FinTech Policy Incentives

To give an impetus to the FinTech sector in Mumbai, the Government of Maharashtra has approved the policy incentives that will apply to all FinTech start-ups.
FinTech start-ups are establishments that use technology and innovative business models in delivering of financial products and services and having annual turnover up to ₹25 Crores. The FinTech start-ups must have a registered office in the State of Maharashtra to be eligible to avail the benefits under the policy. The incentives provided under this policy will be over and above any other incentives that maybe applicable under the State's Start up and Innovation Policy. Click here to access the Fintech policy.

Development of Incubation Space for accelerators and start-ups
The Government of Maharashtra will establish physical infrastructure for providing end-to-end support to all its ecosystem players. This will be in the form of a co-working space of minimum 10,000 sq.ft.
Creation of FinTech Corpus Fund
The Government of Maharashtra will create a Fintech corpus fund of Rs. 250 crore over the next three years to fund the fiscal incentives to FinTech start-ups and operational expenses of Industry Sandbox and the Global FinTech hub.
Industry sandbox in Global FinTech hub
An Industry sandbox will provide a controlled and legal testing solution space where start-ups /banks/technology companies can test innovative products, services, business models and delivery mechanisms in the real testing environment.

Fiscal Incentives

Note: Government of Maharashtra will provide preference to early stage startups (up to 3 years from date of incorporation) and FinTech startups with women founders to avail
the above incentives.