The Finance Minister, Nirmala Sitharaman in her Press Conference held in Mumbai while meeting the heads of public sector banks (PSBs) to review the financial performance of the lenders and progress made by them in supporting the pandemic hit economy urged the banking sector to understand the needs of emerging sectors like fintech and support them.
“From inputs given by officers from Tax administration, it emerged that Banks need to understand the special requirements of the Sunrise sector. Example fintech, one such sector can provide technological help to banks as well as benefit from the banking sector,” Sitharaman said.
The report highlights banks are keen to join hands with fintech, particularly neo-banks and wealth tech platforms.
The finance minister had said the government is ready to do everything required to revive and support economic growth hit by the COVID-19 pandemic.
Support our journalism by subscribing to Taxscan AdFree. Follow us on Telegram for quick updates.
