SME Times News Bureau | 06 Mar, 2018
The
Government has formed a
Steering Committee to
study issues relating to development of Fintech space in India and
its use to enhance financial inclusion of Mirco, Small and Medium
Enterprises (MSMEs).
To
consider various issues relating to development of Fintech space in
India with a view to make Fintech related regulations more flexible
and generate enhanced entrepreneurship in an area where India has
distinctive comparative strengths compared to other emerging
economies, an official release said Monday.
The
Steering Committee will also focus on how Fintech can be leveraged to
enhance financial inclusion of MSMEs, it
added.
Union
Minister of Finance and Corporate Affairs Arun Jaitley in his Budget
Speech 2018-19 announced
formation of a Steering
Committee.
The
committee will consider how
Fintech can be leveraged in critical sectors of the economy,
especially financing of MSMEs, affordable housing, delivery of
e-services to vulnerable sections, provision of land record
management and other government services, access and adoption of
digital payments, and to study the developments in these areas.