#ANINews FM Sitharaman launches forex currency settlement system,calls for responsible AI-driven fintech

FM Sitharaman launches forex currency settlement system,calls for responsible AI-driven fintech
Union Finance Minister Nirmala Sitharaman announced the launch of the Foreign Currency Settlement System (FCSS) at Gujarat International Finance Tec-City (GIFT City) on Tuesday.
Speaking at the inaugural speech at Global Fintech Fest (GFF) 2025 in Mumbai, Sitharaman said it is a significant step in India’s journey toward becoming a global financial and fintech hub.
The system will allow real-time settlement of foreign currency transactions within the International Financial Services Centre (IFSC), reducing the existing lag of up to 48 hours, she added.

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