Fintech Revolution

Rationale/Causes

• Growing Digital Services: In India, digital payment systems have been widely adopted during the past two years, making it much easier to conduct fundamental financial activities. Numerous reasons, like as the rising prevalence of smartphones, improved internet access, and high-speed connectivity, have contributed to the growth and expansion of the FinTech ecosystem in India.
• Administrative Decisions: Government initiatives like the introduction of the GST and demonetization have also greatly increased the possibilities for growth of fintech enterprises across the nation.
• COVID 19: COVID-19 pandemic has hastened this digitalization across various categories, with contactless and cashless payments promoted to encourage ....