Archive · 9 Sep 2026
RBI Governor Says Fintech Took Banking From Branches to Hands
RBI Governor Sanjay Malhotra said fintech has changed how people in India use money.
Banking services can now reach people through their phones instead of only through branches.
Shopkeepers, farmers and city workers can use similar digital systems to pay, save and borrow.
These systems include UPI, Aadhaar-enabled payments and the Jan Dhan ecosystem.
Fintech has made some financial services faster and less expensive.
Artificial intelligence can help detect fraud and technology can help supervisors watch the financial system in real time.
Digital tools are also helping small businesses receive loans.
The RBI says it wants innovation to continue while keeping finance safe and trustworthy.
RBI Governor Sanjay Malhotra said fintech has reshaped India’s financial system over the past decade.
He said digital rails such as UPI, Aadhaar-enabled payments and the Jan Dhan ecosystem expanded access to formal finance.
Fintech has reduced account-opening and payment-settlement times, lowered transaction costs and strengthened fraud detection through artificial intelligence.
Malhotra highlighted cash-flow lending, account aggregators and the Unified Lending Interface for improving credit access to MSMEs.
He said the RBI supports responsible innovation, fintech self-regulation and digital public infrastructure while safeguarding financial trust.
- Who
- RBI Governor Sanjay Malhotra, the Reserve Bank of India and fintech companies; Prime Minister Narendra Modi also attended the festival.
- What
- Malhotra said fintech has expanded financial inclusion, improved financial infrastructure and credit delivery, and moved banking from branches into citizens’ hands.
- When
- Tuesday, September 8, 2026.
- Where
- The Global Fintech Fest 2026 in India; the second article identifies the location as Mumbai.
- Why
- To discuss how fintech is improving access, efficiency and innovation in India’s financial system while maintaining trust and responsible regulation.
- Speaker
- Sanjay Malhotra, Governor of the Reserve Bank of India
- Event
- Global Fintech Fest 2026
- Digital systems
- Unified Payments Interface, Aadhaar-enabled payment systems and the Jan Dhan ecosystem
- Financial improvements
- Faster account opening and payment settlement, lower transaction costs and stronger AI-driven fraud detection
- Small-business lending
- Cash-flow-based lending, account aggregators and the Unified Lending Interface are supporting credit delivery to MSMEs
- RBI approach
- The central bank supports self-regulation, digital public infrastructure, new ideas and responsible innovation
- Festival projections
- More than 100,000 delegates, 8,000 participating institutions, 1,200 speakers and 500 investors were expected
