Andhra Pradesh government has signed a FinTech Cooperation agreement with Monetary Authority of Singapore (MAS) to promote innovation financial services in their respective markets.
The agreement was signed in the presence of Chief Minister N Chandrababu Naidu and MAS Chief FinTech Officer, Sopnendu Mohanty.
Under the agreement
MAS and Andhra Pradesh government will explore joint innovation projects on technologies such as digital payments and blockchain.
They will also collaborate on the development of education programmes and curricula on fintech (financial technologies).
They also agreed to discuss emerging FinTech trends and exchange views on regulatory issues related to innovations in financial services.
Both signatory parties would enable creation of a niche, first-of-its-kind ecosystem in Visakhapatnam that was emerging as the ‘FinTech Valley of India’.
The knowledge exchange will not only help to create high-quality job opportunities in FinTech but also help provide market access for implementation in both countries.
Current Affairs 28th October, 2016 Current Affairs Round Up Bullet Points, September, 2016 Current Affairs Round Up Bullet Points, August, 2016
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