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Key Points

5 points
1

The event showcased how digital payment systems have helped millions of people join the banking system.

2

India’s economic growth of 7.8% was presented as a sign of resilience despite global challenges.

3

A four‑point agenda was announced: better cybersecurity, ethical data standards, regulator‑industry collaboration, and a consumer protection index.

4

Fintech companies are encouraged to develop their own global standards rather than rely only on foreign rules.

5

Plans are in place to make financial services like credit, insurance, and pensions as easy to use as scanning a quick response code.

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Summary

He highlighted the role of the Unified Payments Interface in expanding digital payments across India and abroad.

Modi emphasized the need for stronger cybersecurity, ethical data use, and consumer protection in the fintech sector.

Future focus includes Artificial Intelligence, tokenisation, and quantum computing to create new financial services.

The government aims to extend credit, insurance, savings and pension options to small businesses and gig workers.

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New Words to Learn

8 words
Financial Technology
New digital tools that make handling money easier and faster.
Unified Payments Interface
A nationwide system that lets people pay and receive money instantly using smartphones.
Cybersecurity
Measures taken to protect computer systems and data from attacks.
Ethical Data Use
Handling personal information in a fair and responsible way.
Artificial Intelligence
Computer systems that can learn, reason, and make decisions like humans.
Tokenisation
Turning assets or information into secure digital tokens for easier use.
Quantum Computing
Advanced computers that can solve very complex problems much faster than ordinary computers.
Consumer Protection
Rules and actions that keep shoppers safe from unfair practices.
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