Finance Minister Nirmala Sitharaman met with fintech leaders to address regulatory concerns following the Paytm Payments Bank crisis. She emphasized strict compliance with regulations while assuring support for fintech innovation.
Key points include digitizing KYC processes, facilitating dialogue with law enforcement, and monthly virtual meetings with regulators. Sitharaman underscored the importance of regulatory adherence while acknowledging fintech's significance in India's economy. The government pledges workshops and collaboration to foster regulatory alignment and industry growth.