NITI Aayog to hold FinTech Conclave on Monday

NEW DELHI: The NITI Aayog will organise the FinTech Conclave 2019 on financial technologies in the national capital on Monday, according to an official announcement here.

A NITI Aayog statement on Sunday said that the conclave, to be inaugurated by Reserve Bank of India (RBI) Governor Shaktikanta Das, will be attended by senior government and RBI officials, as well as more than 300 representatives from the leading financial institutions

“The objective is to shape India’s continued ascendancy in fintech, build the narrative for future strategy and policy efforts, and to deliberate steps for comprehensive financial inclusion,” it said.

“The Conclave will be featuring representatives from across the financial space – central ministries, regulators, bankers, startups, service providers and entrepreneurs.

“The conclave will host more than 300 representatives from the leading financial institutions, including HDFC Bank, IndusInd, ICICI Bank, SBI Card, Tata Capital and fintechs like BankBazaar, PhonePe, Capital Float, Zerodha, PayTM, MobiKwik and PayU,” it added.

Leading venture capital investors, state governments, micro, small and medium Enterprises (MSMEs) and industry experts will also be present.

The statement also said the valedictory session of the conclave will have presentations consolidating sector-specific findings of the various panels on themes such as “digital onboarding of customers and merchants for financial inclusion, building financial products for millennial India and emerging areas of fintech.”

Citing industry research that $1 trillion, or 60 per cent, of retail and SME credit, will be digitally disbursed by 2029, it said that India is one of the fastest growing fintech markets globally.

The Indian fintech ecosystem is the third largest in the globe, attracting nearly $6 billion in investments since 2014, the statement added.