Prime Minister Narendra Modi is likely to join the Global Fintech Fest (GFF) on August 30.
The prime minister will attend the conference in person, according to three people familiar with the development.
The event will also feature representation from the country’s top regulators, including Reserve Bank of India (RBI) Governor Shaktikanta Das and Securities and Exchange Board of India (Sebi) chief Madhabi Puri Buch.
The GFF is an annual fintech conference, and this year it is scheduled for August 28-30.
It will host more than 800 speakers in over 350 sessions and is expected to attract more than 80,000 participants.
The three-day event comes at a time when the fintech sector, which spans areas such as digital payments, lending, insurance and wealth management, continues to expand in the country.
RBI Governor Das will address the event on August 28, and Sebi chief Buch will join the event the next day.
The event will host fintech startups, banking executives, regulators and global financial services players.
The conference comes amid a growing number of fintech companies in the country.
India has around 10,244 fintech entities, making it the third largest in the world, according to data from the Finance Ministry.
India’s flagship real-time payments system, the Unified Payments Interface (UPI), has reached a milestone this year.
The payments system, which runs on the rails of the National Payments Corporation of India (NPCI), has recorded 55.66 billion transactions worth Rs 80.79 trillion in the current financial year (FY25).
In FY24, UPI crossed 100 billion transactions for the first time, ending the year with 131 billion, compared to 84 billion in FY23.
In the first half of 2024, financing to fintech companies was estimated at $795 million, compared to $1.93 billion in the same period last year, according to data from market intelligence platform Tracxn.
First published: August 23, 2024 | 19:23 IS
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