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Sitharaman Warns AI Could Influence Elections as Fintech Expands
Nirmala Sitharaman spoke about India’s economy at a fintech event in Mumbai.
She said some critics are too pessimistic about India’s growth and young population.
She argued that young people are already building companies and writing computer code.
She also warned that advanced artificial intelligence could influence people without them realizing it.
She said this could affect elections.
AI systems might also create cybersecurity risks and manipulate public opinion.
Sitharaman said new technology needs sensible rules.
She wants innovation to continue, especially in fintech.
She noted that the Reserve Bank of India had recognized the Unified Fintech Forum as a self-regulatory organization.
Finance Minister Nirmala Sitharaman defended India’s growth momentum and demographic prospects at Global Fintech Fest 2026.
She criticized pessimistic assessments based on outdated economic benchmarks and “vibecasting” rather than actual numbers.
Sitharaman said young Indians are building enterprises, writing code and contributing to India’s future.
She warned that agentic artificial intelligence and large language models could enable cyberattacks, opinion manipulation and election interference.
She said regulation must address emerging risks without slowing fintech innovation and welcomed recognition of the Unified Fintech Forum as a self-regulatory organization.
- Who
- Finance Minister Nirmala Sitharaman, the Reserve Bank of India and the Unified Fintech Forum were central to the discussion.
- What
- Sitharaman defended India’s growth while warning that advanced AI could manipulate public opinion and influence elections.
- Where
- The remarks were made in Mumbai at the valedictory session of Global Fintech Fest 2026.
- When
- She spoke on Friday at Global Fintech Fest 2026 and referred to the Reserve Bank of India’s recognition of the forum on September 10.
- Why
- She said AI risks require attention while fintech regulation should continue allowing innovation.
Innovation and Growth
Risk and Regulation
Fintech oversight
Innovation and Growth
Sitharaman said regulation should allow India’s fintech companies to continue innovating, including through a lighter approach to some risks.
Risk and Regulation
She also said emerging technologies require safeguards because advanced AI could create cybersecurity, opinion-manipulation and election-related risks.
India’s demographic outlook
Innovation and Growth
Sitharaman said young Indians are already building enterprises, writing code and demonstrating that the demographic dividend remains active.
Risk and Regulation
She criticized unnamed skeptics who question whether India’s demographic dividend has been lost or become a burden, saying they rely on outdated benchmarks and “vibecasting.”
Key facts
- Speaker
- Finance Minister Nirmala Sitharaman
- Event
- Global Fintech Fest 2026
- Location
- Mumbai
- AI risks cited
- Cyberattacks, public-opinion manipulation and election interference
- Technology discussed
- Agentic AI systems and large language models
- Regulatory issue
- Managing emerging risks without slowing fintech innovation
- RBI action
- The Reserve Bank of India recognized the Unified Fintech Forum as a self-regulatory organization under the SRO-FT framework
Quotes
Nirmala Sitharaman
India’s Finance Minister speaking at Global Fintech Fest 2026
“This generation is not waiting for legacy yardsticks to validate their productivity. They are already writing tomorrow's code, building enduring enterprises, and proving that India's greatest demographic advantage is an active, unstoppable reality.”
deccanchronicle.com
“The model that I'm referring to is fully capable of influencing opinion on the ground without people even sensing that they are being influenced. Being a minister and being in politics, I'm clearly seeing it capable of influencing elections.”
deccanchronicle.com
Sources
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