Cabinet approves Memorandum of Understanding between India and Singapore on setting up of a joint working group on FinTech
New Delhi, Oct 24 (IBNS): The Union Cabinet chaired by Prime Minister Narendra Modi has given its ex-post facto approval to the Memorandum of Understanding (MoU) signed between India and Singapore in June, 2018 on the constitution of a Joint Working Group (JWG) on FinTech.
The Joint Working Group on FinTech between India and Singapore has been constituted for cooperation in the area of FinTech between the two countries, read a government statement.
Collaboration of India with Singapore will benefit both India and Singapore to excel in the fields of Development of Application Programming Interfaces (APls), Regulatory Sandbox, Security in payment and digital cash flow, integration of RuPay-Network for Electronic Transfers (NETS), UPI-FAST payment link, AADHAR Stack and e-KYC in ASEAN region and cooperation on regulations, solutions for financial markets and insurance sector and sand box models.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
