India’s Prime Minister Narendra Modi expressed confidence within the Reserve Financial institution of India’s digital foreign money initiative throughout his handle on the International Fintech Fest 2025 in Mumbai. The Prime Minister said that the digital foreign money mission will strengthen India’s financial progress story.
Modi highlighted India Stack as the muse of the nation’s digital economic system throughout the occasion attended by UK Prime Minister Keir Starmer. Key elements embody Unified Funds Interface, Aadhaar Enabled Fee System, Bharat Invoice Fee System, Bharat-QR, DigiLocker, DigiYatra, and Authorities e-Market.
The Prime Minister famous that UPI alone facilitates 20 billion transactions each month with a transaction worth exceeding 25 lakh crore rupees. Out of each 100 real-time digital transactions globally, 50 happen in India, based on Modi’s handle.
I’m assured that the digital foreign money initiative being superior by the RBI will additional strengthen India’s progress story. pic.twitter.com/kli361AjAL
— Narendra Modi (@narendramodi) October 9, 2025
Open Ecosystems Drive Monetary Inclusion
Modi said that India Stack has enabled new open ecosystems to develop monetary entry, with the Open Community for Digital Commerce serving to MSMEs attain markets nationwide.
The Open Credit score Enablement Community simplifies credit score entry for small entrepreneurs, addressing funding shortages confronted by micro, small, and medium enterprises. These platforms construct on India’s digital public infrastructure to democratize monetary providers.
The Prime Minister emphasised that digital expertise has remodeled banking from a privilege into empowerment. He attributed this success to the JAM Trinity consisting of Jan Dhan accounts, Aadhaar identification, and cell connectivity.
India has shared its digital improvements with different nations as international public items. The Modular Open-Supply Identification Platform (MOSIP), developed in India, has been adopted by over 25 international locations, constructing sovereign digital id methods.
Inside the first six months of 2025, India emerged among the many prime three most-funded fintech ecosystems globally. The Prime Minister highlighted that Indian startups in interoperable QR networks, open commerce, and open finance frameworks have gained worldwide recognition.
AI and Fintech Cooperation Broaden
Modi outlined India’s method to synthetic intelligence, constructed on equitable entry, population-scale skilling, and accountable deployment ideas. The India-AI Mission develops high-performance computing capability to make sure reasonably priced sources for innovators and startups.
The Prime Minister introduced deepened cooperation via the UK-India Fintech Hall, creating alternatives to pilot and scale new startups. Enhanced cooperation between the London Inventory Change and GIFT Metropolis will facilitate monetary integration between each international locations. Modi said these efforts will change India’s untapped potential into driving forces for the nation’s progress story alongside the RBI’s digital foreign money growth.
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