2024 India Economic Survey calls for addressing fintech regulatory gaps, promoting data-based lending, and fostering bank-fintech collaboration.
India's Economic Survey 2024 highlights the need for addressing regulatory gaps in fintech, aligning with global best practices, and promoting customer-centric approaches. Key recommendations include shifting towards data-based lending, developing a common user data framework like KYC across regulators, and fostering collaboration between banks and fintech companies. The survey also emphasizes the potential for AI, ML, decentralized finance, and IoT in the future of digital payments.
July 22, 2024
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