Government Establishes Fintech Panel to Address Regulatory Challenges
To address regulatory concerns and devise a long-term strategy for the financial technology sector, the Indian government has set up an Inter-Ministerial-Industry Committee on Fintech (IMICF). The committee, chaired by the Secretary of the Department of Financial Services (DFS), aims to evaluate fintech’s impact on the banking and financial services industry (BFSI), identify obstacles to growth, and study global best practices in governance and regulation.
Led by DFS Secretary and includes officials from,
Summary/Static | Details |
Why in the news? | Government Establishes Fintech Panel to Address Regulatory Challenges |
Committee Name | Inter-Ministerial-Industry Committee on Fintech (IMICF) |
Chairperson | Secretary, Department of Financial Services (DFS) |
Key Government Departments | MeitY, DPIIT, Economic Affairs, NITI Aayog |
Regulatory Bodies | RBI, SEBI |
Industry Experts | BillDesk, Jupiter, Acko, Groww, KPMG, McKinsey |
Focus Areas | Regulatory concerns, fintech growth, policy framework |
Report Submission Timeline | Within three months from the first meeting |
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