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FM Nirmala Sitharaman Bats For Regulatory Support For Fintechs, Says ‘Compliances Have To Be Simplified’

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FM Nirmala Sitharaman Bats For Regulatory Support For Fintechs, Says ‘Compliances Have To Be Simplified’

Indian Finance Minister Nirmala Sitharaman has assured fintech startups of the government's support and assistance, saying that the problems faced by a few startups should not be seen as a sectoral issue. Sitharaman highlighted the need to simplify compliances and make them more user-friendly. She also emphasised that fintech startups are crucial for innovation and reiterated the government's commitment to supporting the sector. The comments were made during a meeting with fintech entrepreneurs, where concerns were raised regarding regulatory support and clarifications. Despite challenges, the Indian fintech sector has seen significant funding, with over $28 billion raised by 726 startups between 2014 and 2023.

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