Qatar World Cup 2022Portugal beats Uruguay 2-0, qualifies for round of 16

Fintech industry needs to work relentlessly on safety to uphold people's trust: PM Modi

Prime Minister Modi said the fintech domain in India has earned goodwill by being an enabler of inclusion, and there is a need for continued focus to empower the poorest of the poor by taking quality financial services to them.

September 20, 2022 01:07 pm | Updated 01:07 pm IST - Mumbai

Prime Minister Narendra Modi. File

Prime Minister Narendra Modi. File | Photo Credit: PTI

Prime Minister Narendra Modi on September 20 said the fintech sector needs to work relentlessly on safety and reliability to uphold trust of the people.

In his message at the Global Fintech Fest, Mr. Modi said the sector has been an example of the wonders that can be worked when a government that encourages innovation comes together with the energy of young and inventive minds.

In Focus podcast | Has the new RBI circular impacted the fintech industry negatively?

"Innovation for inclusion has been our mantra, leading to the revolution in public delivery ensured by the JAM Trinity, success of UPI in making digital payments a way of life, and India's global rise in the fintech and startup space as a hub of innovation and investment," Mr. Modi said in the message which was read out by Kris Gopalakrishnan, Chairman, GFF 2022 Advisory Board. JAM Trinity refers to Jan Dhan-Aadhaar-Mobile.

Mr. Modi said from a largely unbanked population to a country that is not only surging towards saturation in banking access but also digitally equipped, it has been a phenomenal journey.

"People involved in the fintech domain know well that constant innovation is the name of the game. Rapid, relentless and proactive work in ensuring security, safety and reliability is important to uphold the enormous trust that the people have placed," he said.

Finance Ministry asks banks to explore fintech partnership, co-lending opportunities

The Prime Minister said the fintech domain in India has earned goodwill by being an enabler of inclusion, and there is a need for continued focus to empower the poorest of the poor by taking quality financial services to them.

He exuded confidence that the deliberations in the event will focus on how the fintech sector can play a crucial role in the ' Amrit Kaal', leading to the creation of a strong, prosperous and inclusive India.

Top News Today

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.