{"id":10030,"date":"2021-02-09T14:24:46","date_gmt":"2021-02-09T12:24:46","guid":{"rendered":"https:\/\/www.dazzlepop.net\/site\/?p=10030"},"modified":"2021-02-09T14:24:49","modified_gmt":"2021-02-09T12:24:49","slug":"key-takeaways-for-the-fintech-sector","status":"publish","type":"post","link":"https:\/\/www.dazzlepop.net\/site\/key-takeaways-for-the-fintech-sector\/","title":{"rendered":"Key Takeaways For the Fintech Sector"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"150\" src=\"https:\/\/assets.entrepreneur.com\/content\/3x2\/2000\/1612767183-money-transfer-3588301-1920.jpg?width=700&amp;crop=2:1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Key Takeaways For the Fintech Sector\" title=\"Key Takeaways For the Fintech Sector\" \/><\/div>\n<h3 class=\"wp-block-heading\">Key Takeaways For the Fintech Sector<\/h3>\n\n\n\n<p><a href=\"https:\/\/www.investopedia.com\/terms\/f\/fintech.asp\">Fintech<\/a> was acknowledged for the first time and this indicates that the sector plays a major role in the entire banking ecosystem today<\/p>\n\n\n\n<p>The COVID-19 outbreak has impacted\u00a0nations not just on health grounds but even more on economic grounds in an enormous way. It has adversely impacted\u00a0economies throughout the world. Considering the situation at hand, <a href=\"https:\/\/www.investopedia.com\/terms\/f\/fintech.asp\">the Union Budget 2021<\/a> seems to be a step in the right direction with a positive intent towards sustaining the economic revival that is happening. The honourable finance minister delivered the first-ever digital\u00a0Union Budget 2021, with the theme revolving around the vision of \u201cAtmaNirbhar Bharat\u201d.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.bbva.com\/wp-content\/uploads\/2020\/03\/fintech-apertura-propel-jay-1024x629.jpg\" alt=\"Key Takeaways For the Fintech Sector \" \/><\/figure>\n\n\n\n<p>The Budget has allocated a total of INR 30 lakh crore across six main pillars including health and wellbeing, infrastructure and financial capital, governance and others. COVID-19 has accelerated the speed of digital acceptance across various facets of business and life and several encouraging announcements made especially pertaining to technology sector are very welcome. Fintech was acknowledged for the first time and this indicates that the sector plays a major role in the entire banking ecosystem today. The announced budget will help sustain the economic recovery with a clear focus on growth.<\/p>\n\n\n\n<p>The few key takeaways for the fintech sector are:<\/p>\n\n\n\n<p><strong>The fintech hub at GIFT City<\/strong><\/p>\n\n\n\n<p>Developing a world-class fintech Hub at GIFT City will go a long way in stimulating, advancing and developing fintech <a href=\"https:\/\/www.dazzlepop.net\/site\/category\/startup\/\">startups<\/a>. It would help in providing a platform to the fintech firms to expand globally and will help generate employment and attract quality talent in the country.<\/p>\n\n\n\n<p><strong>INR 1,500 crore earmarked for scheme to incentivise digital payments<\/strong><br>The proposed scheme is a very positive indicator of development of a digital-first future in line with the PM\u2019s Digital India Mission. This will encourage and uplift the next generation of tech companies to step up, innovate and pioneer. With the ongoing chaos of the global pandemic, digital payments and fintech was one sector, which witnessed record highs in 2020 as a large number of people preferred to stay at home and to minimise social contact. Physical cash handling\u00a0became a concern for risk of contamination; hence the digital payments sector saw good growth in the past year. The proposed scheme will make it better and preferable.<br><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>Read more: <a href=\"http:\/\/www.entrepreneur.com\">www.entrepreneur.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways For the Fintech Sector Fintech was acknowledged for the first time and this indicates that the sector plays a major role in the entire banking ecosystem today The COVID-19 outbreak has impacted\u00a0nations not just on health grounds but even more on economic grounds in an enormous way. It has adversely impacted\u00a0economies throughout the [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":10032,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_vp_format_video_url":"","_vp_image_focal_point":[],"footnotes":""},"categories":[45],"tags":[31,519,561,238,1044,1043,608,11],"class_list":["post-10030","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business","tag-coronavirus","tag-covid-19","tag-entrepreneur","tag-financial-technology","tag-fintech","tag-pandemic","tag-startup"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Dazzlepop | Key Takeaways For the Fintech Sector<\/title>\n<meta name=\"description\" content=\"Key Takeaways For the Fintech Sector Fintech was acknowledged for the first time and this indicates that the sector plays a major 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