What is the News?<\/b><\/p>\n
The Prime Minister has inaugurated InFinity Forum, a thought leadership Forum on FinTech.<\/span><\/p>\n Click Here to read about the InFinity Forum<\/b><\/a><\/p>\n Fintech (finance and technology) refers to any business that uses technology to enhance or automate financial services and processes.\u00a0<\/span><\/p>\n India\u2019s <\/span>financial inclusion efforts were the driver of the \u2018fintech revolution\u2019.Fintech is resting on four pillars – income, investments, insurance and institutional credit.\u00a0<\/span><\/p>\n When income grows, investment becomes possible; insurance covers enable greater risk-taking ability and investments, and institutional credit brings means for advancement. Hence, when all those factors come together, one will suddenly find a large number of people embracing fintech innovation.<\/span><\/p>\n Mobile payments in India exceeded ATM cash withdrawals for the first time last year.\u00a0<\/span><\/p>\n The government has universalised bank accounts with 430 million Jan Dhan accounts in the last seven years from less than 50% of Indians having bank accounts in 2014.<\/span><\/p>\n UPI is processing around 4.2 billion transactions in just last month<\/span><\/p>\n PM Svanidhi enabled access to credit for small vendors across the country<\/span><\/p>\n e-RUPI enabled targeted delivery of specified services without leakages.<\/span><\/p>\n Fintech firms should focus on ensuring greater security in their transactions to retain the trust of people who have embraced digital payments and financial technologies.<\/span><\/p>\n Source<\/b>: <\/span>This post is based on the article<\/span> \u201c<\/b>PM inaugurates InFinity Forum, a thought leadership Forum on FinTech<\/b>\u201d <\/b>published by<\/span> PIB<\/b> on 4th December 2021.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":" What is the News? The Prime Minister has inaugurated InFinity Forum, a thought leadership Forum on FinTech. Click Here to read about the InFinity Forum What is Fintech? Fintech (finance and technology) refers to any business that uses technology to enhance or automate financial services and processes.\u00a0 What are the pillars of Fintech? India\u2019s financial… Continue reading PM inaugurates InFinity Forum, a thought leadership Forum on FinTech<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,9],"tags":[4176,10539,3590],"class_list":["post-150891","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-public","tag-ifsca","tag-infinity-forum","tag-pib","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1701345702},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/150891","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=150891"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/150891\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=150891"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=150891"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=150891"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}What is Fintech?<\/b><\/h5>\n
What are the pillars of Fintech?<\/strong><\/h5>\n
India\u2019s Financial Inclusion Initiatives with the help of Fintech\u00a0<\/b><\/h5>\n
Suggestions to improve FinTech<\/b><\/h5>\n