New Delhi, Feb. 23 -- The Asian Development Bank (ADB) has greenlit a USD 23 million loan to foster the growth of fintech education, research, and innovation at the Gujarat International Finance Tec-City (GIFT) in India.

According to ADB, Gujarat International Finance Tec-City (GIFT), a state-owned enterprise, serves as a cornerstone for nurturing fintech ecosystems and financial services within India.

Positioned as the country's premier international financial services center, GIFT has emerged as a burgeoning hub for fostering and nurturing local startups, catalyzing innovation, and propelling economic growth.

ADB Economist Kanupriya Gupta emphasized the transformative impact of India's fintech industry on business operations, economi...