New Delhi [India], Mar. 5 (ANI): The Centre on Monday announced the formation of a steering committee to examine issues faced by the FinTech industry in India.
The decision follows an announcement made by Finance Minister Arun Jaitley on the setting up of a group under the Finance Ministry that will help devise institutional development measures to spur growth of FinTech firms.
Owing to the large credit deficit of the aforementioned segment, Jaitley had emphasised that FinTech firms and NBFCs could drive the growth of MSMEs in India, and hence must undertake necessary steps to increase lending activity. (ANI)