RBI’s guidelines on tokenization of CoF

While Fintech startups have helped in improving financial inclusion, the instances of financial fraud have also increased. In this regard, discuss the opportunities and challenges faced by the Fintech sector in India. (250 Words)

Approach:

• In the introduction, provide a brief overview about the fintech sector in India, its major products like UPI, payment gateways etc.
• Enumerate the benefits of the fintech revolution in India, providing data to justify your points.
• Enumerate the challenges the sector faces, highlighting more about the fintech frauds and the negative impact it has.
• List the steps taken by Government to promote the sector and reduce fraud
• Way Forward and Conclusion