August 30, 2024: On Friday, Prime Minister Narendra Modi said the government is taking various measures at the policy level to promote the fintech sector, which attracted over USD 31 billion in investments in the last 10 years, and the abolition of the Angel Tax is also a step towards the growth of the segment.

Addressing the Global Fintech Fest 2024 here, the PM Modi also asked the regulators to take more measures to stop cyber fraud and further increase digital literacy among people.

“Fintech has played a significant role in democratising financial services,” he said, and expressed confidence that it will help in improving the quality of life for Indians.

PM Modi emphasised that the adoption of fintech by Indians is "unmatched in speed and scale" and no such example can be found anywhere else in the world.

He said the transformation brought about by the fintech sector in India is not just limited to technology, but its social impact is far-reaching.