PU alumnus Dr Hemant Garg says FinTech is Future!
Dr. Garg, Nodal Officer
(Social Media) at the International Financial Services Centers Authority
(IFSCA), believes that Crypto assets powered by blockchain technology will
evolve and become popular in the same way as social media evolved from what it
was in 2015. However, the RBI is in the process of releasing Blockchain CBDC (Central
Bank Digital Currency) as the only legal tender, by imposing 30% tax on Crypto assets,
the government has initiated the process towards recognising the crypto assets
in
In future, the focus of Indian Fintech’s will be on securely speeding up the financial transactions with the help of technologies like Blockchain and Quantum Computing. Financial institutions like banks are looking for tech partners for themselves, which is a good sign for the progress of FinTech. But banks will have to make sure to stop online frauds. Only then will the real benefit of Fintech be available to the common users. Before the pandemic, artificial intelligence (AI) did not have much role in banks. But the lockdown changed the scenario. Digital banking is not just about going paperless and cashless, but it has brought more convenience and freedom to people, he added.
The Infinity Forum 1.0,
managed by Dr Hemant Garg, was held in collaboration with NITI Aayog, Invest
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