Department of Financial Services Secretary Nagaraju Maddirala chaired a meeting with key fintech players in New Delhi on Tuesday.
The meeting was attended by representatives from the Reserve Bank of India, National Payments Corp.. Ministry of Finance's Financial Intelligence Unit, Ministry of Electronics and Information Technology, and about 60 founders and co-founders of various Fintech companies and industry associations, according to a release by the PIB. "Speaking to the representatives, the Secretary, DFS acknowledged the swift expansion of India's startup and fintech sectors, particularly over the past decade."
Maddirala said the digital payment infrastructure supports the growth of the fintech industry, emphasising the importance of enhancing digital payment systems in rural areas, especially through the Unified Payments Interface, as well as promoting digital footprint-based lending for the micro, small and medium enterprises.
From the companies' side, the meeting was attended by Cred Founder Kunal Shah, MobiKwik's Bipin Preet Singh and Google Pay's Sharath Bulusu, apart from BillDesk, Infibeam Avenues and Razorpay.
Industry bodies like Startup Policy Forum, Payments Council of India and Digital Lenders Association of India were also in attendance.
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