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FM Sitharaman calls for fintech innovation, acknowledging its role in MSME growth, during visit to Pine Labs

  • Finance Minister Nirmala Sitharaman visited Pine Labs, a Noida-based fintech firm, acknowledging the role of fintech innovation in India's digital public infrastructure and financial services for MSMEs.
  • During the visit, Sitharaman emphasized the importance of digitization and incentivizing states to expedite their digital transformation efforts.
  • The Finance Minister witnessed demonstrations by Pine Labs on prepaid instruments, account aggregator framework, and digital services for government schemes during the visit.
  • India has established itself as a global fintech hub with the highest adoption rate, strong regulatory support, funding, and technological readiness, expected to reach a market value of $180-200 billion by 2029.

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