Fintech Sector Needs To Work On Safety To Uphold People's Trust, Says Narendra Modi

The Prime Minister also said that the fintech domain in India has earned goodwill by being an enabler of inclusion, and there is a need for continued focus to empower the poorest of the poor by taking quality financial services to them

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Prime Minister Narendra Modi, on Tuesday, said that the fintech sector needs to work relentlessly on safety and reliability to uphold the trust of the people. In his message at the Global Fintech Fest, Modi also said that the fintech sector has been an example of the wonders that can be worked when a government that encourages innovation comes together with the energy of young and inventive minds.

Narendra Modi Twitter handle

As per the message that is read out by Kris Gopalakrishnan, chairman of GFF 2022 advisory board, Modi said that, "Innovation for inclusion has been our mantra, leading to the revolution in public delivery ensured by the JAM Trinity, success of UPI in making digital payments a way of life, and India's global rise in the fintech and startup space as a hub of innovation and investment."

The Prime Minister also added that the fintech domain in India has earned goodwill by being an enabler of inclusion, and there is a need for continued focus to empower the poorest of the poor by taking quality financial services to them.

"People involved in the fintech domain know well that constant innovation is the name of the game. Rapid, relentless and proactive work in ensuring security, safety and reliability is important to uphold the enormous trust that the people have placed," he added.

Expressing the viewpoints on the same with Entrepreneur India, Jitin Bhasin, founder and CEO of SaveIN, an embedded finance platform, said that, "We at SaveIN are disrupting how Indians can access timely and quality healthcare with enhanced affordability through the use of embedded finance at point of care. This being a truly need based, responsible and transparent credit program is very much in line with the Hon'ble Prime minister's call for fintechs to innovate in a sustainable and inclusive manner."