Digital India's transformational initiatives have paved the way for innovative Fintech solutions

Prime Minister Narendra Modi launched the InFinity Forum, a thought leadership forum on FinTech, through video conference on Friday, December 3, 2021, at 10 a.m.Prime Minister Narendra Modi launched the InFinity Forum, a thought leadership forum on FinTech, through video conference on Friday, December 3, 2021, at 10 a.m. The prime minister stated that digital India's transformational initiatives have paved the way for innovative FinTech solutions to be used in governance.

In his keynote address, the Prime Minister stated that mobile payments in India surpassed ATM cash withdrawals for the first time last year.

"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.

"It is time now to convert these fintech initiatives into a fintech revolution. A revolution that helps to achieve financial empowerment of every single citizen of the country," the prime minister said in his speech.

Fully digital banks, without any physical branch offices, are already a reality, according to PM Modi, and may become widespread in less than a decade.

"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.

On December 3 and 4, 2021, the International Financial Services Centres Authority (IFSCA), under the supervision of the Government of India, sponsored the event in cooperation with GIFT City and Bloomberg.

According to a news statement from the Prime Minister's Office, Indonesia, South Africa, and the United Kingdom are partners in the first edition of the Forum.

The InFinity Forum will bring together the world's greatest brains in policy, business, and technology to discuss and provide actionable insight into how the FinTech industry can use technology and innovation to promote inclusive growth and serve humanity as a whole.