Passion of India's fintech sector is truly enviable: Piyush Goyal
Commerce and Industry Minister Piyush Goyal suggested the fintech players speak more openly about India's success in the fintech space.
Union Minister of Commerce and Industry Piyush Goyal praised the fintech sector’s passion and innovation in accelerating financial inclusion in the country.
"Today, every willing adult proudly has a bank account of their own. They are able to transact using their bank account; poor and less privileged sections of society who are beneficiaries of the government's affirmative action are able to receive money from the government without any middlemen, without any corruption through a completely honest and transparent mechanism," Goyal said during a keynote speech at the Global Fintech Festival in Mumbai.
The Minister also highlighted how Prime Minister Narendra Modi was instrumental in making Jan Dhan Yojana, which recently completed 10 years, a success. The scheme has been instrumental in increasing banking penetration across the country through zero-balance accounts.
He mentioned that the Prime Minister had dedicated time every day to personally track the progress of the Jan Dhan scheme. Goyal recalled that every morning PM Modi would get a report about the progress of the scheme from 700-odd districts, and personally called and encouraged bank managers to keep them motivated.
Goyal also suggested the fintech players present at the festival speak more openly about India's success in the fintech space.
"Our success story needs to be told across the world," he said. "I urge one of you who are able to travel and interact at different forums internationally to please take some literature and keep yourself up to date with all that is happening in the great India fintech story and take the message across the world."
Edited by Kanishk Singh