India's Fintech Diversity Amazes People Across World: PM "From landing at the airport to experiencing street food and shopping, India's fintech revolution is visible everywhere," said Prime Minister Narendra Modi.

Prime Minister Narendra Modi on Friday said that Fintech sector has played an important role in making financial services democratic and it has made access to credit easy, inclusive, in Mumbai.

Addressing a gathering at the Global Fintech Fest (GFF), Modi said, "In last 10 years, more than USD 31 billion have been invested in fintech space and fintech start-ups have grown by 500 per cent. Cheap mobiles, data and zero balance account under the Pradhan Mantri Jan-Dhan Yojana (PMJDY) have done wonders in the country."

He said that there was a time when people around the world used to get amazed by the cultural diversity of the country. Now, people come to India and get astonished by our fintech diversity too.

"From landing at the airport to experiencing street food and shopping, India's fintech revolution is visible everywhere," he added.

He said that there is hardly any citizen who does not hold digital ID (Aadhar Card). "Today, 530 million people have Jan-Dhan bank accounts. We have connected population equals to European Union, to bank accounts in the last 10 years," Modi said.

He said that India was among those nations where banking services were not affected during the COVID-19 pandemic.

"Even during such a huge pandemic like Covid, India was among those countries where banking services were unaffected. Jan-Dhan Yojana completed its 10 years which has been a great medium of women empowerment. Under this scheme, bank accounts of 29 crore women were opened," he said.

The Prime Minister further said that India's UPI has become a great example of Fintech in the entire world.

"I have faith in our fintech ecosystem that it will increase the quality of life of Indians," he added.