Key Highlights
- FM urged fintech firms to treat rural India as fertile growth ground and expand MSME credit access.
- She emphasized developing cybersecurity and fraud solutions for emerging threats like deepfakes and digital arrests.
Finance Minister Nirmala Sitharaman urged fintech companies to focus more on rural India, stating that it is not only a developmental need but also a significant business opportunity.
In her speech at the Digital Payments Awards 2025, the minister stated that the next wave of fintech innovation should come from villages and agriculture. She urged businesses to consider rural areas as potential markets rather than just a component of their corporate social responsibility.
"Rural India provides a fertile ground for growth. Every fintech firm should look into it because demand is increasing and sustainable," FM Sitharaman said.
She stated that, just as FMCG companies have grown by entering rural areas, fintech companies should follow a similar strategy to expand.
FM Sitharaman also emphasized the importance of connecting micro, small, and medium-sized enterprises (MSMEs) to account aggregator frameworks in order to increase their participation in the digital financial ecosystem.
The minister also emphasized the importance of developing financial products specifically for farmers and rural consumers. She went on to say that these users have particular requirements and difficulties that call for tailored solutions.
The minister did, however, issue a warning about the growing dangers in the digital realm.
Also Read: India's Fintech Market to Reach $400 Bn in 3 Years: FM Sitharaman
She argued for more funding for cybersecurity and digital literacy, stating that deepfakes and digital fraud represent significant risks.
"Cybersecurity is an increasing concern. I've spoken with a number of startups and fintech firms about this. We need solutions to protect people from digital fraud and misuse," FM Sitharaman stated, adding that no user should feel "digitally arrested at home" as a result of unsafe platforms.
During the same event, Financial Services Secretary M. Nagaraju emphasized the next stage of India's digital payments journey. He underlined how critical it is to encourage digital adoption in underprivileged areas and industries.
Additionally, Nagaraju underlined the significance of strengthening anti-fraud measures and enhancing financial and digital literacy, especially at the local level..
