More Stories

Informist, Thursday, Apr. 23, 2026

 

Please click here to read all liners published on this story

--Banking secy: India emerging as leader of digital public infra 
--Banking secy: India today has largest, fastest growing fintech system 
--Banking secy: Technology to play increasingly important role
--Banking secy:AI must be seen not as disruptor but enabler of fincl inclusion
--Banking secy: Must remain vigilant of threats, such as cyber-attacks
--Banking secy: Policy framework must remain reformative 
--Banking secy: More nations lined up for linking cross-border digital pay 

 

NEW DELHI – Artificial intelligence must not be seen as a disruptor, but as an integral part of a responsible solution to financial inclusion, Department of Financial Services Secretary M. Nagaraju said at an event here Thursday. "AI has the potential to make financial inclusion not just socially desirable, but commercially sustainable."

 

Nagaraju added that going forward, technology will play an increasingly important role in not only fuelling innovation, but also in strengthening supervision and risk management. He warned that stakeholders must remain vigilant of associated risks such as cyber-threats, data privacy infringement, credit and asset quality risks, trust deficiencies, and distribution inefficiencies, among others.

 

Policy frameworks must remain adaptive and reformative and encourage innovation through mechanisms such as regulatory sandboxes and pilot projects while ensuring that risks are identified and managed in a timely manner, Nagaraju said. 

 

The banking secretary said India has amongst the largest and fastest-growing financial technology ecosystems today, with start-ups and traditional institutions partnering to deliver technologically advanced solutions across areas such as payments, lending, insurance, credit, fundraising, and wealth management. "Now, we are moving from scale to complexity, where expectations are higher, risks are sharper, and our systems will be tested far more rigorously," he said.

 

India is also emerging as a global leader of digital public infrastructure, Nagaraju said. He lauded the country's digital payments system which is now expanding beyond national borders. "UPI (Unified Payments Interface) is in operation in multiple countries, and several more are in the pipeline," he added.  End

Reported by Shakshi Jain, Shweta, Priyasmita Dutta, and Sagar Sen

Edited by Tanima Banerjee

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (11) 4220-1000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.