FM nudges fintech cos for more engagement with govt

Mumbai: Union Finance Minister Nirmala Sitharaman on Tuesday nudged the fintech industry to break the distance barrier and have more engagements with the government and its agencies to enhance trust. Sitharaman was replying to a question by Kris Gopalakrishnan, Chairman, Global Fintech Fest (GFF) 2022 Advisory Board, who wanted to know how to ensure trust among industry, regulators, and the government.

"I don't want to sound cliche, but distance brings distrust. So, cut the distance down, have greater engagement with the government," the minister said. Sitharaman further said everyone in the government, whether the Prime Minister, ministers or think-tank NITI Aayog, is constantly available for engagement, discussions, and exchange of ideas.

"So greater the engagement, greater the trust, which gets built up. So I think one sure shot way of retaining and building on trust is to keep the constant engagement going," she said.