On July 8, 2025, India’s Financial Services Secretary M Nagaraju urged fintech companies to prioritize cybersecurity, emphasizing their role in expanding financial inclusion and protecting consumers from fraud and cyber threats.
India’s Financial Services Secretary, M Nagaraju, on July 8, 2025, called on fintech companies to adopt robust safeguards against cyber threats, emphasizing their crucial role in enhancing financial inclusion across the country.
Speaking at a fintech summit in New Delhi, Nagaraju said fintech companies must integrate advanced security measures, including artificial intelligence (AI), to detect and combat threats such as hacking and fraud.
Fintech plays a pivotal role in advancing financial inclusion by extending essential financial services to underserved and unserved regions, thereby contributing significantly to India’s growth narrative.”
M Nagaraju, Financial Services Secretary
He urged firms to ensure consumer protection remains a top priority by adopting cutting-edge cybersecurity frameworks that evolve with the digital ecosystem.
The Department of Financial Services, operating under India’s Ministry of Finance, is leading efforts to foster a secure and inclusive fintech ecosystem supported by the government’s digital public infrastructure and welfare schemes.
India’s rapidly growing fintech space includes major players like Paytm, PhonePe, Razorpay, and BharatPe—each delivering digital financial services to millions.
Nagaraju’s remarks align with the cybersecurity priorities of the Reserve Bank of India (RBI), which has been actively urging regulated entities to adopt strong cyber risk management frameworks and safeguard consumer data.
With India’s fintech sector positioned as a global digital powerhouse, the government reiterated its commitment to balancing innovation and regulation. The digital economy is projected to contribute $1 trillion to India’s GDP by 2030, making cyber resilience a national priority.
