PM Modi hopes to build the fintech initiative into a revolution to empower people

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On Friday, Prime Minister Narendra Modi declared that now is the time to transform fintech projects into a fintech revolution that will empower people.

He continued by stating that India has proven to the globe that it is second to none when it comes to technology adoption and innovation.

On Friday, PM Modi said that transformational activities under Digital India had offered chances for innovative Fintech solutions to be implemented in governance while inaugurating a leadership Forum on Financial Technology (FinTech).

PM Modi acknowledged that the country had expressed a high trust in the fintech ecosystem by adopting digital payment. “Technology is becoming a major element of the world of finance,” he said. Adding that fully digital branches are already a reality and might become commonplace in less than a decade. Additionally, in India, mobile payments surpassed ATM cash withdrawals for the first time last year.

He remarked that GIFT city, India’s global financial hub, is more than just a building; that represents India. It symbolizes India’s democratic values and demands, demographics, and diversity. It symbolizes India’s willingness to accept new ideas, innovations, and investments. GIFT City serves as a portal to the global fintech community.

Income, investment, insurance, and institutional credit are the four pillars that support fintech. He believes it is incomplete without security evolution.

“With the rest of the world, we believe in both sharing and learning from our experiences and skills.” According to PM, our Digital Public Infrastructure solutions can benefit citizens worldwide.

According to the Prime Minister’s Office (PMO), more than 70 countries will attend the summit. The Prime Minister’s Office (PMO), with Indonesia, South Africa, and the United Kingdom as partner countries.

On Wednesday, Prime Minister Narendra Modi urged young people to attend the summit, particularly start-ups, technology, and innovation. Saying it “will set the tone for stakeholders to think beyond conventional mindsets, and approach and discuss new trends in SpaceTech, GreenTech, AgriTech, quantum computing, and more.”

FinTech Beyond Next will be discussed, focusing on how quantum computing may change the character of the Fintech industry in the future and open up new opportunities.

Malaysian and Indonesian finance ministers are among the speakers. Mukesh Ambani, chairman of Reliance Industries; Masayoshi Son, CEO of SoftBank Group; Arvind Krishna, Chairman and CEO of IBM Corporation; and Uday Kotak, CEO of Kotak Mahindra Bank are among the speakers.

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