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PM Modi stated India’s financial system grew 7.8 per cent within the first quarter regardless of the West Asia battle, which put power and commodity provide chains underneath strain.
the Prime Minister stated India’s fintech story has been outstanding, and considered one of its greatest champions is the UPI. (Photograph: PMO India)
Prime Minister Narendra Modi on Tuesday stated India’s “reform categorical” would transfer ahead at a fair quicker tempo, as he highlighted the nation’s fintech development, UPI’s world enlargement and the alternatives introduced by rising applied sciences.
Addressing the International Fintech Fest (GFF) 2026 in Mumbai, PM Modi described India’s fintech journey as “outstanding” and stated the Unified Funds Interface (UPI) had been considered one of its greatest drivers.
“I’ll reiterate that India’s reform categorical will transfer ahead at a fair quicker tempo. Pals, India’s fintech story has been outstanding, and considered one of its greatest champions is our UPI,” the PM stated.
Additionally Learn | ‘UPI Live In 11 Countries’: Why PM Modi Is Pushing To Connect India’s Payment System Globally
PM Modi said the scale of UPI’s transformation was such that any dialogue on India’s fintech sector would stay incomplete with out mentioning the digital funds platform.
“Each time we discuss fintech, the dialogue would stay incomplete with out UPI,” he stated.
PM Modi additionally highlighted India’s financial development, saying the economy expanded 7.8 per cent in the first quarter despite the West Asia battle placing strain on power and commodity provide chains.
“Even in these circumstances, when India grows at 7.8 per cent, it offers the world a brand new sense of confidence,” he stated.
The Prime Minister additionally pointed to India’s improved sovereign score, saying a Japanese credit standing company had just lately upgraded India’s sovereign score to the A class.
He described the improve as one other signal of rising confidence within the Indian financial system.
Modi’s 4 Priorities For Fintech Sector
Trying forward, Modi stated the monetary sector was coming into a interval of great technological change, with agentic AI, tokenisation and quantum applied sciences creating new potentialities.
“The primary quarter of the twenty first century has ended. We’re in 2026. The second quarter has introduced in much more potentialities,” he stated.
He urged fintech corporations to show these rising technological potentialities into sensible options and outlined 4 areas that he stated needs to be prioritised.
1. Stronger cybersecurity
Modi referred to as for India to construct “top-notch” cybersecurity to guard its quickly increasing digital monetary ecosystem.
2. Moral knowledge safety requirements
He stated the fintech business ought to develop its personal moral requirements for knowledge safety.
3. A stronger fintech innovation ecosystem
Modi referred to as for a stronger ecosystem involving fintech corporations, regulators and business stakeholders to advertise innovation within the monetary sector.
4. Fintech Client Safety Index
The Prime Minister additionally proposed a Fintech Client Safety Index that might allow clear rankings of fintech corporations primarily based on client safety requirements.
He stated such an index might assist create larger transparency and strengthen client confidence within the sector.
Fast Solutions
Ask News18In 2026, PM Modi outlined 4 priorities for the fintech sector: constructing stronger cybersecurity, creating moral knowledge safety requirements, fostering a stronger fintech innovation ecosystem, and making a Fintech Client Safety Index for clear rankings.
Ask News18Concerning the Writer
Saurabh Verma is a Chief Sub-Editor at News18.com, specializing in Indian politics, nationwide present affairs, and breaking world information. With years of expertise monitoring energy shifts, election strateg…Learn Extra
September 08, 2026, 19:40 IST
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