Mumbai Fintech Hub (MFH) is an initiative by Government of Maharashtra to execute the Maharashtra fintech policy and promote FinTech ecosystem in the state. Government of Maharashtra is the first state in India to create a Fintech policy (announced in Feb 2018) to support the sector with a vision to make Mumbai a Global Fintech Hub. The key stakeholders in this journey include Financial institutes, regulators, government, technology partners, academic institutes, research labs, incubators/accelerators, industry bodies, and market influencers.
Directorate of Information Technology (DIT) studied the best practices in the FinTech sector with a focus on government and regulatory support to formulate the FinTech policy. Based on the study and given the vast potential of FinTech in the banking, financial Services & industries sector, the Cabinet has approved the first ever FinTech State policy with a view to promote the FinTech sector in the State of Maharashtra.
Click here for State Policy