Sitharaman Visits Pine Labs, Witnesses Demonstrations Of Fintech Solutions Under Development
The demonstrations were related to fintech solutions being developed around prepaid instruments, the account aggregator framework, and digital services used in the public distribution system.
Finance Minister Nirmala Sitharaman visited the office of Pine Labs, a financial technology firm based in Noida, according to a post on X from the finance minister's office's account on Tuesday.
Sitharaman interacted with the firm's employees and staff and watched demonstrations on fintech solutions.
The demonstrations were related to "solutions being developed around prepaid instruments, the Account Aggregator (AA) framework, and digital services used in the Public Distribution System (PDS) and other government schemes & services (sic)," her office tweeted.
One of the firm's notable innovation unveiled to the public was 'UPI Setu', a unified payments interface-focused product. It was launched in August 2024.
The product, launched by Setu, a Pine Labs arm, was done in partnership with Axis Bank Ltd. and was designed with intention to assist all forms of unified payment interface transactions, also including businesses and developers.
