Emphasising fintech’s central role in India’s financial inclusion push, Finance Minister Nirmala Sitharaman on October 14 said the rapid expansion of digital infrastructure and fintech applications has allowed credit to be delivered without collateral, while enabling near-universal access to payments.

At the inauguration of the dhaRti BioNEST Incubation Centre at IIT Dharwad, she said fintech has built a “fantastic foundation” for both rural and urban India. “India stands out in having tried, tested, scaled up and sped up adaptability of FinTech solutions all at one go in a matter of seven, eight years. We couldn't have achieved financial inclusion without the Jan Dhan yojana, which depended on the digital public infrastructure,” she said.

Digital lending

Sitharaman noted that loan

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