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PM Narendra Modi inaugurated the 7th Global Fintech Fest (GFF) in Mumbai on 8 September 2026; the fest runs 8-11 September.
He urged fintech firms to move beyond payments into credit, insurance, savings, investments and pensions.
He set out four priorities: top-notch cybersecurity, ethical data protection, a strong regulator-industry innovation ecosystem, and a fintech consumer protection index.
UPI processed over 24 billion transactions in August 2026 and is live in 11 countries.
Collateral-free working-capital loans for street vendors, with incentives for digital payments
Key: Restructured in August 2025: lending to 31 March 2030, ~1.15 crore beneficiaries targeted, UPI-linked RuPay credit card for vendors repaying the second loan on time; run jointly by MoHUA and the Department of Financial Services
Operates UPI, RuPay, IMPS; co-organiser of GFF
Regulates payment systems and digital lending
Regulate fintech in investments, insurance and pensions respectively
Empowers the RBI to authorise and regulate payment systems, including the NPCI-run UPI
Replacing sensitive data, such as a card number, with a random digital token. Merchants store only the token, so a data breach exposes nothing usable. In finance the term also covers representing assets like bonds as digital tokens.
Simple Analogy: A cloakroom ticket stands in for your coat.
Banking Awareness > Digital payments, NPCI, fintech
GS Paper III > Indian Economy > Financial inclusion, digital payments
AI systems that can plan and take actions with limited human intervention
Proposed transparent rating of every fintech company on how it protects consumers
Real-time retail payment system operated by NPCI