Reserve Bank of India (RBI) has appointed 5-member committee under the chairmanship of Nandan Nilekani to strengthen digital payments as well as to boost financial inclusion through Financial Technology.
This announcement made by Reserve Bank of India (RBI) Governor Shaktikanta Das at the first event of Financial Technology (Fintech) Conclave, which was organized by NITI Aayog in New Delhi.
The purpose of the event is to shape India’s predominance in FinTech, build the future strategy and policy to uplift the financial inclusion.
With the revolution in the FinTech sector India’s aim is to emerge as a 10 trillion dollar economy.
Financial technology, popularly known as FinTech, is the new technology and innovation to make financial services more accessible for the common people. Mobile banking, internet banking, digital payment are examples of Financial technologies.