India’s fintech adoption rate at 87% as compared to 64% globally: FM
Finance Minister Nirmala Sitharaman on Tuesday said there should be no compromise on data privacy and safeguard of client data with an increasing number of Indians now using digital mode of payment.
Addressing the fintech industry, the minister said the value of digital transactions jumped to Rs 6 lakh crore in January-August 2021 from Rs 4 lakh crore and Rs 2 lakh crore in 2020 and 2019, respectively.
“Data privacy is one of the things which is very important and it is an issue on which there can be a lot of contentious views. However, basic respect for privacy…as the guiding principle is well appreciated.