Singapore and India Establish Fintech Working Group

The Department of Economic Affairs (DEA), Government of India, and the Monetary Authority of Singapore (MAS) have signed a memorandum of understanding (MoU) to strengthen cooperation in financial innovation between Singapore and India, through the establishment of a Joint Working Group (JWG). The JWG will be co-chaired by MAS Deputy Managing Director Jacqueline Loh and India Department of Financial Services (DFS) Additional Secretary Ravi Mital.

The JWG will include representatives from the DEA, Ministry of Electronics and Information Technology, Union Identification Authority of India, Reserve Bank of India, Stock Exchange Board of India, Insurance Regulatory Development Authority of India, and the Ministry of External Affairs of India. Representatives from Singapore’s agencies will include the Smart Nation and Digital Government Office, Government Technology Agency, Enterprise Singapore and Ministry of Foreign Affairs.