Modi Champions Fintech Reforms at Global Fintech Fest 2024

Prime Minister Narendra Modi announced significant policy changes, including the removal of the Angel Tax, to boost the fintech sector. Speaking at the Global Fintech Fest 2024, Modi emphasized the need for regulators to combat cyber fraud. He also highlighted the role of fintech in enhancing financial inclusion and transparency in India.

Prime Minister Narendra Modi announced on Friday essential policy reforms, including the elimination of the Angel Tax, to promote the fintech sector.

Addressing the Global Fintech Fest 2024, Modi applauded fintech companies for their role in democratising financial services and attracting $31 billion in investment over the past decade.

He urged regulators to take additional measures to tackle cyber fraud, which could hinder the growth of fintech and startups in the country.

(With inputs from agencies.)