Implementation of Financial Technology in India and its Challenges

NitishNayyar

Page No: 1-06

DOI: 10.86493/VEREDAS.2024/V14I10/01

India is the fastest growing FinTech market in the world. The way the government is taking fast steps regarding digitization here, its positive effect will also be seen on the fintech sector. According to an estimate, by 2025 its size will increase 3 times in value to Rs 6.20 lakh crore. It is clear that due to various efforts of the government, the fintech sector is growing rapidly here. India is at the fore in the adoption of FinTech in emerging markets of the world. Let us tell you that the rate of acceptance of fintech in the country was 87 percent as of March 2020, while its global average was only 64 percent. The domestic fintech market was worth Rs 1.92 lakh crore in 2019. It is clear that the future of FinTech market in India is bright.

Citations

APA: NitishNayyar (2025). Implementation of Financial Technology in India and its Challenges. DOI: 10.86493/VEREDAS.2024/V14I10/01

AMA: NitishNayyar. Implementation of Financial Technology in India and its Challenges. 2025. DOI: 10.86493/VEREDAS.2024/V14I10/01

Chicago: NitishNayyar. "Implementation of Financial Technology in India and its Challenges." Published 2025. DOI: 10.86493/VEREDAS.2024/V14I10/01

IEEE: NitishNayyar, "Implementation of Financial Technology in India and its Challenges," 2025, DOI: 10.86493/VEREDAS.2024/V14I10/01

ISNAD: NitishNayyar. "Implementation of Financial Technology in India and its Challenges." DOI: 10.86493/VEREDAS.2024/V14I10/01

MLA: NitishNayyar. "Implementation of Financial Technology in India and its Challenges." 2025, DOI: 10.86493/VEREDAS.2024/V14I10/01