Digital Payments played an instrumental role during this pandemic in cash transfer under PM Garib Kalyan Yojna

New Delhi: Prime Minister dream of Atmanirbhar Bharat can be fulfilled by fintech said by Chief Guest Shri Sanjay Dhotre, Union Minister of State for Education, Communications and Electronics & Information Technology, Government of India today at CII Conference on Cashless and Digital economy. He opined that fintech should focus on the long term and future considering finance should reach each person of India through technology and inclusion to be made a priority. He emphasizes on making the financial transaction simple and easy going. He said that during COVID 19, Digital Payments played an instrumental role during this pandemic and cash transfer under the PM Garib Kalyan scheme was possible due to digital payment infra.

Prime Minister dream of Atmanirbhar Bharat can be fulfilled by fintech: Sanjay Dhotre

In his Keynote Address, Mr. Abhimanyu Munjal, Deputy Chairman, CII (Northern Region), and Joint Managing Director & CEO, Hero FinCorp Ltd said that the digital economy is the most important gateway for innovation, competitiveness, and growth in the country. He added that the world is very dynamic and is continuously changing today and one of the fundamental drivers of change is digital transformation. He said that post demonetization the growth of digital payment infrastructure was phenomenal and continuously a boon for all during this pandemic.

In his welcome address, Mr. Ashutosh Chadha, Conference Chairman, and Vice President & Head South Asia, Public Policy & Government Affairs Mastercard said that true Digital inclusion will only be seen if every single citizen merchant and establishment is seamlessly and frictionlessly able to adapt to digital commerce. This requires creating a safe secure payment ecosystem, providing users with multiple interoperable solutions, and ensuring there is no concentration risk said by Mr. Chadha.

Dr. Rishi Mohan Bhatnagar, President, Aeris Communications in his address said that empowering Rural India with digital payments models will drive huge transparency in financial transactions, help in curtailing parallel economy & greatly improve ease of business. Indian FinTech’s have a huge role to play here he added. We have the second largest number of start-ups in the world and Indian entrepreneurs are capable to lead & transform digital payments in the rural economy and further strengthening Atmnirbhar Bharat said by Dr. Bhatnagar.

In his theme address, Mr. Abhishant Pant, Founder, The Fintech Meetup said that India is one of the youngest countries in the world. He added that the advantage of youth is best utilized when a curious mind is rightfully involved in enterprise creation. Startups, therefore, represent an interesting way to channelize this energy in a way that leads to the creation of Atmanirbhar Bharat said by Mr. Pant. He said that India is a dominant player in the Fintech startup category and it is extremely important that this lead is further accelerated. He further appreciated the CII conference as a great step in that direction of bringing all relevant stakeholders together.

Speaking at the Conference, Mr. Anirban Mukherjee, Chief Executive Officer, PayU India said India has a domestically developed payments infrastructure that is world-class and we are hoping to further develop it together with our ecosystem partners. Our core focus continues to be the digitization of all merchants in the country and building a broader fintech ecosystem he added.

Mr. Ravi Rajagopalan, Managing Director & CEO, Empays Payment Systems India in his address said that COVID 19 has completely changed the world. He also said that health and safety, and localization of purchase behavior are the new normal. The big shift that has taken place towards digital behavior in the last three months is probably the only silver lining to emerge in an otherwise challenging landscape said by Mr. Rajagopalan.

The event marked the presence of experts from Airtel Payments, Bharatpur, Fino Payments,  Phonepe, SWIFT, BharatPe, and others and attended by over 150 participants.

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