Rajeev Chandrasekhar: Fintech driving the innovation ecosystem in India

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Speaking at the Fintech Festival India, the Minister of State for Electronics and Information Technology, Skill Development and Entrepreneurship Rajeev Chandrasekhar stated at the Fintech Festival India that India has one of the fastest growing fintech ecosystems in the world, which is driving innovation in the country.

According to government data, India has 6,636 fintech startups, 22 of which are unicorns. According to Chandrasekhar, the Indian fintech industry will be worth $31 billion by 2021, and the country has the highest fintech adoption rate in the world, at 87 percent. The MoS also stated that India’s fintech ecosystem has contributed to the restoration of trust between citizens and the government, as well as faith in democracy. He also stated that fintech eliminates the possibility of corruption and leaks, and that beneficiaries of any government scheme that includes remittances receive the funds directly into their bank accounts.

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We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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Rajeev Chandrasekhar: Fintech driving the innovation ecosystem in India

Speaking at the Fintech Festival India, the Minister of State for Electronics and Information Technology, Skill Development and Entrepreneurship Rajeev Chandrasekhar stated at the Fintech Festival India that India has one of the fastest growing fintech ecosystems in the world, which is driving innovation in the country.

According to government data, India has 6,636 fintech startups, 22 of which are unicorns. According to Chandrasekhar, the Indian fintech industry will be worth $31 billion by 2021, and the country has the highest fintech adoption rate in the world, at 87 percent. The MoS also stated that India’s fintech ecosystem has contributed to the restoration of trust between citizens and the government, as well as faith in democracy. He also stated that fintech eliminates the possibility of corruption and leaks, and that beneficiaries of any government scheme that includes remittances receive the funds directly into their bank accounts.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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