Fintech and Digital Banking: Strengthening Financial Services
India’s financial sector is getting a digital upgrade, with a focus on inclusivity and innovation.
*Key Announcements:*
- ?7,000 crore *Fintech Growth Fund* to boost innovation in digital banking.
- Tax incentives for *blockchain-based financial services* and *digital payments infrastructure*.
- Expansion of *UPI services* to rural areas to enhance financial inclusion.
- Introduction of *AI-driven fraud detection systems* to improve banking cybersecurity.
*Sectoral Impact:*
- *Financial inclusion* will increase, with digital banking playing a pivotal role in reaching the unbanked.
- *Fintech startups* will flourish, providing more opportunities for tech and finance professionals.
- Enhanced *security measures* will build trust in India’s digital financial ecosystem.
