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TMI BlogThe Government constitutes a Steering Committee on Fintech related issues to consider various issues relating to development of Fintech space in India with a view to make Fintech related regulations more flexible and generate enhanced entrepreneurship in an area where India has distinctive comparative strengths vis-à-vis other emerging economies;X X X X Extracts X X X X X X X X Extracts X X X X ..... The Government constitutes a Steering Committee on Fintech related issues to consider various issues relating to development of Fintech space in India with a view to make Fintech related regulations more flexible and generate enhanced entrepreneurship in an area where India has distinctive comparative strengths vis-à-vis other emerging economies; - News and Press Release Dated:- 5-3-2018 - News - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The Government constitutes a Steering Committee on Fintech related issues to consider various issues relating to development of Fintech space in India with a view to make Fintech related regulations more flexible and generate enhanced entrepreneurship in an area where India has distinctive comparative strengths vis- -vis other emerging economies; To focus on how Fintech can be leveraged to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... enhance financial inclusion of MSMEs. In pursuance to the announcement made by the Union Minister of Finance and Corporate Affairs, Shri ArunJaitleyin his Budget Speech 2018-19(Para 75), a Steering Committeehas been constituted under the Chairmanship of Secretary, Department of Economic Affairs(DEA), Ministry of Finance. Objective : - To consider various issues relating to development of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Fintech space in India with a view to make Fintech related regulations more flexible and generate enhanced entrepreneurship in an area where India has distinctive comparative strengths vis- -vis other emerging economies. The Steering Committee will also focus on how Fintech can be leveraged to enhance financial inclusion of MSMEs. Composition: - TheSteering Committeewould comprise of the foll ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... owing :- Sl. No. Designation Department Remarks (i) Secretary Department of Economic Affairs (DEA) Chairman (ii) Secretary Ministry of Electronics and Information Technology (MeitY) Member ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (iii) Secretary Department of Financial Services (DFS) Member (iv) Secretary Ministry of Micro, Small and Medium Enterprises (MSME) Member (v) Chairperson Central Board of Excise and Customs (CBEC) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Member (vi) Chief Executive Officer Unique Identification Authority of India Member (vii) Deputy Governor (DG) Reserve Bank of India Member (viii) Joint Secretary (Investment) Department of Economic Affairs (DEA ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) Convener The Steering Committee may also invite participants from the private sector. Terms of Reference : The Terms of Reference of the Steering Committee will be as follows:- (i) To take stock of the developments in the Fintech sector globally, and in India, and arrive at a common shared understanding of the current state of play; (ii) To analys ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e critically the regulatory regime spread over different entities that has impacted the growth of Fintech in India; (iii) To consider how Fintech can be leveraged in critical sectors of the economy, especially financing of MSMEs, affordable housing, delivery of e-services to vulnerable sections, provision of land record management and other government services, access and adoption of digital ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... payments, and to study the developments in these areas; (iv) To develop regulatory interventions, e.g., regulatory sandbox model, that will enhance the role of Fintech in the sectors identified for focused interventions; (v) To promote ease of doing business in the Fintech sector; (vi) To consider means of using data with GSTN and data residing with information utilities such as Cre ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dit Information Companies (CICs),etc in open domain with a view to developing applications for financing of MSMEs. (vii) To work with Government agencies like UIDAI to explore creation and use of unique enterprise identification number; (viii) To consider international cooperation opportunities in Fintech with countries like Singapore, UK, China, etc. - News - Press release - PIB Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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