Fintech in India: Current Status,Trends & Prospects

Abstract

Today, when the whole world is moving towards the digitalization era, Finance is no longer an unexplored territory, and as technology advances, finance, too, has its own digital world. Presently, we are talking about fintech, which is a combination of finance and technology. It has moved the whole world to new dimensions. Now people can do millions of transactions with just one click. do any kind of investment and buy financial products with the evolution of technology. Fintech offers substitutes for traditional banking and non-banking finance services. In the financial sector, fintech is a new idea. Fintech offers digital transactions that are safer for the user. Fintech services' advantages include amicable users and operating expense reductions.From digitization to digitalization India has witnessed many things. But how far have people and their country moved? That is the research part. The present study is about India’s journey towards adaptation of fintech. India has the fastest-growing fintech services globally. The Indian finance sector's routines and behaviour will alter as a result of the fintech offerings. The main domain of this study is India, with a large population accepting fintech, and how they face various challenges and opportunities.