Question : Recently(7 January,2021) a tri party agreement(MoU) has been signed between PNB,IIT Kanpur and FIRST to set up a Fintech Innovation Centre.What is FIRST?
(a) Foundation for Innovation & Research in Science & Technology
(b) Forum for Innovation & Research in Science & Technology
(c) Federation of Innovation & Research in Science & Technology
(d) None of the above
Answer (a)
Related facts
- Recently(7 January,2021) a tri party agreement(MoU) has been signed between PNB,IIT Kanpur and FIRST to set up a Fintech Innovation Centre.
FIRST
- FIRST(Foundation For Innovation & Research In Science & Technology) was incorporated on 27 February, 2018 and is located in Kanpur(I.I.T KANPUR), Uttar Pradesh.
It is classified as a not for profit company.
Fintech Innovation Centre(FIC)
- FIC will act as a vehicle to research and develop technological solutions to address challenges and explore opportunities in the BFSI space.
- PNB intends to create new products or solutions with technological innovations by creating a FIC involving IITK’s experienced faculty members with the help of FIRST.
- The FIC will be supported by a holistic ecosystem of financial institutions, academia, VC(Venture Capital) funds, technology companies and key government organisations.
- Planned focus areas include Fintech, Digital Lending, Payments, Cyber Security, etc.
By — Panakaj Pandey.