Shaping for financial inclusion, FinTech Conclave targets fast tracking investments for Millennial India..!

NewsBharati    25-Mar-2019
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New Delhi, March 25: Presenting the consolidating sector specific findings of the various breakout panels on themes such as Digital Onboarding, Building Financial Products for Millennial India, Emerging Areas of FinTech, Fast Tracking Investments in FinTech Industry and Financial Inclusion of MSMEs, NITI Aayog organised a FinTech Conclave at the national capital.

 
India, being one of the fastest growing FinTech markets globally, industry research has projected that USD 1 Trillion or 60% of retail and SME credit, will be digitally disbursed by 2029. The Indian FinTech ecosystem is the third largest in the globe, attracting nearly USD 6 billion in investments since 2014.
The objective of this conclave organised, is to shape India’s continued ascendancy in FinTech, build the narrative for future strategy and policy efforts, and to deliberate steps for comprehensive financial inclusion. The Conclave featured representatives from across the financial space, central ministries, regulators, bankers, start-ups, service providers and entrepreneurs.
The Indian FinTech industry is creating cutting edge intellectual property assets in advanced risk management and artificial intelligence that will propel India forward in the global digital economy while simultaneously enabling paperless access to finance for every Indian.
Hosting more than 300 representatives from the leading financial institutions including HDFC Bank, SBI Card, Tata Capital and FinTechs including BankBazaar, PhonePe, Capital Float, the government efforts focused on Digital India and developing India Stack including Voluntary Aadhaar for financial inclusion having evoked significant interest from various stakeholders in the area of Financial Technology.
The Conclave, being inaugurated by the RBI Governor, was honoured by senior government officials from Economic Affairs, Financial Services, Deputy Governors of RBI and others.