Finch Incentive Scheme | Daily UPSC Current Affairs 2023

👉Aim: To promote the establishment of world-class fintech centres at GIFT city (Gujarat)
👉Incentive: grants for start-ups, proof of concept, sandbox, green FinTech, Accelerator etc.
👉FinTech, or financial technology, is a term used to describe any new technology that aims to improve and automate the use and delivery of financial services.
👉What is an IFSC?
An IFSC caters to customers outside the jurisdiction of the domestic economy.
👉Such centres deal with flows of finance, financial products and services across borders.
👉Currently, GIFT-IFSC is the maiden international financial services centre in India.

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