Ripple added a new branch office in india to broaden india's digital economy

Ripple's is committed to provide frictionless global payment services to the financial institutions around the world. To make work that commitment, they have launched the new office in india, ripple is seeking the growing customer base services. Previously, they have opened office in Australia in 2015, in japan, with the joint venture with SBI in early 2016 and in U.K. last summer.

They have now expanded their office in Mumbai, India. Ripple choosen the country manager Navin Gupta for India. He spent his decades of time in transaction banking, product management and global strategy roles in HSBC and CitiBank across the U.S, Hong-Kong, Japan, Taiwan and India. As being lots of experience in the sector of financial world, he has been appointed for the post.

'Digital India' is a campaign launched by the Government of India to ensure the government's services are made to be available to citizens electronically by improving online infrastructure and by increasing Internet connectivity or by making the country digitally empowered in the field of technology. Government is in fully support of it. The trend changing decision was made by Narendra Modi on 2 July 2015. Although, country fully doesn't support digital currency due to high transaction fee and mediater fees and possible fraud can happen due to digital decentralized currency.

According to the prediction made by the financial analyst, the digital economy of india will reach to $1 trillion by 2022 from $270 billion today. The mainstream which drives india to the global frictionless payment is the unified community across the india and the advancement of technology is the result of high level of education provided to the students in technological field. It is said that ripple will be succes to give fluent service to the digital india with making the frictionless efforts to the digital transaction.

India is the largest recipient corporate and retail remittances worldwide, totaling close to $71 billion.

Axis Bank, YES Bank & other banks and non-banks across the country are showing their interest to support frinctionless payment to the customer.