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India's FinTech diversity amazes everyone, says PM Modi

India's FinTech diversity amazes everyone, says PM Modi

Prime Minister Narendra Modi  has said India’s fintech is going to ease the lives of people globally. Addressing a special Global Fintech Fest (GFF) 2024 in Mumbai on Friday,Modi said India’s FinTech adoption is unmatched in speed and scale, and half of the world’s real-time digital transactions happen in India.The Prime Minister said that FinTech has played a significant role in democratising financial services. He added that digital transactions have diminished the menace of a parallel economy and have increased transparency in the banking system. Mr. Modi said that the transformation brought about by FinTech in India is not limited to just technology. He said the social impact of these initiatives is far-reaching.

Speaking on the occasion, Governor of the Reserve Bank of India Shaktikanta Das opined that India now stands on the cusp of a transformation where technology will be the engine to meet the aspirations of every citizen.The Prime Minister also visited the GFF exhibition, showcasing the latest innovations of the fintech landscape.

The Global Fintech Fest (GFF) 2024 is being jointly organised by the Payments Council of India, the National Payments Corporation of India, and the Fintech Convergence Council. Around 800 speakers, including policymakers, regulators, senior bankers, industry captains, and academicians, from India and various other countries are going to address more than 350 sessions in the conference. 

 

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