ENA Sectors 2024-03-15 16:26:30 <p><span style="font-size:14px"><strong>New Delhi, Mar 15 (KNN)</strong> The Government of India, in collaboration with the Asian Development Bank (ADB), has taken a significant step towards enhancing access to quality fintech education, research, and innovation.</span></p> <p><span style="font-size:14px">A USD 23 million loan agreement was signed today to propel the development of the Fintech Institute at Gujarat International Finance Tec-City (GIFT-City).</span></p> <p><span style="font-size:14px">The agreement, signed by Juhi Mukherjee, Department of Economic Affairs, Ministry of Finance, representing the Government of India, and Rajesh Vasudevan from ADB's India Resident Mission, underscores a joint commitment to fostering India's financial services and fintech ecosystem.</span></p> <p><span style="font-size:14px">GIFT City, an ambitious initiative of the Indian and Gujarat State governments, aims to become a global hub for financial services and technology.</span></p> <p><span style="font-size:14px">The newly funded project will see the establishment of an International Fintech Institute (IFI) within GIFT City.</span></p> <p><span style="font-size:14px">Mukherjee emphasised that the IFI will play a pivotal role in strengthening fintech education, supporting startups, and driving research and innovation.</span></p> <p><span style="font-size:14px">Vasudevan highlighted the project's focus on market-driven fintech skill development and fostering an environment conducive to private sector investment.</span></p> <p><span style="font-size:14px">He emphasised the importance of collaboration between industry, skills development institutes, and development partners to promote holistic growth in India's fintech ecosystem.</span></p> <p><span style="font-size:14px">In partnership with globally reputed institutes and universities, the IFI will offer industry-aligned fintech training programs of international standards.</span></p> <p><span style="font-size:14px">It will prioritise supporting startups, particularly those led by women, through incubation and acceleration services.</span></p> <p><span style="font-size:14px">Additionally, collaborations with industry stakeholders and venture capital funds will be instrumental in nurturing the growth of fintech startups.</span></p> <p><span style="font-size:14px">These initiatives are poised to create a ripple effect, enhancing employment opportunities, workforce competitiveness, and productivity, especially in new and green technologies.</span></p> <p><span style="font-size:14px">The ADB-supported program will further fuel research in climate fintech, regulatory technology, social inclusion, and gender equality in finance.</span></p> <p><span style="font-size:14px">It aims to establish a state fintech readiness index and develop innovative solutions to emerging technologies.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 37058 https://knnindia.co.in/news/newsdetails/sectors/india-adb-partner-to-boost-fintech-education-innovation-in-gift-city 2024-03-15 16:26:30 knnindia.co.in