Modi first head of govt to ad­dress Fin­tech fes­ti­val

Hindustan Times (Amritsar) - - Nation - Shishir Gupta let­ters@hin­dus­tan­times.com ■

NEWDELHI: Prime Min­is­ter Naren­dra Modi will be first head of gov­ern­ment to ad­dress the Sin­ga­pore Fi­nan­cial Tech­nol­ogy (Fin­tech) fes­ti­val, the largest of its kind in the world, on Novem­ber 14, and will fo­cus on In­dia’s fi­nan­cial in­clu­sion story, and the de­mon­eti­sa­tion ex­er­cise which broad­based tax col­lec­tion and en­sured bet­ter com­pli­ance even as it helped the cause of digi­ti­sa­tion. PM Modi will be in Sin­ga­pore on Novem­ber 14-15 for the East Asia Sum­mit and will meet US vice pres­i­dent Mike Pence and Chi­nese Pre­mier Li Ke­qiang.

Ac­cord­ing to South Block of­fi­cials, PM Modi is also ex­pected to launch a plat­form, an­chored in Sin­ga­pore, which will ini­tially con­nect In­dian start-ups to ASEAN banks and fi­nan­cial in­sti­tu­tions. This is af­ter PM in May-June this year launched the RuPay plat­form by us­ing it him­self to pur­chase an In­dian hand­i­craft prod­uct. He also launched the first cross-bor­der re­mit­tance app based on In­dia’s Uni­fied Pay­ment In­ter­face, which can be­come a con­ve­nient, quick, in­ex­pen­sive and se­cure means for the In­dian di­as­pora and mi­grant work­ers to re­mit money to In­dia.

With In­dia hav­ing one of the largest fin­tech sec­tors and start up sec­tors in world, PM Modi will ad­dress over 30,000 par­tic­i­pants from 100 coun­tries, 230 lead­ing ex­perts from pub­lic pol­icy, fi­nance and tech­nol­ogy sec­tors, and the at least 400 ex­hibitors at the fes­ti­val.

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