Fintech will lead to financial revolution: PM Modi,
The banking sector has become a medium for good governance and better service delivery, Modi said, adding that Digital Banking Units (DBUs) will further financial inclusion and enhance the banking experience for users.
“If Jan Dhan accounts had laid the foundation of financial inclusion in the country, then fintech would form the basis of a financial revolution,” he said on Sunday while dedicating 75 DBUs in as many districts in the country. DBUs are brick-and-mortar outlets that provide.
Prime Minister Narendra Modi called for a “fintech revolution” to achieve the financial charge of every single citizen, and said the country has made significant progress in this area because people trusted the Indian digital ecosystem.
The Prime Minister said that the success of fintech lies in its inclusiveness and the common good. “The large base becomes the perfect springboard for fintech innovations. The fintech industry in India is innovating to enhance access to finance and (access to ) the formal credit system for every person in the country.”