Archive · 9 Sep 2026
Modi Signals Faster Reforms, Highlights India's Fintech Growth and Priorities
Prime Minister Narendra Modi spoke about India’s plans for financial technology.
He said India’s reforms would move faster.
He called the country’s fintech growth remarkable.
Modi said the Unified Payments Interface, or UPI, helped drive that growth.
He also said India’s economy grew 7.8% in the first quarter.
This happened even though the West Asia conflict affected energy and supply chains.
Modi said fintech companies should improve cybersecurity and protect people’s data ethically.
He also asked companies and regulators to support innovation.
Finally, he suggested an index that would show how well fintech companies protect consumers.
Prime Minister Narendra Modi said India’s “reform express” would move forward at a faster pace.
Modi described India’s fintech journey as remarkable and called UPI a major driver of its growth.
He said India’s economy grew 7.8% in the first quarter despite pressure from the West Asia conflict.
Modi identified cybersecurity, ethical data protection, innovation, and consumer protection as fintech priorities.
He proposed a Fintech Consumer Protection Index to transparently rate companies on consumer protection standards.
- Who
- Prime Minister Narendra Modi, fintech companies, regulators, and other financial-sector stakeholders.
- What
- Modi outlined faster reforms and four priorities for India’s fintech sector, including a proposed consumer protection index.
- When
- Tuesday, September 8, 2026.
- Where
- The Global Fintech Fest in Mumbai, India.
- Why
- To highlight India’s fintech growth and address opportunities and risks from emerging technologies in finance.
- Economic growth
- India’s economy expanded 7.8% in the first quarter.
- Fintech driver
- Modi identified the Unified Payments Interface (UPI) as a major driver of India’s fintech growth.
- Reform outlook
- Modi said India’s “reform express” would move forward at an even faster pace.
- Technology trends
- He cited agentic artificial intelligence, tokenisation, and quantum technologies as emerging possibilities.
- Cybersecurity
- Modi called for top-notch cybersecurity for India’s digital financial ecosystem.
- Consumer protection
- He proposed a Fintech Consumer Protection Index to support transparent company ratings.
- Event
- The remarks were delivered at the Global Fintech Fest 2026 in Mumbai.