How Fintechs Are Boosting Financial Inclusion
Expanding Financial Services Beyond Cities

Fintech companies must reach beyond city limits. They play a crucial role in driving financial inclusion across the country. Here’s how they can do it:
- Creating offline payment systems
- Developing voice-authorized tools
- Improving connectivity
- Enhancing cross-border payment capabilities
- Strengthening cybersecurity
- Using AI to improve services
- Ensuring better app safety for user convenience
Fintech: A Key Driver of Growth
M Nagaraju, secretary of the department of financial services, shared his thoughts. He said, “Fintech will drive financial inclusion. This is a key driver of growth and poverty alleviation.”
The Role of India’s Digital Public Infrastructure
Nagaraju highlighted the importance of India’s Digital Public Infrastructure (DPI). This includes:
- Aadhaar: A unique identification system
- UPI: Unified Payments Interface for seamless transactions
- India Stack: A set of APIs for digital services
- ONDC: Open Network for Digital Commerce
- Digilocker: A digital document storage system
- CBDC: Central Bank Digital Currency
These tools have significantly advanced financial inclusion in India. Nagaraju stressed the vital role of fintechs. They are crucial for advancing financial inclusion and protecting consumers.