for decades. HookoluPay, founded by entrepreneur Aziz Ali, is aggressively expanding into tourism hubs, rural haats, and tea gardens.
Its AI-powered pilots are automating wage disbursements, enabling real-time digital payouts, and offering vernacular tools that make digital transactions accessible even to first-time users.
With prepaid solutions, RuPay-UPI integrations, and digital credit offerings, HookoluPay is working with SHGs, local cooperatives, and rural banks to build a cashless, transparent ecosystem in the heart of Assam.
Speaking to Business North East (BNE) Aziz Ali said, “A key focus area for HookoluPay is supporting digital transactions in tourism hotspots across the hilly terrains of the Northeast, where many merchants still rely on cash payments.
By empowering local businesses and vendors in these scenic yet remote areas, HookoluPay aims to simplify transactions for both domestic and international tourists, thereby boosting the local tourism economy.
Furthermore, HookoluPay is making significant strides in assisting tea garden workers in Assam, where wages and salaries are still largely paid in cash. By providing UPI and PPI-based solutions, the platform is helping these workers transition to cashless payments, promoting financial inclusion, and ensuring timely and secure access to their earnings.
This initiative also helps bring transparency and efficiency to wage disbursement processes in the tea industry.
The company is committed to extending services like RuPay credit card payments on UPI, digital credit lines, and PPI integration to reach unbanked and underserved populations. Through strategic partnerships with merchants, government bodies, cooperative banks, and MSMEs, HookoluPay is building a robust, inclusive digital payment network”.
He further said, “Our vision is to make UPI accessible at every pin code in India. From small villages and tea estates to hill stations and urban slums, HookoluPay is bridging the digital divide and helping build a cashless, inclusive economy,” he stated.
HookoluPay stands aligned with the Digital India mission, driving transparency, accessibility, and economic empowerment across the nation.”
Formal banking figures mirror this digital transformation. Assam’s total bank deposits have crossed a historic Rs. 2.23 lakh crore, driven by an expanding base of over 2.5 crore Jan Dhan accounts, largely held by women. Initiatives like Aadhaar-enabled banking, Direct Benefit Transfers (DBTs), and the Assam Micro Finance Incentive and Relief Scheme (AMFIRS) have strengthened rural trust in formal financial institutions. For many families, digital accounts are now central to their economic resilience and future aspirations.
The e-commerce boom is telling alongside this fintech revolution. Handloom weavers, bamboo artisans, and organic farmers across Assam are now selling their products straight to national and global markets via platforms like Amazon Saheli, Flipkart Samarth, and emerging local digital bazaars. Traditional items such as Eri silk stoles, black rice, and bamboo crafts are no longer confined to local fairs—they are traveling across continents.
This direct access to consumers is boosting rural incomes, preserving cultural heritage, and fuelling a new generation of digital entrepreneurs.
Nationwide, the push toward a digital economy is accelerating. The 2025 Union Budget reinforced support for MSMEs and startups through expanded digital platforms like ONDC and regulatory sandboxes for blockchain and AI innovations. India’s Unified Payments Interface (UPI) is expected to handle 90 percent of all retail digital payments by 2026–27, with daily transaction volumes projected to cross 1 billion. WhatsApp’s recent approval to extend UPI services to its 500+ million Indian users will only deepen digital financial inclusion, especially in rural areas. Meanwhile, Flipkart’s announcement to repatriate its holding company to India signals a maturing digital ecosystem, aligned with IPO readiness and national priorities.
Globally, the landscape is shifting as well. Brazil’s Pix payment system is set to outpace credit cards for online transactions. In Europe, the European Central Bank’s push for a digital euro reflects growing concerns about dependency on American payment networks. In China, new regulations are set to end 'refunds without returns' practices by mid-2025, aiming to stabilize the e-commerce sector amid broader economic challenges.
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Against this backdrop, Assam is emerging as a model of rural digital transformation. Villagers routinely scan QR codes at roadside stalls, artisans process online orders from customers around the world, and rural women access microloans through a few taps on their smartphones. Fintech startups like HookoluPay, recognized by DPIIT, are part of a broader movement that is placing Assam and Northeast India firmly on the national innovation map.
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