India’s FinTech Diversity Amazes Everyone: PM Modi at Global Fintech Fest 2024

GG News Bureau
Mumbai, 30th August. Prime Minister Narendra Modi delivered a keynote address at the Global Fintech Fest (GFF) 2024 held at the Jio World Convention Centre in Mumbai, Maharashtra.

The GFF, organized by the Payments Council of India, the National Payments Corporation of India, and the Fintech Convergence Council, is a major event designed to highlight India’s advancements in fintech and bring together key industry stakeholders.

During his address, Prime Minister Modi lauded India’s fintech revolution for its role in enhancing financial inclusion and driving innovation.

He emphasized the impact of the Jan Dhan Yojana, which has been instrumental in boosting financial inclusion and empowering women, with over 530 million Jan Dhan accounts now operational.

PM Modi highlighted that the Unified Payments Interface (UPI) stands as a testament to India’s fintech success, enabling 24/7 banking services across the country.

The Prime Minister noted that India’s fintech sector has seen remarkable growth, with over $31 billion in investments and a 500 percent increase in startups over the past decade.

He praised the transformative role of fintech, which goes beyond technological advancements to include significant social impacts, such as bridging the gap between urban and rural India and democratizing financial services.

PM Modi also discussed the government’s commitment to supporting fintech innovation, including policy changes to encourage research and development, and measures to combat cyber fraud. He underscored that fintech has played a crucial role in modernizing financial services and making them more accessible to the masses.

In his concluding remarks, the Prime Minister expressed confidence that India’s fintech ecosystem will continue to enhance the quality of life globally, and he looked forward to participating in the 10th edition of GFF in the future.

The event was also attended by Reserve Bank of India Governor Shaktikanta Das and GFF Chairman Kris Gopalakrishnan, among other dignitaries.

The GFF 2024 features around 800 speakers from various sectors and is set to showcase the latest innovations and research in the fintech industry.