NITI Aayog to organise FinTech Conclave 2019

NITI Aayog is organising a day-long FinTech Conclave at Dr. Ambedkar International Center, New Delhi tomorrow on 25th March, 2019. The objective is to shape India’s continued ascendancy in FinTech. It will build the narrative for future strategy and policy efforts, and to deliberate steps for comprehensive financial inclusion,  The Conclave will be featuring representatives from across the financial space – central ministries, regulators, bankers, startups, service providers and entrepreneurs.

Governor, RBI will inaugurate the conclave and it will be attended by senior government officials.

Conclave will host more than 300 representatives from the leading Financial Institutions including HDFC Bank, IndusInd, ICICI Bank, SBI Card, Tata Capital and FinTechs including BankBazaar, PhonePe, Capital Float, Zerodha, PayTM, MobiKwik, PayU, leading venture capital investors, state governments, MSMEs and industry subject matter experts. 

Government of India’s efforts have focused on Digital India and developing India Stack. This includes Voluntary Aadhaar for financial inclusion. These initiatives have evoked significant interest from various stakeholders in the area of Financial Technology (FinTech).

Background:

India is one of the fastest growing FinTech markets globally. Industry research has projected that USD 1 Trillion or 60% of retail and SME credit, will be digitally disbursed by 2029. The Indian FinTech ecosystem is the third largest in the globe, attracting nearly USD 6 billion in investments since 2014.

The Indian FinTech industry is creating cutting edge intellectual property assets in advanced risk management and artificial intelligence. This will propel India forward in the global digital economy while simultaneously enabling paperless access to finance for every Indian.

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