Question
The $23 million loan agreement signed between India and
the Asian Development Bank (ADB) aims to establish an International Fintech Institute (IFI) in:Solution
The establishment of an International Fintech Institute in Gujarat International Finance Tec-City (GIFT-City) with a $23 million loan from ADB is a significant step towards positioning India as a global fintech hub. This initiative aims to catalyze the growth of the fintech sector, promote financial innovations, and foster talent development in this emerging field, thereby contributing to the broader goal of financial inclusion and digital empowerment.
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