by The Government of India has informed Parliament that there are over 3,000 recognized fintech startups operating in the country. The information was provided by Minister of State for Finance, Shri Bhagwat Karad, in a written reply to a question in the Lok Sabha.
The minister said that the government has been promoting the fintech sector through various initiatives, such as the setting up of the National Fintech Centre and the launch of the Startup India Seed Fund Scheme. He added that the government is also working on a regulatory sandbox framework for fintech startups.
The minister said that the fintech sector is growing rapidly in India and is expected to reach a value of $150 billion by 2025. He added that the sector is creating jobs and is helping to improve financial inclusion in the country.
The minister also said that the government is committed to promoting the fintech sector and is working to create a conducive environment for startups to grow and succeed.
The information about the over 3,000 recognized fintech startups operating in India is a positive sign for the growth of the sector. The sector is expected to continue to grow in the coming years and is likely to create more jobs and improve financial inclusion in the country.
