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PM Modi in Singapore: 'Financial inclusion a reality for 1.3 billion Indians'

Prime Minister Narendra Modi, who is on a two-day visit to Singapore, delivered the keynote address at the Singapore Fintech Festival.

Edited by: India TV News Desk, Singapore [ Updated: November 14, 2018 8:22 IST ]
PM Modi delivering keynote address at Fintech Summit,

PM Modi delivering keynote address at Fintech Summit, Singapore

Highlighting that India is a nation of diverse circumstances and challenges, Prime Minister Narendra Modi on Wednesday said that financial inclusion has become a reality for 1.3 billion Indians. 

Addressing the keynote address at the at the Singapore Fintech Festival, PM Modi stressed that digital technology is introducing transparency and eliminating corruption.

"At no time in history were we blessed with so many possibilities: To make opportunities and prosperity a reality in a lifetime for billions. To make the world more humane and equal – between rich and poor, between cities and villages, between hopes and achievements," PM Modi said.  

WATCH: What PM Modi said at Singapore Fintech Festival

PM Modi speech at Fintech Festival, Singapore: Highlights

# At no time in history were we blessed with so many possibilities: To make opportunities and prosperity a reality in a lifetime for billions. To make the world more humane and equal – between rich and poor, between cities and villages, between hopes and achievements

We see inspiring stories of extraordinary innovation changing ordinary lives. But, there is much to be done. Our focus should be on सर्वोदय through अन्तयोदय

Financial inclusion has become a reality for 1.3 billion Indians.

# There is an explosion of fintech innovation and enterprise in India. I say this to all the fintech companies and startups – India is your best destination.

# Digital technology is also introducing transparency and eliminating corruption through innovation such as the Government e Marketplace.

#  Rapidly rising digital transactions in India powered by Rupay & BHIM. Today, 128 banks in India are connected to UPI. Transactions on UPI grew 1500 times in the last 24 months. Every month, the value of transaction is growing by over 30 per cent.

India is a nation of diverse circumstances and challenges. Our solutions must also be diverse. Our digitization is a success because our payment products cater to everyone

My govt came to office in  2014 with a mission of inclusive development that would change the lives of every citizen,even the weakest in the remotest village.That mission needed a solid foundation of financial inclusion for all-a task that wasn't easy in a country of India's size.

We are in an age of a historic transition brought about by technology.  The character of the global economy is changing. Technology is defining competitiveness and power in the new world. And it is creating boundless opportunities to transform lives.

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