The Government has constituted a Steering Committee on Financial Technology Sector (Fintech) to consider various issues related to the development of the Fintech space in India.  With a view, to leverage the growth in the sector, the Government has decided to focus on financial inclusion of MSME’s, affordable housing, delivery of e-services to vulnerable sections, provision of land record management and other government services among other growth drivers of the economy.

The Committee will focus to make regulations related to the sector more flexible and generate enhanced entrepreneurship in an area where India has distinctive comparative strengths vis-à-vis other emerging economies.

The Committee has been constituted under the Chairmanship of Secretary, Department of Economic Affairs (DEA).

The objective of the Committee is to consider means of using data with GSTN and data residing with information utilities such as Credit Information Companies (CICs) in open domain with a view to developing applications for financing of MSMEs.

For more information, please visit http://pib.nic.in/newsite/PrintRelease.aspx?relid=176943