Maharashtra’s  Fintech Policy to support over 500 startups


Bringing cheers to the banking and fintech fraternity of the country, the Maharashtra government on Friday said it has decided to rope in about 500 well-funded start-ups that can help the government in their ongoing and upcoming projects.

“As far as the road ahead is concerned, we envisage that in near future we will at least have 500 Fintech startups which are enabled, stable, have successful sizeable funding and are going to make India and Maharashtra proud,” Kaustubh Dhavse Joint secretary and officer on special duty to Chief Minister said.

Addressing the FinTechX Conference organised by Internet and Mobile Association of India (IAMAI), Dhavse added that in coming times internet connectivity will help these companies collate more relevant data on these areas which have so far been limited to urban and semi-urban areas.

worth mentioning is last week, Maharashtra  Chief Minister Devendra Fadnavis announced the launch of country’s first state-level dedicated fintech policy which included a startup “Sandbox” on the lines of the Monetary Authority of Singapore (MAS).

Praised by Reserve Bank of India (RBI), the regulatory sandbox approach, pioneered by MAS, facilitates startups to register their applications for fintech companies and banks to work upon. It allows startups to test their technology under highly- controlled but real-time conditions, thereby assisting them in formulating effective business roadmaps.


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