India pole vaults to top 5 nations in FinTech, says Amitabh Kant. Guess how much was invested in 2017

The number of deals happening in the financial technology space of India has witnessed a sharp increase from 2014 onwards. In 2017 itself, the sector saw an investment of $3 billion coming in, tweeted NITI Aayog CEO. A few days back, Amitabh Kant had said that low cost Internet based transactions and business efficiency due to technology advancements are expected to kill physical banks in next 5-6 years. He also said that with proliferation of mobile phones and Internet based transaction, it will be easy for financial technology firm to do analysis and provide loans to person who requires it and has good credit history. This is forcing Indian banks to transform themselves riding on wave of Fintech.

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