How can fintech play a critical role in addressing problems that impede inclusive growth?

Q) How can fintech play a critical role in addressing problems that impede inclusive growth? (10 marks, 150 words) 

फिनटेक समावेशी विकास में बाधा डालने वाली समस्याओं के समाधान में कैसे महत्वपूर्ण भूमिका निभा सकता है?

Demand of question: This question is testing knowledge of fintech among the candidates.

Directive Word: self explanatory

Structure of the Answer:

Introduction:

Start by defining what fintech is. Also give some examples.

Body:

Start by giving challenges faced in ushering inclusive growth.

Then, give points as to how fintechs can help overcome these challenges. Give examples wherever possible.

Conclusion:

Highlight policy steps taken by the government to promote fintechs and what more needs to be done in future.

Part of Syllabus: General Studies Paper 3 (Inclusive Growth and issues arising from it)

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