RBI Governor urges fintech firms to design user-friendly, accessible products for financial inclusion and to combat digital fraud.
Addressing the Global Fintech Fest 2025 here, Malhotra also flagged the issue of growing digital frauds and made a strong case for making efforts to curb the menace.
“Design products and services that are easy to use, accessible for all, with assistive technologies, ensuring that the vulnerable groups such as the senior citizens, individuals with limited digital literacy and the specially-abled are not left behind,” he said.
Observing that India has a vibrant fintech ecosystem and the fintech industry has made it possible to deliver financial services at scale and affordable cost, he said, the country has close to 10,000 entities.
He also said that Unified Lending Interface (ULI) aims to enable use of data for lenders to build alternative credit model as UPI has done in payment space.