BFSI (Banking, Financial Services, and Insurance) and Fintech market in India is expected to witness significant growth in the coming years. The market is expected to be driven by factors such as increasing internet penetration, rising mobile usage, government initiatives such as Digital India and Jan-Dhan Yojana, and a growing middle-class population with higher disposable income. The introduction of new technologies such as blockchain, artificial intelligence, and machine learning is also expected to revolutionize the sector, leading to more efficient operations and enhanced customer experience.
The Indian government has also laid emphasis on promoting digital transactions and reducing the use of cash, which is expected to further accelerate the growth of the BFSI and Fintech market in India.The Indian BFSI & FinTech sector has been playing a critical role in driving the growth of the Indian economy and is considered the key enabler for the vision of India becoming a USD 5 trillion economy in the coming years.