India Shaping Next Chapter Of Digital Financial Journey: RBI

(MENAFN- IANS) New Delhi, Sep 12 (IANS) The Reserve Bank of India (RBI) on Saturday said that India has unveiled key fintech innovations and initiatives at 'Global Fintech Fest 2026', reinforcing a vision for a more trusted, connected, inclusive and future‐ready financial ecosystem.

The RBI's post on social media platform X said the 'Global Fintech Fest' convened on the theme“Potential to Impact - Agentic AI | Tokenisation | Quantum - Trusted, Connected, Global Systems for Inclusive Finance” saw central bank Governor Sanjay Malhotra launching many innovations.

The fest provided a platform to launch developments that mark another step towards shaping the future of finance, and innovations enable smarter digital experiences and strengthen "the foundations of responsible fintech innovation," it added.

RBI Governor Sanjay Malhotra on Friday said fintech companies have emerged as important partners in India's financial ecosystem and will play an increasingly significant role in expanding financial inclusion across the country.

Speaking exclusively to IANS on the sidelines of the Global Fintech Fest (GFF) 2026, Malhotra said the central bank is working closely with fintech firms and financial institutions to make financial services more accessible, reduce digital fraud and lower the cost of banking and financial services.

"Financial inclusion, customer-centricity and the development of a secure digital financial system remain key priorities for the RBI," he said.

"Technology can help take financial services beyond traditional banking channels and bring them closer to people in villages and households," he added.

"Fintech is a very important partner for us," Malhotra said, stressing the need for greater collaboration between fintech companies and financial sector institutions to achieve wider financial inclusion and strengthen customer-focused services.

India's first tokenised corporate bond pilot was launched at the Global Fintech Fest 2026, marking a significant step towards the use of blockchain and central bank digital currency (CBDC) in securities and asset settlements.

The fest also saw the introduction of Open-Source (Android) ATM for instant Rupay card and merchant UPI QR issuance, the enablement of 'Credit Line on UPI' for select government-backed credit schemes, and the introduction of Aadhaar Enabled Payment System (AePS) Three-Party Cash Deposit.

-IANS

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