India’s fintech story should be remembered not only as a tale of technology but also as that of gender justice

BHUBANESWAR: President Droupadi Murmu on Friday said India’s fintech journey must be viewed not only through the lens of technological innovation but also as a story of gender justice, urging entrepreneurs and innovators to make technology a tool for social inclusion.

The President Droupadi Murmu was speaking after gracing the Black Swan Summit, India, organised by the Government of Odisha in collaboration with the Global Finance and Technology Network.

She said technology is evolving at an unprecedented pace, often outstripping the ability of systems, skills and business models to adapt. While rapid innovation has brought challenges such as cybersecurity threats, deepfakes and misinformation, it has also created immense opportunities for growth, innovation, employment generation and digital transformation.

Referring to India’s financial transformation over the past decade, President Droupadi Murmu said direct benefit transfers and digital payments have become integral to daily life for farmers, small shopkeepers and women. For many, fintech is no longer a technical concept but a lifeline enabling access to financial services.

She said women must be viewed not merely as end users of fintech platforms but as leaders, professionals and entrepreneurs within the ecosystem. Every new fintech product or policy, she added, should be assessed on whether it enables women to become active participants in the digital and financial economy.

The President Droupadi Murmu cautioned that fintech alone does not ensure inclusion, noting that citizens in remote, tribal and rural areas often lack familiarity with digital tools. Skill development, she said, is critical to ensuring that technology-driven growth reaches all sections of society and supports entrepreneurship and employment.

Highlighting concerns over financial fraud, she said technology can be misused and stressed the need for greater public awareness and vigilance. She noted that the Government of India has established mechanisms such as the Indian Cyber Crime Coordination Centre, the Citizen Financial Cyber Fraud Reporting and Management System and the Cyber Fraud Mitigation Centre to address online frauds. She underlined the importance of digital and financial literacy and called for its inclusion in school curricula.

President Droupadi Murmu said investments in skill development, global capability centres and innovation capacity are investments in human capital. She welcomed the Odisha government’s BharatNetra initiative aimed at building a future-ready workforce in digital, financial and insurance technology sectors.

Appreciating the Government of Odisha and the Global Finance and Technology Network for co-organising the summit, she expressed confidence that the discussions and collaborations emerging from the Black Swan Summit would have a transformative impact on Odisha, India and the global fintech ecosystem.