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PM Modi calls for ‘fintech revolution’ based on inclusiveness and trust

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3 years ago

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PM Modi calls for ‘fintech revolution’ based on inclusiveness and trust

Prime Minister Narendra Modi called for a “financial technology revolution” on Friday to realize the financial empowerment of every citizen, saying that the country has made significant progress in this regard because of people’s trust in India’s digital ecosystem.

“Inclusive finance is the driving force of the fintech revolution,” Prime Minister Modi said, adding that fintech relies on the four pillars of income, investment, insurance and institutional credit.

He made the above remarks while speaking in a virtual manner at the InFinity Forum of the International Financial Services Center Authority (IFSCA) financial technology event.

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He said that when income grows, investment becomes possible, adding that insurance coverage can improve risk-bearing capacity and investment. Modi also said that institutional credit provides wings for expansion, and India has made efforts in each of these pillars.

The Prime Minister of India pointed out that the success of financial technology lies in its inclusiveness and common interests. “The huge foundation becomes the perfect springboard for fintech innovation. India’s fintech industry is innovating to increase everyone’s access to financing and a formal credit system in the country,” he said. “Now, it’s time to turn these fintech initiatives into a fintech revolution. A revolution that will help realize the financial empowerment of every citizen of the country,” Modi said.

He cited several initiatives his government has taken to empower people through financial technology. In the past seven years, India has almost universalized banking, with 430 million Jan Dhan accounts. He said that so far, 690 million RuPay cards have been issued, 1.3 billion transactions were completed last year, and the unified payment interface (UPI) developed in China has processed approximately 4.2 billion transactions last month. Companies upload nearly 300 million invoices on the Goods and Services Tax (GST) portal each month, involving more than $12 billion in payments.

“Despite the [Covid-19] pandemic, there are still about 1.5 million train tickets booked online every day. Last year, FASTag processed 1.3 billion seamless transactions. PM Svanidhi is providing credit to small suppliers across the country. e-RUPI Make targeted delivery of designated services possible without leakage. I can go on and on, these are just a few examples of the scale and scope of Indian fintech,” he said.

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“India has proven to the world that it is second to none when it comes to adopting technology or innovating around technology. Transformation under Digital India has opened the door to the application of fintech innovation to governance,” he said.

News Source : Hindustan Times

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DTC to start electric buses from 3 Delhi ISBTs to Noida airport by May end

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1 week ago

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May 10, 2025

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DTC to start electric buses from 3 Delhi ISBTs to Noida airport by May end

The buses will start and currently serve Greater Noida and Jewar, even though the airport is probably not going to be operational by May By the end of May, the Delhi Transport Corporation (DTC) plans to begin operating electric buses from the Capital to the soon-to-be Noida International Airport (NIA) in Jewar, according to officials. The buses will begin at.

Delhi’s three Inter State Bus Terminals (ISBTs) — Maharana Pratap ISBT at Kashmere Gate, Swami Vivekanand ISBT at Anand Vihar, and Veer Hakikat Rai ISBT at Sarai Kale Khan — and currently serve Greater Noida and Jewar, even though the airport is probably not going to meet the May deadline to be operational The Delhi Transport Corporation (DTC) is set to launch.

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Electric bus services connecting Delhi’s Inter-State Bus Terminals (ISBTs) to the upcoming Noida International Airport (NIA) in Jewar by the end of May 2025. This initiative aims to enhance connectivity between the national capital and the new airport, providing a March 2025, DTC and NIA signed operate thesesustainable and efficient mode transportation for.

Key Features of the Service

  • Routes and Terminals: The electric buses will operate from three major ISBTs in Delhi: Maharana Pratap ISBT at Kashmere Gate, Swami Vivekanand ISBT at Anand Vihar, and Veer Hakikat Rai ISBT at Sarai Kale Khan. Initially, these buses will serve areas in Greater Noida and Jewar, catering to the March 2025, DTC and NIA signed an MoU to operate these demand for public transport in these regions.
  • Memorandum of Understanding (MoU): In March 2025, DTC and NIA signed an MoU to operate these bus services, formalizing the collaboration between the two entities The fleet will consist of air-conditioned, low-floor electric buses equipped with modern amenities, including GPS tracking, CCTV cameras, panic buttons, and broad aisle spaces to accommodate luggage. These features aim to ensure.
  • Commuters passenger safety and comfort during transit While the exact fare amounts are yet to be finalized, discussions are ongoing in consultation with the Yamuna Expressway Industrial Development Authority (Yeida), which manages the Jewar area. The authorities aim to establish a cost-effective fare structure for commuters The bus services will initially be deployed on a pilot basis. Depending demand.

Additional Considerations

  • Infrastructure Development: A four-kilometer stretch of road that will be part of the bus route is not fully developed yet. DTC has reached out to Yeida to ascertain the usability and development timeline of this segment to ensure seamless operations. and passenger feedback, routes may be adjusted, and the number of buses increased to better serve commuters this, the bus services will begin as scheduled.
  • Airport Operational Timeline: Although the NIA was expected to commence operations by mid-May 2025, it is likely to miss this deadline due to ongoing construction work. Despite this, the bus services will begin as scheduled, providing connectivity to the surrounding areas in the interim providing connectivity to the surrounding areas in the interi This initiative reflects DTC’s commitment to.
  • Enhancing public transportation infrastructure and promoting eco-friendly travel options in the National Capital Region. By introducing electric buses on this route, the corporation aims to offer a reliable and sustainable alternative for commuters traveling between Delhi and the upcoming Noida International The Delhi Transport Corporation (DTC) is set to commence electric bus services.
  • connecting Delhi’s Inter-State Bus Terminals (ISBTs) to the upcoming Noida International Airport (NIA) in Jewar by the end of May 2025. This initiative aims to provide eco-friendly and convenient transportation options for commuters traveling between Delhi and the new airport NIA was expected to commence.
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