Fin­tech Im­pact Snap­shot

Banking Frontiers - - Success Story -

The In­dian Fin­tech mar­ket is fore­cast to touch $2.4 bil­lion by 2020 from a cur­rent $1.2 bil­lion, as per NASSCOM The trans­ac­tion value for the In­dian fin­tech sec­tor was es­ti­mated to be ap­prox­i­mately $33 bil­lion in 2016 and is fore­cast to reach $73 bil­lion in 2020 grow­ing at a 5-year CAGR of 22% Economic Im­pact of fin­tech and dig­i­tal finance (i) GDP Im­pact: $700 bil­lion boost by 2025, (ii) $800 bil­lion new de­posits (iii) $600 bil­lion new credit e-Gov­er­nance – $3 bil­lion re­duc­tion in leak­ages, re­sult­ing in $2 bil­lion sav­ings in sub­si­dies

New em­ploy­ment cre­ation. While In­dia pro­duces 12 mil­lion STEM (sci­ence, tech­nol­ogy, en­gi­neer­ing and math­e­mat­ics) grad­u­ates every year, fin­tech and dig­i­tal finance can cre­ate 21 mil­lion new jobs

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.