Global Fintech Fest 2024: PM Modi to Attend August 30 Event in Mumbai

Global Fintech Fest 2024:  Prime Minister Narendra Modi is expected to join the Global Fintech Fest (GFF) on August 30. According to sources close to the event, the Prime Minister will attend the conference in person. The GFF is an annual fintech conference, with this year’s event taking place from August 28 to August 30.

Notable Attendees

The conference will also feature key figures from India’s financial sector, including Reserve Bank of India (RBI) Governor Shaktikanta Das and Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch. Governor Das will speak on August 28, and Chairperson Buch will participate the following day.

Conference Details

The Global Fintech Fest will include over 800 speakers across more than 350 sessions, drawing an expected 80,000 participants. The event will cover a wide range of topics related to the fintech industry, including digital payments, lending, insurance, and wealth management.

Growth in Fintech Sector

India’s fintech sector has been growing rapidly, with around 10,244 fintech companies, making it the third largest in the world. This growth is highlighted by the success of the Unified Payments Interface (UPI), which has seen a significant increase in transactions.

So far this financial year, UPI has handled 55.66 billion transactions totaling Rs 80.79 trillion. In the previous year, UPI exceeded 100 billion transactions for the first time, finishing at 131 billion.

Funding Trends

In the first half of 2024, funding for fintech companies in India amounted to $795 million. This is a decrease compared to $1.93 billion raised during the same period last year, as reported by the market intelligence platform Tracxn.

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The Global Fintech Fest provides a platform for showcasing the advancements and challenges in the fintech industry. With high-profile attendees and a strong focus on innovation and growth, the conference reflects the dynamic developments in India’s financial technology sector.