Global Fintech Fest highlights: India's fintech revolution is improving financial inclusion, says PM
PM Modi at Global Fintech Fest highlights: Catch all the news developments here
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Mumbai: Prime Minister Narendra Modi looks at a Virtual Reality (VR) demonstration during a visit to an exhibition at the Global FinTech Fest, in Mumbai, Friday, Aug 30, 2024. RBI Governor Shaktikanta Das is also seen. (Photo: PTI)
Prime Minister Narendra Modi today stated that the government is making necessary policy changes, like removal of Angel Tax, to promote the fintech sector, even as he asked the regulators to take additional measures to check cyber frauds which can have a crippling impact on startups. Lauding the fintechs for democratising financial services, PM Modi said the sector, which has attracted $ 31-billion investment in the last 10 years, has played a key role in denting the parallel economy.
Prime Minister Modi was speaking at the Global Fintech Fest (GFF) 2024 at Mumbai's Jio World Convention Centre. This event was a collaborative effort organised by the Payments Council of India, the National Payments Corporation of India, and the Fintech Convergence Council.
The conference will feature over 350 sessions with presentations from roughly 800 speakers. These presenters include a diverse group of experts such as policymakers, regulators, high-ranking banking officials, industry leaders, and academics from India and various other nations. "I look forward to being among the people of Maharashtra tomorrow, 30th August. I will take part in programmes in Mumbai and Palghar. In Mumbai, I will take part in the Global Fintech Fest 2024 at around 11 AM. This platform showcases India's strides in the world of Fintech and brings together key stakeholders of the sector. Thereafter, I will be in Palghar for the foundation stone laying programme of the Vadhvan Port project. This is a very important project, signifying our commitment to port-led development and to the progress of Maharastra," posted PM Modi on X.
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Jan Dhan has become one of the largest platforms for women’s empowerment: PM Modi
Jan Dhan has become one of the largest platforms for women’s empowerment, having facilitated the opening of 290 million bank accounts for women, PM Modi asserted. “Based on the philosophy of Jan Dhan accounts, we launched the Mudra scheme. Through this scheme, over Rs 27 trillion in credit has been disbursed, and over 70 per cent of the scheme’s beneficiaries are women,” PM Modi said today.
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Have integrated the banking system with a population equivalent to that of the European Union: PM Modi
“Today, over 530 million people have Jan Dhan bank accounts. Over the past ten years, we have successfully integrated the banking system with a population equivalent to that of the European Union,” PM Modi said about the government's financial inclusion programme that completed 10 years this week. The trinity of Jan Dhan, Aadhaar, and mobile has resulted in India processing almost all of the world's real-time digital transactions, Modi said.
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Adoption of fintech by Indians is 'unmatched in speed and scale,' says PM Modi
PM Modi stated that that adoption of fintech by Indians is "unmatched in speed and scale" and no such example can be found anywhere else in the world. He said the transformation brought about by the fintech sector in India is not just limited to technology, but its social impact is far-reaching.
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I have faith in our fintech ecosystem that it will provide quality life to Indians, says PM Modi
I have certain expectations from regulators, we need to take big steps to stop cyber frauds, increase digital literacy, PM Modi stated today.
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Taking all steps at policy level to help fintech sector; have also abolished Angel Tax, says Modi
PM Modi stated that fintech has dented parallel economy and helped in bridging the gap between villages and cities.
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Fintech sector played crucial role in making access to credit easy, inclusive: PM Modi
Fintech sector has played important role in making financial services democratic, made access to credit easy, inclusive, PM Modi stated today.
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Cheap mobiles, data and zero balance account under Jan-Dhan Yojana have done wonders for India, says PM
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GFF 2024: Loans worth over Rs 27 billion disbursed under Pradhan Mantri MUDRA Yojana, says PM Modi at GFF
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In last 10 years, more than $31 bn have been invested in fintech space: PM Modi
Fintech startups have grown by 500 per cent, says PM Modi.
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News update: India's FinTech revolution is improving financial inclusion, driving innovation, says PM Modi
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Global Fintech Fest LIVE: Presence of PM has inspired us to build tech which is future ready, says Das
'India is on cusp of transformation,' RBI Governor Shaktikanta Das stated ahead of PM Modi's address.
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PM Modi visits an exhibition at Global FinTech Fest
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800 speakers, including policymakers, regulators, senior bankers to speak at GFF
GFF 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 will address more than 350 sessions at the conference.
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PM Modi to lay foundation stone for lay the foundation stone of Vadhvan Port project
Prime Minister Narendra Modi will lay the foundation stone of Vadhvan Port project worth around Rs 76,000 crore in Palghar, his office has said.
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Global Fintech Fest 2024 LIVE news updates: PM Modi address Fintech Fest in Maharashtra today
Prime Minister Modi is set to speak at the Global Fintech Fest (GFF) 2024 at approximately 11 AM at Mumbai's Jio World Convention Centre. Following this, at about 1:30 PM, PM Modi will inaugurate and lay the foundation stone for multiple development projects at the CIDCO ground in Palghar.
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First Published: Aug 30 2024 | 10:41 AM IST
