Andhra Pradesh, Singapore’s MAS pact for financial services

Andhra Pradesh government today signed an agreement with the Monetary Authority of Singapore (MAS) to promote innovation in financial services in their respective markets.

Under the FinTech Cooperation Agreement, Monetary Authority of Singapore and the state government will explore joint innovation projects on technologies such as digital payments and block-chain, collaborate on development of education programmes and curricula on fintech (financial technologies), an official release said.

The Singapore’s central bank (MAS) and the Andhra Pradesh government have also agreed to discuss emerging FinTech trends and exchange views on regulatory issues related to innovations in financial services. The agreement was signed in the presence of Chief Minister N Chandrababu Naidu at his residence in Undavalli.

MAS Chief FinTech Officer, Sopnendu Mohanty and Information Technology Adviser to Chief Minister J A Chowdary were also present on the occasion.

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