PM Narendra Modi will speak at the Global Fintech Fest on August 30 in Mumbai.

Prime Minister Narendra Modi will probably attend the Global Fintech Fest (GFF) on August 30.

Three people with direct knowledge of the situation have stated that the prime minister will physically participate in the summit.

Top national regulators will also attend, including Madhabi Puri Buch, chief of the Securities and Exchange Board of India (Sebi), and Governor Shaktikanta Das of the Reserve Bank of India (RBI).

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The GFF, a yearly fintech conference, is taking place this year on August 28–30.

It anticipates more than 80,000 attendees and more than 800 speakers across more than 350 programs.

The three-day conference takes place at a moment when the nation’s fintech industry—which includes industries like digital payments, loans, insurance, and wealth management—is still growing.

On August 28, RBI Governor Das will give the keynote talk; the next day, Sebi Chief Buch will also be there.

Regulators, global financial services participants, banking executives, and fintech entrepreneurs will all be present at the event.

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The country’s fintech industry is expanding, which coincides with the conference.

Based on data from the Ministry of Finance, India is the third-largest fintech nation globally, with approximately 10,244 firms.

This year, the Unified Payments Interface (UPI), India’s premier real-time payments system, accomplished a significant milestone.

In the current fiscal year (FY25), the payments system, which is powered by the National Payments Corporation of India (NPCI) rails, recorded 55.66 billion transactions valued at Rs 80.79 trillion.

UPI had more than 100 billion transactions in FY24—131 billion at year’s end, up from 84 billion in FY23—for the first time.

According to statistics from market intelligence platform Tracxn, funding for fintech companies was estimated at $795 million in the first half of 2024, down from $1.93 billion in the same period the previous year.

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