On Wednesday, Finance Minister Nirmala Sitharaman urged fintech startups to develop solutions to combat the increasing cases of digital arrests, fraud by unscrupulous operators, and various forms of cybercrime.
During the Digital Payments Awards 2025 ceremony, she acknowledged the role of fintech’s in accelerating financial inclusion and extending payment systems to remote regions of the country.
She emphasized the necessity for startups to devise solutions that prevent individuals from being digitally arrested at home or falling victim to fraudulent operators. Sitharaman also highlighted the significant threat posed by deepfake technology, which is inflicting considerable harm on the public.
“We must address these issues today, and therefore, we require a group of fintech companies that are continuously working to provide solutions for the emerging challenges,” Sitharaman stated.
Additionally, she encouraged the fintech sector to broaden digital lending services to the crucial MSME sector. Indian fintech innovations hold the promise of becoming global public goods that could benefit both emerging and developed economies, potentially opening new markets for Indian companies, she noted.
International merchant payments via UPI are now accepted at select outlets in seven countries: Bhutan, France, Mauritius, Nepal, Singapore, Sri Lanka, and the UAE. “Our players should strive to export our successful models internationally and seize global market opportunities. We possess the talent, market scale, and proven solutions,” Sitharaman concluded.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream formerly known as CIO News LinkedIn Account | The Mainstream formerly known as CIO News Facebook | The Mainstream formerly known as CIO News Youtube | The Mainstream formerly known as CIO News Twitter |The Mainstream formerly known as CIO News Whatsapp Channel | The Mainstream formerly known as CIO News Instagram
About us:
The Mainstream formerly known as CIO News is a premier platform dedicated to delivering latest news, updates, and insights from the tech industry. With its strong foundation of intellectual property and thought leadership, the platform is well-positioned to stay ahead of the curve and lead conversations about how technology shapes our world. From its early days as CIO News to its rebranding as The Mainstream on November 28, 2024, it has been expanding its global reach, targeting key markets in the Middle East & Africa, ASEAN, the USA, and the UK. The Mainstream is a vision to put technology at the center of every conversation, inspiring professionals and organizations to embrace the future of tech.
