“Someone Like Me... A Chaiwala": PM Modi's Dig At "Self-Proclaimed Experts" At Fintech Fest - 10 Quotes

Addressing the Global Fintech Fest (GFF) 2024 in Mumbai, Prime Minister Narendra Modi took a swipe at sceptics who doubted India’s fintech revolution. Speaking at the Jio World Convention Centre, he highlighted the nation’s significant progress over the past decade, especially in digital finance and women’s empowerment. Modi emphasised the role of technology in transforming India’s economy while also addressing the challenges of cyber fraud and digital literacy. His remarks touched on the growth of fintech startups, investments, and the wide-reaching impact of government initiatives like the Jan-Dhan Yojana.

PM Modi At Fintech Fest: Top Quotes

1. “I have faith in our fintech ecosystem that it will provide quality life to Indians.”
2. “When Saraswati Maa, the goddess of knowledge, was imparting wisdom, some self-proclaimed experts were already casting doubts! They would question how a fintech revolution could occur… they would be even asking someone like me, a Chaiwala! Yet, in just a decade, India has witnessed a remarkable transformation.”
3. “In the last 10 years, more than USD 31 bn have been invested in the fintech space; fintech startups have grown by 500 per cent.”
4. “Jan Dhan accounts have joined the women’s Self Help Groups to banking. 10 crore rural women are reaping its benefits. Jan Dhan’s programme has laid a strong foundation for women’s financial empowerment…”
5. “…People in Parliament used to ask that there are not enough branches in the country, banks are not available in the villages, internet services are not available… How will there be a fintech revolution?… Within a decade, broadband users increased from 60 million to 940 million…”
6. “There was a time when people used to get amazed by our cultural diversity. Now, people come to India and are astonished by our fintech diversity too! From landing at the airport to experiencing street food and shopping, India’s fintech revolution is visible everywhere.”
7. “…It is the festive season in India, there is also festivity in the economy and markets.”
8. “In the last 10 years, there has been an investment of more than USD 31 billion. In the last 10 years, there has been an increase of 500 per cent in fintech startups. Cheap mobiles, data and zero-balance accounts under the (Pradhan Mantri) Jan-Dhan Yojana (PMJDY) have done wonders in the nation.”
9. “I have certain expectations from regulators; we need to take big steps to stop cyber frauds, increase digital literacy.”
10. “The Open Network for Digital Commerce (ONDC) is a prime example, democratising online shopping, making it inclusive, and bridging the gap for small enterprises to access vast opportunities.”