Govt's Continued Support for Fintech Industry

New Delhi, Jun 18 (PTI) Finance Minister Nirmala Sitharaman on Wednesday held a review meeting with fintech firms and assured that the government will continue to support the industry.

During an interaction with founders, CEOs and senior leaders of fintech companies, various issues such as ease of doing business for fintechs and preventing financial frauds were discussed.

Sitharaman assured that the government will continue to support the fintech industry, the Finance Ministry said in a post on X.

The meeting, which was held on the sidelines of Digital Payments Awards 2025 here, was also attended by Minister of State for Finance Pankaj Chaudhary and Secretary, Department of Financial Services, M Nagaraju.

While addressing players during the Digital Payments Awards 2025 event, she urged fintech firms to view rural India as a fertile ground -- not just as a social responsibility but as an opportunity to create new markets.

In just three years, nearly 700 entities as of FY25 across banking, insurance, securities, and pensions have joined the Account Aggregator (AA) platform, up from only 24 in FY22, she said.

The number of accounts linked through AA has soared to over 15 crore, compared to a mere 1.5 lakh in FY22 - driving loans worth over Rs 88,700 crore and empowering nearly 1 crore personal finance management users, while lowering onboarding costs for intermediaries, she said.

Quoting Prime Minister Narendra Modi, the finance minister said, fintech should not only 'Make in India' but also 'Make for the world'.

"In this context, Indian fintech innovations have the potential to become global public goods that can benefit other emerging and developed economies.

"This will open new markets for our firms...our players must aim to export our successful models abroad and capture global markets. We have the talent, we have the market scale, and we have the proven solutions," she said.