At a recent industry event organised by India Post Payments Bank (IPPB), Ashwini Vaishnaw, Minister for IT and Communications, said that the Indian startup ecosystem has gained global recognition and respect. To this end, Vaishnaw exhorted the startups and entrepreneurs to come out with inclusive new-age solutions to transform the lives of poor and marginalised sections.
IPPB, an entity under the Department of Posts (DoP), has launched Fincluvation – a joint initiative to collaborate with the fintech startup community to co-create and innovate solutions for financial inclusion. Under this, startups are being invited to participate, ideate, develop and market intuitive and tailored products and services that can be taken to the customers. Startups will be encouraged to develop solutions aligned to tracks such as creditisation, digitisation, and any market-led solution that can help solve a problem relevant to IPPB or DoP in serving the target customers. “Today Indian startup ecosystem is respected all over the world.
The telecom minister further termed startups as accelerators and said that the combination of their multiplier force along with the strength of a trusted post office network can yield phenomenal results for financial inclusion goals.
