RBI Governor Calls For Fintech To Double Down On Trust And Inclusion

RBI Governor Sanjay Malhotra addressed the Global Fintech Fest (GFF) 2026 in Mumbai, urging fintech companies to prioritize AI, tokenisation, and quantum computing to enhance financial inclusion while building consumer trust. India's digital finance transformation, largely driven by public-private partnerships, has normalized digital payments nationwide, but the next phase must focus on extending financial services to underserved customers and businesses.

Malhotra emphasized that fintech companies can help bridge this gap by developing smaller-ticket financial products and expanding access to credit, insurance, and pension products. The governor stressed that fintech growth must be built on trust, data protection, cybersecurity, and operational resilience. He outlined four specific objectives for fintechs: consumer service, meeting unmet financial needs, enhancing operational efficiency, and curbing financial frauds.

Malhotra also highlighted key moves for the financial sector to build trust, including managing risks in AI adoption, demonstrating systemic responsibility, and engaging transparently with regulators. The RBI governor noted that Indian fintechs can serve as a model for global financial inclusion by addressing similar challenges faced by emerging economies.

The RBI is working towards this by partnering with the fintech sector and unveiling a framework for tokenization of corporate bonds, as well as launching UPI Tap & Pay and the AI-powered MyUPI platform.