Growth Of Fintech Companies In India On Financial And Governance Parameters With Respect To The Changing Regulations Of The Country – A Descriptive Study

Abstract

Regulations are the backbone of every country for its economy to run smoothly. FinTech, as an industry, is growing globally, including India. There are various notable initiatives since the year 2010 undertaken by the government for the growth of this industry, which is in its nascent stages. National Payments Corporation of India (NPCI), Aadhaar, Jan DhanYojna, Goods and Service Tax (GST) are some of these initiatives. Several FinTech startups emerged in different segments such as lending (100 +), personal finance management (40+), and investment management (90+). In India, Internet users grew faster; in 2010, 7.5% of the population was using the Internet compared to 34.4% population in 2017, and it is estimated to grow from 437.4 million in 2017 to 666.4 million in 2023. This research paper explores the impact of changing regulations on FinTech as an Industry from a growth perspective.