Global Fintech Fest 2026: RBI Governor Highlights India’s Role in Shaping Future Global Finance Architecture
NEW DELHI: Reserve Bank of India (RBI) Governor Sanjay Malhotra stated on Thursday that India is positioned to become a key player in shaping the future of global finance. Speaking at the Global FinTech Fest 2026 in Mumbai, he emphasized the country’s growing fintech ecosystem and the significance of digital public infrastructure in enhancing financial services. Malhotra also announced the RBI’s collaboration with the Securities and Exchange Board of India (SEBI) to launch the tokenization of corporate bonds later that day.
India ranks third globally in fintech, boasting 30 fintech unicorns, according to Malhotra. He highlighted the necessity of trust and responsible data management as technology becomes increasingly integrated into financial services. “Fintech should treat data as a fiduciary responsibility and not as business assets,” he remarked.
The RBI has approved the United Fintech Forum as the second self-regulatory organization (SRO) for the financial sector, following the earlier recognition of the Fintech Association for Consumer Empowerment (FACE) as an SRO. Malhotra previously addressed the inaugural session of the Global FinTech Fest 2026 on September 8, where he discussed the transformative impact of fintech on India’s financial system, particularly in expanding access to payments, savings, and credit.
He noted that digital platforms like UPI, Aadhaar-enabled payment systems, and the Jan Dhan ecosystem have shifted banking from physical branches to citizens’ hands. Additionally, fintech innovations such as cash-flow based lending, account aggregators, and the Unified Lending Interface (ULI) are enhancing credit access for micro, small, and medium enterprises. Malhotra also mentioned the RBI’s Regulatory Sandbox and Reserve Bank Innovation Hub, which aim to foster innovation while ensuring trust and financial stability.
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