The Union Finance Minister Nirmala Sitharaman on Tuesday advised the Fintech Industry players to cut down distance and have greater engagement with the Government, says a PTI report.<\/p>\n
\u201cI do not want to sound cliche, but distance brings distrust. So cut the distance down and have greater engagements with the Government,” she said.<\/p>\n
The Finance Minister was answering a question put by Kris Gopalakrishnan, Chairman, Global Fintech Fest 2022 (GFF) Advisory Board, at GFF 2022 in Mumbai.<\/p>\n
Sitharaman said everyone in the government, — whether the Prime Minister, Ministers or the Think-Tank Niti Aayog — were readily available for engagement, discussions and exchange of ideas.<\/p>\n
\u201cGreater the engagement, the greater is the trust which gets built up. So I think, one sure shot way of retaining and building on trust is to keep the constant engagement going,\u201d the Finance Minister suggested.<\/p>\n
Sitharaman said there are opportunities for Fintech players to play the role in a sustainable financial environment, and take advantage of the specific opportunities in green finance \u2014 a financial arrangement for specific use of funds for environmentally sustainable development products.<\/p>\n
To another question on the role of Reserve Bank and the Finance Ministry on the proposed digital currency, Sitharaman said the apex bank would come out with the RBI-driven digital currency.<\/p>\n
She further said that RBI\u2019s regulatory sandbox mechanism has provided a structured and institutionalized framework through which Fintech companies are able to test their new products, new innovations before scaling them. This has helped in testing it in a controlled environment and post that they are able to scale up rapidly so that the markets can benefit and they can accelerate the product innovations.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Union Finance Minister Nirmala Sitharaman on Tuesday advised the Fintech Industry players to cut down distance and have greater engagement with the Government, says a PTI report. \u201cI do not want to sound cliche, but distance brings distrust. So cut the distance down and have greater engagements with the Government,” she said. The Finance […]<\/p>\n","protected":false},"author":3,"featured_media":5736,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3833,1,8,6,31],"tags":[72,4381],"class_list":["post-6994","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate","category-economy-and-politics","category-india-inc","category-opinion-makers","category-news","tag-fintech","tag-gff2022"],"aioseo_notices":[],"yoast_head":"\n