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FM Sitharaman Backs Fintech Growth at Pine Labs Visit

28 May 20251 min read
BANKING & FINANCEFM SitharamanBacks FintechGrowth at PineLabs Visit28 May 2025safalsetu.com

Why in the news

During a visit to Pine Labs in Noida, the Finance Minister highlighted fintech’s contribution to secure, inclusive financial services, notably for merchants and MSMEs.

Key facts

  • The Centre is encouraging states to digitise records faster through 50-year interest-free capital expenditure loans and extra rewards for early adopters.
  • She said ground-level momentum exists but efforts must scale up greatly.
  • The government aims to craft fintech-friendly policies and take Indian fintech innovations global.
  • She cited the G20 Digital Public Infrastructure Taskforce report, favouring plug-and-play systems that respect sovereignty, such as API Setu and GSTN open APIs.

Exam angle

  • Company visited: Pine Labs (Noida).
  • State loan tenure: 50 years, interest-free.

Test yourself

1. Which company's Noida office did Finance Minister Nirmala Sitharaman visit in May 2025 while speaking on fintech?

She visited Pine Labs' Noida office.

2. What tenure of interest-free capital expenditure loans is the Centre offering states to speed up digitisation?

Loans are 50-year and interest-free.

3. Which report did the Finance Minister cite in favour of plug-and-play, sovereign-compliant digital systems?

She referred to India's G20 Digital Public Infrastructure Taskforce report.

This topic is part of Daily Current Affairs 28 May 2025 (20 topics).

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