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DFS Secretary Maddirala Meets Fintech Leaders

  • 07 Jan 2025 11:01 AM
  • Nagaraju Maddirala, DFS, fintech expansion, fintech companies

The meeting chaired by Nagaraju Maddirala, Secretary of the Department of Financial Services (DFS), focused on the rapid expansion of India's fintech and startup sectors. Held in New Delhi, the meeting was attended by various key representatives, including those from the Reserve Bank of India (RBI), National Payments Corporation of India (NPCI), the Ministry of Finance's Financial Intelligence Unit, the Ministry of Electronics and Information Technology, and leaders from approximately 60 fintech companies.

Maddirala highlighted the crucial role of India's digital payment infrastructure in fueling the growth of the fintech industry. He stressed the need to expand and enhance digital payment systems, particularly in rural areas, through the use of the Unified Payments Interface (UPI). Furthermore, he called for greater emphasis on digital footprint-based lending to support micro, small, and medium-sized enterprises (MSMEs) in India. Leading figures from companies like Cred (Kunal Shah), MobiKwik (Bipin Preet Singh), and Google Pay (Sharath Bulusu) attended the event, along with representatives from industry associations such as the Startup Policy Forum, Payments Council of India, and the Digital Lenders Association of India.

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