A naukri.com initiative
Startup Pedia
4w
6.1k
Image Credit: Startup Pedia
Fintech firms should view rural areas as new markets, not just social responsibility: FM Nirmala Sitharaman
- Finance Minister Nirmala Sitharaman encourages Indian fintech startups to see agriculture and rural areas as new markets, not just social responsibility.
- She emphasizes the need for innovations in agriculture to connect farmers better with markets.
- Fintech firms are urged to focus on rural India for market creation opportunities.
- Sitharaman stresses the importance of providing credit to Micro, Small, and Medium Enterprises (MSMEs).
- Indian companies are innovating rapidly in digital payments, outpacing some advanced countries.
- Other countries are interested in interacting with India to learn from its digital payment advancements.
- Winners of the Digital Payments Awards include Punjab National Bank, HDFC Bank, WhatsApp Meta, and PhonePe.
- Public and private banks, as well as fintech companies, were recognized for their contributions to digital payments.
- Equitas Small Finance Bank and India Post Payments Bank were among the winners in small finance and payments bank categories.
- The event highlighted the importance of digital payments infrastructure and innovation in the financial sector.
- Fintech firms are advised to seize the opportunities in rural India's evolving market.
- Sitharaman commends Indian companies for their rapid progress in digital payments, surpassing many other nations.
- The Finance Minister stresses the vital role of fintech companies in extending credit to MSMEs.
- Fast Moving Consumer Goods (FMCG) companies are witnessing a resurgence in demand from rural areas.
- International interest in India's digital payment advancements is growing.
- Overall, the event showcased the significance of digital payments and fintech innovation in India's financial landscape.
Read Full Article
7 Likes
For uninterrupted reading, download the app