President Murmu calls for inclusive, responsible fintech as India’s digital backbone expands

BHUBANESWAR: President Droupadi Murmu on Friday underscored the need for deeper financial inclusion, responsible technology adoption, and the stronger participation of women entrepreneurs as India’s digital and fintech ecosystem scales up, saying technology must ultimately serve social justice and human dignity.

Addressing the Black Swan Summit in Bhubaneswar, Murmu said India’s fintech journey should be remembered not merely as a story of technological innovation, but as one of inclusion and gender justice.

“Fintech, for millions of Indians, is not a technical term. It has become a lifeline,” the President said, pointing to how digital platforms have enabled direct benefit transfers, timely payments to farmers and seamless digital transactions for small kirana stores.


Murmu highlighted the scale of India’s digital public infrastructure-led transformation over the past decade, noting that more than 570 million Jan-Dhan accounts have been opened, with over 56% held by women. “With a simple smartphone and a basic bank account, a woman today receives welfare benefits directly in her account. This is empowerment in action,” she said.

She stressed that women must be viewed not just as end users of financial technology but also as leaders, professionals, and entrepreneurs within the fintech ecosystem. An inclusive fintech framework, she said, is one where women are visible across the value chain—from village-level entrepreneurs and banking correspondents to engineers, founders and board members.

At the same time, the President cautioned that rapid digitalisation also brings risks, including cybersecurity threats, online fraud, deep fakes, and misinformation, and that technology by alone does not guarantee inclusion. Skilling and digital literacy, particularly in rural and remote areas, are essential to ensure wider participation in the digital economy, she said.

Calling for responsibility-led technology adoption, the President urged entrepreneurs and innovators to design citizen-centric, ethical solutions. Digital finance, she added, should enhance transparency in governance while giving citizens greater control over their economic lives.

On artificial intelligence (AI), Murmu said AI is rapidly reshaping economies and societies; she highlighted the government’s push through initiatives such as the India AI Mission to promote ethical and inclusive use of emerging technologies. She also noted Odisha’s growing adoption of AI in governance, healthcare, agriculture and public service delivery as part of its digital transformation agenda.

Speaking on the occasion, Odisha Chief Minister Mohan Charan Majhi said the Black Swan Summit reflects the state’s approach to preparing for low-probability but high-impact disruptions driven by technological change, geopolitical shifts and evolving global supply chains. The event’s name, he said, symbolises the need for policymakers to anticipate inflection points rather than react to them.

“Odisha is strategically positioning itself as an emerging hub for global capability centres (GCCs), fintech and advanced digital services, supported by a stable policy environment, competitive operating costs and a growing pool of skilled talent,” he said, adding that the state’s investment and industrial policies focus on ease of doing business, plug-and-play infrastructure, targeted incentives and stronger industry–academia collaboration to attract global firms diversifying beyond traditional metros.

(The author is in Bhubaneswar at the invitation of GFTN and the Government of Odisha)