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In September 2021, Finance Minister Nirmala Sitharaman announced fintech adoption rate of India at Global Fintech Fest 2021. What is the fintech adoption rate of India?

In September 2021, Finance Minister Nirmala Sitharaman announced fintech adoption rate of India at Global Fintech Fest 2021. What is the fintech adoption rate of India? Correct Answer 87%

The correct answer is 87%.

Key Points

  • The fintech adoption rate in India is 87 per cent whereas the global average is only 64 per cent.
  • This was informed by Finance Minister Nirmala Sitharaman in her remarks at Global Fintech Fest 2021.
  • It was organized by the Internet and Mobile Association of India (IAMAI), Fintech Convergence Council (FCC), Payments Council of India (PCI), and National Payments Corporation of India in Sept 2021.
  • QR codes, UPIs, NEFTs, etc modes of payments are used at every level of payments in India.

Important Points

  • The theme of Global Fintech Fest 2021 is FinTech: Empowering a Global Digital Economy, GFF 2021.
  • This was the second edition of the Global FinTech Festival (GFF).

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