Paytm Signs MoU with Ministry of Skill Development

NEW DELHI:
India’s leading digital ecosystem for consumers and merchants Paytm has today signed a Memorandum of Understanding with the Directorate of General Training, Ministry of Skill Development and Entrepreneurship to train 6000 individuals over a period of three years in the rapidly growing Fintech industry. This is in continuation with Paytm’s dedication to building India’s technology ecosystem and driving financial inclusion in the country.

The selected individuals will undertake a six-month program, designed by Paytm, in consultation with the DGT. It will equip the trainees with fundamentals and knowledge of the latest Fintech IoT products and financial services. The trainees will also undergo professional skills, communications, sales and pitch, and on-the-job training.

DGT is actively taking an important role in transforming the country’s youth into an industry-ready workforce. The collaboration is part of DGT’s Flexi-MoU scheme wherein industry partners provide an opportunity to the youth to acquire skills related to industries with high job potential through a ‘Learn and Earn’ approach consisting of a mix of theoretical and on-the-job training. Paytm’s focus is on creating a highly skilled pool of human resources that can contribute to the growth of the Fintech and digital payments ecosystem. Paytm will also offer employment to the eligible trainees post completion of the course.

Narendra Yadav, Senior Vice President, Paytm said, “India’s strength lies in the talent and skilled youngsters, who will play an important role in shaping the future of the country’s economy. DGT plays a key role in the vocational and craft-based training of eligible youth in the country. We look forward to a fruitful partnership with the DGT that will enhance the quality and number of trained personnel in the Fintech industry.”

Neelam Shami Rao, Director-General, DGT, said, “The growth of digital payments has been phenomenal in India and it will continue to rise further in the future. Paytm is one of the pioneers in the digital payments service industry and our focus is to leverage their expertise to train the country’s youth in this field.”