*"Fintech Sector to Hit $400 Billion by 2028-29: FM Nirmala Sitharaman"* *Key Points:* - *Fintech Market Growth:* India's fintech sector is expected to grow from $110 billion to over $400 billion by 2028-29, reflecting an anticipated annual growth of over 30%. - *Challenges:* Finance Minister Nirmala Sitharaman urged fintech startups to tackle challenges like cyber fraud, deepfakes, and impersonation scams to ensure secure digital payments. - *Rural India Opportunity:* She emphasized rural India as a significant growth opportunity, encouraging fintech companies to focus on innovation that drives financial inclusion in these areas. - *Global Expansion:* Sitharaman encouraged Indian fintechs to expand globally, leveraging India's expertise in digital payments and fintech innovations. - *Government Support:* The government will continue to support this growth through infrastructure, regulatory aid, and policy initiatives. *Quote:* "Together, let us Innovate, Include, and Inspire. Innovate new solutions fearlessly, include every citizen in your vision, and inspire the world with what India can achieve." - Nirmala Sitharaman *Event:* The Finance Minister made these remarks while addressing the Digital Payments Awards 2025 ceremony in New Delhi, commending fintech companies for accelerating financial inclusion and extending payment systems to India's remote regions. *Impact:* India's fintech innovations have the potential to become global public goods, benefiting other emerging and developed economies. The sector's growth is expected to have a significant impact on the country's economy and financial inclusion efforts. "Share this update with others and stay updated by following the WhatsApp channel!"