Modi tells financial institutions to have maximum partnerships with Fintechs
UPI should become a means of financial inclusion and empowerment for the whole world, said Prime Minister Narendra Modi, calling on all stakeholders to collectively work for it.
“RuPay and UPI are not just a low cost and highly secure technology, but it is our identity in the world. There is immense scope for innovation,” he said.
“I suggest that our financial institutions should also have maximum partnership with Fintechs to increase their reach,” he stressed to delegates at a Post Budget Webinar on ‘Enhancing Efficiency of the Financial Services for Creating Growth Opportunities’.
He told the Indian talent, infrastructure and innovators to take the Indian financial system to the top.
“In the era of ‘Industry 4.0’ platforms developed by India are becoming models for the world,” said Modi, giving examples of GeM, Digital transactions.
“Today, the need of the hour is that the benefits of the strength in India’s banking system should reach the maximum number of people,” the Prime Minister exhorted the participants.
Giving an example of the Government’s support to the MSME sector, he asked the banking system to reach out to the maximum number of sectors.
“One crore 20 lakh MSMEs have received huge help from the government during the pandemic. In this year’s budget, the MSME sector has also got additional collateral-free guaranteed credit of 2 lakh crores.
“Now it is very important that our banks reach out to them and provide them adequate finance,” he underlined. fiinews.com
