Sitharaman Applauds Pine Labs’ Fintech Innovations in Push for Viksit Bharat
Finance Minister Nirmala Sitharaman’s recent visit to Pine Labs’ Noida headquarters underscored the government’s continued push to strengthen India’s digital public infrastructure and advance financial inclusion. During the visit, Sitharaman observed demonstrations of the fintech company’s latest innovations, including solutions based on prepaid instruments, the Account Aggregator (AA) framework, and digital tools aimed at enhancing the Public Distribution System (PDS) and other government schemes.
The minister interacted with Pine Labs employees and stakeholders, discussing how digital payment systems are transforming small businesses, particularly in tier-2 and tier-3 cities. One such story came from Kuldeep Chauhan, a former mango farmer turned mobile shop owner in Noida. He shared how Pine Labs’ digital payment solutions have helped him scale his business and reach more customers.
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Sitharaman lauded the role of India’s fintech ecosystem in delivering seamless and inclusive financial services, stating that such innovations are key to the country’s economic growth and to achieving the government’s vision of ‘Viksit Bharat’ by 2047.
Her visit also highlighted the significance of public-private partnerships in accelerating India’s digital transformation. Pine Labs CEO Amrish Rau welcomed the minister and called the meeting an opportunity to exchange ideas, address industry challenges, and explore scalable solutions for economic advancement.
The government’s focus on building strong digital infrastructure aligns with the G20 task force recommendations, which advocate for inclusive, adaptable digital models that ensure data sovereignty and improved service delivery.
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By directly engaging with fintech leaders like Pine Labs, the government is reinforcing its commitment to nurturing a fintech-friendly environment that empowers citizens and drives inclusive growth.
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