India leaders urge fintech focus on inclusion and trust

At the Global Fintech Fest 2026 in Mumbai, Indian officials emphasized the need for a digital financial ecosystem centered on inclusion and trust. Union Minister Jyotiraditya Scindia highlighted India’s digital transformation, noting that internet access has grown from 25 crore to nearly 100 crore people over the last decade. He identified a new ‘digital trinity’ of connectivity, compute, and trust as the foundation for the next phase of fintech, noting that 5G coverage now reaches 99.9 per cent of India's districts.

RBI Governor Sanjay Malhotra urged the fintech sector to utilize artificial intelligence, tokenization, and quantum computing to reach underserved populations. He noted that while digital payments have been normalized, the industry must now focus on the ‘last mile,’ providing micro-insurance, small pensions, and credit to women entrepreneurs, MSMEs, and farmers in rural areas. During the event, the Governor also launched UPI Tap & Pay, the AI-powered MyUPI platform, and a framework for corporate bond tokenization.