FinTech Experience in India 3. India has been at the forefront of this revolution. A recent global survey ranks India second in terms of FinTech adoption, with an adoption rate of 52 per cent 1. It is reported that there are as many as 1218 FinTech firms operating in India which have created a large number of jobs.
More importantly, core inflation, which takes out the impact of volatile food and energy prices on the CPI, has steadily trended downwards. The decline in core inflation suggests that the inflationary pressures of the past year were not of a permanent, demand-driven nature. This fact supports the limited and selectively tightening bias of monetary policy. Another source of optimism is the improving fiscal performance.