Deepen inclusion & think global: RBI guv to fintechs

RESERVE BANK OF India (RBI) Governor Sanjay Malhotra urged fintech firms to leverage India’s digital public infrastructure to serve the underserved, innovate responsibly,and shape global digital finance.

- FE BUREAU

In his address at the Global Fintech Fest 2025 in Mumbai on Wednesday, he emphasised designing intuitive, assistive services that eliminate the need forcustomer support,especially for vulnerable groups like senior citizens and the digitally less literate, to help India achieve its goal of becoming a developed nation by 2047.

Malhotra stressed the importance of extending the success of Unified Payments Interface (UPI) and Aadhaar Enabled Payment System (AePS) into credit delivery for small businesses and individuals, leveraging India’s three-layered digital public infrastructure of identity, payments and data. He called for embedding robust data protection and transparency into every product and service and encouraged fintechs toanchorlocallywhile engaging globally.“Profits must not come from deepening access to the privileged,” he said, “but from expanding services to the unreached.”By embracing these principles, fintechs can drive inclusive, sustainable growth and contribute meaningfully to Bharat’s digital future.

He said the countryis home to nearly 10,000 fintech entities and continues to see innovation across payments, credit, and financial inclusion.