Govt & Industry Together Can Take FinTech 2.0 To The Next Level: K Rajaraman

Mr K Rajaraman, Additional Secretary (Investment & IER), Department of Economic Affairs, Ministry of Finance called upon the industry for collective brainstorming and working jointly with the government for taking FinTech 2.0 to the next level. Fintech has enabled the financial inclusion and the government welcomes the initiatives of the industry for public good. The government recognizes the transformational value of fintech, he added. India's fintech sector has inspired and won the confidence of global investors. He urged the industry to participate in the inter-ministerial committee meetings headed by Secretary, Economics Affairs and highlight the concerns faced by the sector. He said that the Department is working with various stakeholders including RBI, SEBI, IRDAI and NBFCs, ministries, banks, industry, for finding innovative and holistic solutions to take forward the fintech sector. "COVID-19 has created a temporary disruption for businesses and the government has come out with a number of liquidity measures for businesses and is also providing cash and employment support to vulnerable sections of the society," he added.

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