RBI Governor urges fintechs to focus on ‘underserved’ sections

Reserve Bank Governor Sanjay Malhotra on Wednesday exhorted the fledgling fintech ecosystem to focus on the underserved sections of the society to deepen financial inclusion.

- OUR CORRESPONDENT

Speaking at the annual Global Fintech Fest here, Malhotra accepted that serving the “privileged” will be a lucrative business, but urged the smaller companies to focus on the underserved.

“Build for inclusion. While there may be higher profits to be made by deepening access to the haves and the privileged. Prioritise building systems to expand financial services to the unaccessed, the unreached and the unserved segments of society,” he told a packed hall comprising stakeholders of the fintech ecosystem.