.jpeg)
DFS advised that Fintech must be a major factor in financial inclusion
Fintech: Department of Financial Services Secretary M Nagaraju emphasized the role of fintech companies in promoting financial inclusion. He said that companies need to use offline payment solutions and technology like AI.
In order to accelerate financial inclusion, fintech firms must concentrate on offline payment solutions. Department of Financial Services Secretary M Nagaraju made these remarks at the CII Summit on Financial Inclusion and Fintech.
Financial inclusion is an initiative to provide financial products and services that are accessible and affordable for all individuals and businesses. Fintech firms, or financial technology firms, employ technology to deliver and enhance financial services.
Nagraju said that fintech should also increase the use of technology like artificial intelligence (AI) to increase consumer convenience. Apart from this, he also underlined that in today's time, financial inclusion is being considered a major factor in economic development and poverty alleviation globally.
