India, UK can set benchmarks for inclusion, trust: RBI Governor Malhotra

India and the United Kingdom can set new benchmarks for inclusion, efficiency, and trust in digital finance globally, Reserve Bank of India (RBI) Governor Sanjay Malhotra said on Thursday.

 

“Looking ahead, the opportunities for collaboration and partnership are immense. These collaborations can deliver benefits beyond bilateral gains. They can set new benchmarks for inclusion, efficiency, and trust in digital finance globally,” Malhotra said at the Global Fintech Fest 2025.

 

Malhotra highlighted that both the United Kingdom and India rank among the top jurisdictions in terms of the number of fintech startups and the scale of investments flowing into the sector.

 

“The UK global fintech hub also has a well-established ecosystem with deep expertise in payments, regtech, suptech, and open finance. Its emphasis on robust governance has ensured that fintech growth has been both rapid and sustainable,” he said.

 

“They are home to some of the most vibrant and dynamic fintechs globally,” he said.

 

“Fintech is indeed a transformative force shaping our economies in both India and the UK by democratising finance and empowering citizens and businesses,” Malhotra added.

 

A number of UK-based fintechs are entering the Indian market, integrating with India’s flagship real-time payments platform, UPI, to offer innovative cross-border payment solutions.

 

The governor also called upon India’s fintech ecosystem to help shape a financial system that is inclusive, consumer-centric, trustworthy, efficient, truly global, and future-ready.

 

According to Malhotra, India’s world-class digital public infrastructure-- symbolised by systems such as UPI, Aadhaar, and DigiLocker -- has not only enhanced efficiency and service delivery but also ensured that millions of Indians enjoy easy access to a wide range of financial services.