Indian Prime Minister Narendra Modi has said that India has proved to the world that it is second to none when it comes to adopting technology or innovating around it.
His remarks came while inaugurating InFinity Forum via video conference on December 3 and he said that Transformational initiatives under Digital India have opened doors for innovative Fintech solutions to be applied in governance.
"Last year, in India, mobile payments exceeded ATM cash withdrawals for the first time. Fully digital banks, without any physical branch offices, are already a reality and may become commonplace in less than a decade," PM Modi said. He said that now it is time to convert these fintech initiatives into a fintech revolution. "A revolution that helps to achieve financial empowerment of every single citizen of the country," he added. "We believe in sharing our experiences and expertise with the world and learning from them as well. Our Digital Public Infrastructure solutions can improve the lives of citizens around the world," the Prime Minister said. The event was hosted by International Financial Services Centres Authority (IFSCA), under the aegis of the Government of India in collaboration with GIFT City and Bloomberg on December 3 and 4, 2021. Indonesia, South Africa and the UK are partner countries in the first edition of the Forum.