Fintech bridge that connects everyone, says RBI governor

Reserve Bank of India (RBI) Governor Sanjay Malhotra on Tuesday said that over the past decade, fintech has fundamentally reshaped the architecture of Indian finance. 'It has taken banking from the branch to the hand of every citizen. Today, a shopkeeper in a small town, a farmer in a remote village, a young professional in a metro city all transact, save and borrow through the same seamless digital rails —UPI, Aadhaar-enabled payment system and the Jan Dhan ecosystem,' Malhotra said at the Global FinTech Fest 2026. ALSO READ Nifty swings 850 points during closing auction session He added that this is financial inclusion not as a policy aspiration but as a lived, everyday reality for hundreds of millions of Indians. 'Fintech is the bridge that connects our vast, diverse population to formal finance faster and affordably,'the governor said. He observed that equally significant has been fintech's role in improving customer experience and efficiency of our financial infrastructure — reducing account opening and payment settlement times, cutting transaction costs, strengthening fraud detection through AI-driven analytics, enabling real-time supervision etc. 'Perhaps, nowhere is the impact more tangible than in the credit delivery to our micro, small and medium enterprises. Through cash-flow based lending, account aggregators, and platforms like the Unified Lending Interface, fintechs are helping bridge India's MSME credit gap by extending formal, collateral-light credit to millions of small businesses that, for decades, were invisible to traditional underwriting models,' Malhotra said. He added, that this is credit reaching the last mile of enterprises, powering jobs and livelihoods across the country. ALSO READ What tokenised bonds mean for India's debt market The governor noted that RBI has consistently viewed fintech as a valuable partner in building the financial system of the future. The Regulatory Sandbox, the Reserve Bank Innovation Hub and our structured dialogue with startups, FinTechs and other stakeholders all rest on the conviction that better policy emerges from continuous, open and constructive engagement. We have encouraged self-regulation within the sector. We have supported the development of digital public infrastructure that fintechs can build upon. We have been open to new ideas and new players. We have promoted responsible innovation while safeguarding trust that is the very foundation of finance. We will continue with this approach, guided by a vision to build a financial system that is safer, more trustworthy, inclusive, fair and efficient, and supports economic growth and public welfare.