Fintech has been an emerging industry that utilizes technology to enhance the pursuits of the finance industry. It intends to challenge conventional financial systems in the distribution of financial services. And presently the Indian government is inaugurating the fintech system with its "InFinity Forum" in India. This forum will bring together the chief minds of the world in strategy, business, and technology to examine and commence strong insight into how technology and modification can be carried by the Fintech industry for the overall growth of the country.
The Prime Minister’s Office has stated that this inauguration event of the fintech forum in India is being hosted by the International Financial Services Centres Authority (IFSCA) under the sights of the Indian Government in collaboration with GIFT City and Boomerang. In the first edition of the forum, Indonesia, South Africa, and the United Kingdom are the partner nations. The forum will also witness participation from over 70 nations across the world.
India's Prime Minister Narendra Modi has stated that,
"The large base becomes the perfect springboard for fintech innovations. The fintech industry in India is innovation to enhance access to finance and the formal credit system to every person in the country."
The central agenda of the forum is directing the theme “Beyond”, and its multiple sub-themes with governments and businesses centering beyond the geographic limits in the global development to promote financial inclusiveness. It is including points like FinTech Beyond Finance, SpaceTech, AgriTech, and GreenTech, with a focus on how the Fintech industry in the future will promote new opportunities.
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