Tuesday, May 16, 2023

Online Agricultural lending platform by RBI Soon: Indian Banks’ Association (IBA) Chief Executive at Fintech Festival India 2023

•       RBI is coming up with a platform where agricultural lending can be made online

•       FinTech Festival India will host more than 150 speakers and 10,000 attendees over next three days in Mumbai

•       Government of Telangana is the State Partner of FinTech Festival India 2023

Mumbai, Tuesday, 16th May 2023 – The second edition of FinTech Festival India (FFI) has kickstarted at the Jio World Centre in Mumbai with a focus on FinTech advancements and predictions. The 3-day event themed "Democratising Digital Economy", FinTech Festival India 2023 aims to help shape the future of finance in the world’s second-fastest-growing FinTech ecosystem and the larger global business environment. 

During the event Sunil Mehta, Chief Executive, Indian Banks’ Association lauded the role of the banking system in integrating technology in promoting economic recovery, Job creation, and supporting small businesses, communities during the challenging times through scores of initiatives such as DBT, Mudra Yojna, Kisan Samman Yojna etc. 

He further opined that India has done better than others in supporting their businesses by creating digital payment infrastructure. The first phase of digital payment is already over. Now it's a time for the growth of digital lending and most of the platforms are already coming for it and the banking system has effectively adopted it. 

He emphasised that the agriculture sector is required to be taken to the next stage and RBI is coming up with a platform where agricultural lending can be made online. They can be assisted through the local VCs, the banking correspondents, they can go to the CSC centres and such farmers can on-board it for funding to the agriculture. 

Featuring over 150 speakers and expecting more than 10,000 attendees, FFI will delve into some of the most trending topics shaping the FinTech industry, including Web 3.0, Digital Identity, future of BFSI in the Metaverse, Neobanks, Blockchain, Cybersecurity, Cloud Security, AI revolutionizing BFSI, Insurtech and more. 

On the Centre Stage, the first day focuses on examining "The Here and Now of FinTech”, while day two will explore "Building a Financially Inclusive Future - Vision 2025," and the final day will dive into "Vision 2030 - Shaping FinTech Future Together!" 

The Impact Stage and Open Stage will also run their own parallel conference agenda with fruitful and impactful deliberations on diverse areas of finance. These include curated specialised masterclasses by India Blockchain Forum and Indian School of Business that are uniquely designed to provide a comprehensive understanding of the FinTech sector, enabling industry professionals to delve deeper into its complexities and opportunities. 

FFI 2023 has onboarded Government of Telangana as State Partner, with prominent FinTech experts and industry stalwarts including Indian Banks Association, ICICI Bank, DBS Bank India, IDBI Bank, YES Bank, Airtel Payments Bank, MUFG, Federal Bank, In-Solutions Global, WebEngage, American Express, Fintech Association for Consumer Empowerment (FACE), Bureau.id, BharatPe, Prove, Cover Genius, Zerodha, Kinara Capital, Simpl and Barclays and many more participating at the event.

FFI is also hosting business delegations from at least 10 countries along with influential global innovators, leaders and governance stakeholders providing their unique perspectives on the growth and future of fintech, including banking, lending, payments, regtech, insurtech, and other key areas. 

FinTech Festival India is an event of Constellar, who co-organises the Singapore FinTech Festival. With The London Institute of Banking & Finance (LIBF) as the Knowledge Partner, FinTech Festival India 2023 is supported by 12 industry associations.


No comments: