Global Fintech Fest 2024: Shaping Finance's Future

The Global Fintech Fest 2024, organized by the Payments Council of India, National Payments Corporation of India, and Fintech Convergence Council, will take place at the Jio World Convention Centre in Mumbai.

Global Fintech Fest 2024 Overview

Venue: Jio World Convention Centre in Mumbai between 28 to 30 August.
Theme: "Blueprint for the Next Decade of Finance: Responsible AI | Inclusive | Resilient"
Attendance: 800 experts including industry leaders, policymakers, regulators, bankers, and academics
Organized by: Payments Council of India (PCI), National Payments Corporation of India (NPCI), and Fintech Convergence Council (FCC)

Key features:

- Over 300 sessions including keynotes, panel discussions, and garage sessions
- GFF Expo showcasing cutting-edge fintech innovations
- Global Fintech Awards (GFA) recognizing exceptional contributions in fintech
Prime Minister Narendra Modi to speak at a special session highlighting fintech innovations
Industry growth: PM Modi noted $31 billion investment in fintech over the last 10 years, with 500% growth in startups

Fintech Industry Trends and Challenges

Rapid growth outpacing talent availability
G Padmanabhan (former RBI executive director) praised India's fintech space as best for investments due to:
- Available talent pool
- Innovation capacity
- Robust regulations

Key drivers of fintech growth in India:

- Cheap data
- Mobile phone proliferation
- Zero balance Jan Dhan bank accounts

Challenges:

- Hiring employable talent in a competitive market
- Keeping pace with rapid industry development

Focus areas:

- Digital payments
- Blockchain technology
- Financial inclusion
Emphasis on collaboration between fintech companies and traditional financial institutions

PM Modi's Additional Initiatives

Vadhvan Port Development:

- Location: Palghar, near Dahanu town
- Cost: ₹76,000 crores
- Purpose: Boost India's trade by improving access to international shipping routes

Fisheries Projects:

- 218 projects with a combined value of ₹1,560 crores
- Includes building fishing harbours and Integrated Aquaparks
- Introduction of new technologies like Recirculatory Aquaculture Systems and Biofloc

Vessel Communication and Support System:

- Developed by ISRO
- Cost: ₹360 crores
- Installation of one lakh transponders on motorized fishing boats across 13 coastal states and union territories
- Aim: Improve communication and efficiency for fishermen

SCO Summit China 2025

The 2025 Shanghai Cooperation Organisation (SCO) Summit China hosted by China, brought together member countries to discuss regional development, technological innovation, and educational collabor

Mineral Security India Japan MoC

In a significant step toward reinforcing their strategic partnership, India and Japan have signed a Memorandum of Cooperation (MoC) focused on critical minerals, a move that has far-reaching impli

India Japan Summit 2025

At a time of rising global uncertainty, the India-Japan Summit 2025 emerged as a landmark event, reaffirming the deep-rooted friendship between India and Japan. During Prime Minister Narendra Modi&rsq

Digital Detox Education for Students

In a landmark decision to tackle the growing concerns of social media addiction among students, South Korea has introduced a new law promoting Digital Detox Education by banning the use of mobile

Inga Ruginiene: New Prime Minister

In a landmark development in Lithuanian politics, Inga Ruginiene's launch of her leadership has been officially approved by the Lithuanian parliament, making her the new Prime Minister of Lith

IMD Smart City Rankings 2025

The IMD Smart City Rankings 2025, released by the International Institute for Management Development (IMD), highlights how cities across the globe are leveraging technology, infrastructure, and go

Gaza Humanitarian Crisis 2025

The Gaza humanitarian crisis continues to be a pressing issue in 2025, attracting global attention due to its severe impact on millions of people living in the region. For SSC aspirants, understan

Iran Missile Drill 2025

In a recent show of strategic strength, Iran conducted a large-scale missile drill titled “Sustainable Power 1404” in the northern Indian Ocean and the Gulf of Oman. This two-day exerc

Surya AI of NASA Explained

NASA has recently launched Surya AI of NASA, an advanced artificial intelligence model designed to transform space weather forecasting. Developed in collaboration with IBM and trained on nine year

Iran Military Drill in Indian Ocean

In a significant demonstration of military strength, Iran's Military Drill in the Indian Ocean titled “Sustainable Power 1404” was conducted in the northern Indian Ocean and the Gulf o