Friday, January 28, 2022

Prime Minister calls for Fintech revolution to achieve financial empowerment of every single citizen

The Prime Minister has said, Fintech revolution will help to achieve financial empowerment of every single citizen of the country. After inaugurating the InFinity Forum through video conferencing yesterday, the Prime Minister said, Finance is the lifeblood of an economy and technology is its carrier and both are equally important for achieving Antyodaya and Sarvodaya.

Highlighting the importance of fintech, Mr. Modi said, fintech has immense opportunity in the country and now it is time to convert these fintech initiatives into a fintech revolution. Mr Modi said, Fintech is resting on four pillars – income, investments, insurance and institutional credit.

Prime Minister Narendra Modi said, India has proved to the world that it is second to none when it comes to adopting technology or innovating around it.

The Prime Minister said, mobile payments exceeded the ATM cash withdrawals for the first time last year in the country and fully digital banks have become a reality and may become commonplace in less than a decade.

The InFinity Forum event is being hosted by International Financial Services Centres Authority under the aegis of Government of India in collaboration with GIFT City and Bloomberg. Indonesia, South Africa and the U.K. are partner countries in the first edition of the Forum.

AIR correspondent reports that this two-day event is a thought leadership forum with a focus on aspects relating to FinTech and using it for inclusive growth. InFinity Forum has an interesting theme ‘Beyond.’ InFinity Forum will witness participation from over 70 countries. NITI Aayog, Invest India, FICCI and NASSCOM are some of the key partners in this year’s Infinity Forum.

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