Mumbai: Fintechs in India have a clear mandate from the head of the country’s central bank: design products that are accessible, inclusive, and tailored for underserved populations.

Speaking at the Global Fintech Fest 2025 in Mumbai on Wednesday, Reserve Bank of India (RBI) governor Sanjay Malhotra urged fintechs to ensure that no segment is left behind even as serving affluent customers remains lucrative.

He called on fintechs to bridge digital divides, foster competition, and innovate while thinking global but anchoring local. “Engage with international partners, share learnings, adopt global best practices and strengthen India's role in shaping the future of digital finance,” he said.

Next phase of digital transformation

Malhotra framed this as part of India’s next phase of digita

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