BHUBANESWAR: Electronics and IT Minister (E&IT) Tusharkanti Behera on Wednesday said India stands among world’s fastest-growing fintech markets, rivalling the UK in funding volume. Odisha, he said, is not behind as a multitude of measures has been initiated to promote fintech by the state government.
Speaking at the Global Fintech Festival 2023 at Mumbai, Behera shed light on the remarkable strides taken by the fintech sector. He highlighted Odisha’s participation in the fintech revolution and said the state is committed to innovation.“Odisha has launched several citizen welfare schemes, leveraging technology for delivery of public services and financial assistance,” he said.
The state’s financial inclusion, the minister said, has been recognised nationally and internationally for schemes like Krushak Assistance for Livelihood and Income Augmentation (KALIA) and the Social Protection Delivery Platform (SPDP), which offer cashless, paperless, and faceless access to social benefits and services.
Behera also outlined the state government’s efforts to create a conducive environment for fintech startups and businesses, offering incentives, promoting innovation, and attracting major players to the state. “The commitment has already yielded promising results, with several fintech startups making a mark nationally,” he added.
Stating that Odisha has a thriving fintech ecosystem and a rapidly growing economy, Behera said, the state’s strong focus on technology and innovation makes it an ideal destination for fintech ventures.
The event was jointly organised by the National Payments Corporation of India (NPCI), the Payments Council of India (PCI), and the Fintech Convergence Council (FCC).
The Global Fintech Festival brought some of the brightest analytical minds in the fintech industry to one platform. It played a pivotal role in showcasing the multifaceted fintech ecosystem’s transformative potential and its capacity to drive sustainable global progress.Principal secretary of Electronics and IT Manoj Kumar Mishra and special secretary Manas Ranjan Panda also attended the event.