Summary

On November 30, 2018, the erstwhile Fintech Committee was formally established at the IAMAI by the Federal Reserve Board of Governors as the Fintech Convergence Council (FCC). This newly formed body is dedicated to representing diverse regulated financial service providers and fintech companies. To address significant challenges, the FCC has submitted its Request for Information regarding the Conflict of Interest in the Commission for the Regulation of Activities in the Finance of the India (CICs). The primary reason this request was made was to resolve overlapping responsibilities between the CIC Regulation Act, 2005 and the Digital Payment Services Act, 2016 (DPDPA). The FCC aims to ensure that the regulatory framework remains robust while fostering innovation across the financial ecosystem in the country.

Title

Fintech Convergence Council - Empowering Financial Innovation in India

Description

Fintech Convergence Council, fostering financial innovation and collaboration within the fintech ecosystem in India.

Keywords

payments, business, industry, times, mumbai, representation, lending, membership, events, payment, india, wallets, standard, data, report, money, committee

NS Lookup

A 119.18.54.145

Dates

Created 2026-02-16

Updated 2026-02-16

Summarized 2026-03-22