RBI Governor Sanjay Malhotra said fintech has transformed India’s financial ecosystem by expanding faster and cheaper access to formal finance, improving customer experience, payments and fraud detection, and enabling better credit delivery to MSMEs. He also highlighted the RBI’s support for responsible innovation and digital public infrastructure.
Mumbai: Fintech has played a key role in connecting India’s vast and diverse population with formal finance faster and more affordably, while transforming customer experience, financial infrastructure and credit delivery, Reserve Bank of India Governor Sanjay Malhotra said on Tuesday.
Speaking at the Global Fintech Fest (GFF) 2026, Malhotra said fintech has significantly improved the efficiency of India’s financial ecosystem by reducing account-opening and payment-settlement times, lowering transaction costs and strengthening fraud detection through AI-driven analytics.
“This has been made possible by fintech, which bridges and connects our vast, diverse population to formal finance faster and more affordably,” Malhotra said.
"Equally significant has been fintech's role in improving customer experience and efficiency in our financial infrastructure, reducing account opening and payment settlement times, cutting transaction costs, strengthening fraud detection through AI-driven analytics, enabling real-time supervision," he added.
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