Amidst the ongoing politics over Shivaji’s statue in Maharashtra, Prime Minister Modi is also on a mission. Today the Prime Minister has a program in Mumbai and Palghar. Addressing a special session of ‘Global FinTech Fest 2024’ at Jio World Convention Center in Mumbai, PM Modi said that the speed and scale at which the people of India have adopted FinTech… its example cannot be found anywhere else. A big credit for this goes to our Digital Public Infrastructure-DPI as well as our FinTech.
During this, PM Modi said, ‘This is the festive season in India. We have just celebrated Janmashtami and look at the happiness, there is a festive atmosphere in our economy and our market too. This Global FinTech Fest is happening in this festive mode, and that too in the city of dreams, Mumbai.’
India’s fintech revolution is visible everywhere – PM
The Prime Minister said that there was a time when people were amazed to see our cultural diversity. Now, people come to India and are amazed to see our fintech diversity too! From landing at the airport to enjoying street food and shopping, India’s fintech revolution is visible everywhere.
PM Modi said, ‘In the last 10 years, more than $31 billion has been invested in the FinTech space. In 10 years, our FinTech startups have grown by 500%. Cheap mobile phones, cheap data and zero balance Jan Dhan bank accounts have done wonders in India. In just a decade, broadband users in India have increased from 6 crores to about 94 crores.’
Also read: Today PM Modi will lay the foundation stone of Vadhavan Port in Maharashtra, 12 lakh people will get employment from this project worth Rs 76220 crore
Digital revolution has taken place in India- PM
Giving the example of India’s digital revolution, PM Modi said, ‘Today there is hardly any Indian above the age of 18 who does not have his Digital Identity i.e. Aadhar Card. Today more than 53 crore people have Jan Dhan bank accounts. That means in 10 years we have in a way connected a population equal to the entire European Union to the banking system. This trinity of Jan Dhan, Aadhar and mobile has accelerated another transformation. People once used to say that Cash is King, today almost half of the world’s real time digital transactions happen in India. India’s UPI has become a huge example of Fintech in the whole world.’
800 speakers will address
In this FinTech conference, around 800 speakers including policy makers, regulators, senior bankers, industry leaders and academicians from India and various countries will address more than 350 sessions during this conference. It will also showcase the latest innovations in the FinTech landscape.
Source (PTI) (NDTV) (HINDUSTANTIMES)