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Government constitutes a Steering Committee on Fintech related issues

In pursuance to the announcement made by the Union Minister of Finance and Corporate Affairs, Shri Arun Jaitley in his Budget Speech 2018-19 (Para 75), a Steering Committee has been constituted under the Chairmanship of Secretary, Department of Economic Affairs (DEA), Ministry of Finance.
The objective of this committee is to consider various issues relating to development of fintech space in India with a view to make fintech related regulations more flexible and generate enhanced entrepreneurship in an area where India has distinctive comparative strengths vis-vis other emerging economies. The Steering Committee will also focus on how fintech can be leveraged to enhance financial inclusion of MSMEs.
The committee will be headed by Economic Affairs Secretary. The other members of the high level committee would include; Secretary, Ministry of Electronics and Information Technology (MeitY), Secretary, Financial Services, Secretary, Ministry of Micro, Small and Medium Enterprises (MSME), Chairperson, Central Board of Excise and Customs (CBEC). Besides, the CEO of the Unique Identification Authority of India and Deputy Governor of RBI would be part of this panel. Joint Secretary (Investment) in Economic Affairs Department would be the convener of the panel.(Updated on March 5th, 2018)


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