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Government developing common portal for financial products and schemes: DFS Additional Secretary

Citizens may be able to access all financial products, benefits, and schemes through a single portal.

The Indian government is working towards developing a common national portal which would host various government schemes and benefits, protection products — all accessible through a single click, said Sanjeev Kaushik, the Additional Secretary in the Department of Financial Services. The Department of Financial Services has been working on a national common portal for various government schemes and benefits in which through just one single portal, the citizens can access different financial products, different protection products of insurance companies and different benefit schemes by a single click of the button — Sanjeev Kaushik, Additional Secretary in Ministry of Finance’s Department of Financial Services Kaushik who was speaking on “Leveraging Digital Power for Promoting Financial Inclusion)” at the 3rd Economic Times BFSI (ETBFSI) Conclave also said that at a later stage, the government will roll out digital loans. “Not just collateral based, but cash-based loans as well as savings products will be hosted on that single national platform,” Kaushik said. [embed]https://www.youtube.com/watch?v=VHFRLlyzZ0E[/embed] Fintech playing important role in developments: Kaushik The Additional Secretary said that fintech players have been providing the government with analytics and tools through with the former has been able to push various financial products through digital platforms. Apart from its help in the development of the common portal for financial schemes, Kaushik added that fintechs are also working with Finance Ministry in the Aspirational Districts programme, Project Kashi (cash-over-internet). For Project Kashi, he added, the government has started a pilot project in Varanasi, where it is linking account holders…

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