Mumbai, October 8, 2025: “India was able to achieve in nine years what would have taken 47 years under normal circumstances. It’s a great example of acceleration that has happened in the country, said Mr. Nandan Nilekani, Chairman, Infosys, highlighting the significant impact of Jan Dhan Yojana, at the Global Fintech Fest (GFF) 2025, being held at the Jio World Centre, Mumbai, from October 7 to 9. He was addressing a session titled ‘Finternet – Building the Digital Infrastructure for the World.’
GFF 2025 is organised by the Payments Council of India (PCI), the National Payments Corporation of India (NPCI) and the Fintech Convergence Council (FCC).
He said, “What you’re seeing is technology, government, Reserve Bank of India (RBI) and National Payments Council of India (NPCI), and all the private innovators working together to achieve this.”
Talking about digital inclusion and financial empowerment, Mr. Nilekani said, “India has over 1.43 billion Aadhaar card holders, 600 million DigiLocker users, and more than 20 billion UPI transactions per month.” All these, he said, showed how India’s digital public infrastructure had massively expanded access to financial services, identity verification, and government programmes.
Regarding Finternet, he said, “It is India’s ambitious vision to build a global digital infrastructure that integrates tokenisation, artificial intelligence (AI), and regulated financial systems.” Finternet, he said, represented a structured, scalable, and compliant approach to tokenisation and digital asset management, creating a future where individuals and businesses could unlock the potential of their assets, participate in new markets, and realise their aspirations.
“Finternet is expanding across 20 ecosystems in four continents, with live implementations across multiple sectors expected by 2026,” Mr. Nilekani added.
Emphasising the importance of tokenisation of assets, he said that any asset, from gold and property to securities, could be digitised, verified, and transacted programmatically within a fully regulated framework, enabling ordinary citizens to leverage their wealth, access credit, and participate in new economic opportunities.
Regarding global integration, Mr. Nilekani said, “India is now improving cross-border payments and planning global adoption of digital assets, making the Indian digital ecosystem more connected with the world.”
GFF 2025 is supported by the Ministry of Electronics and Information Technology; the Department of Economic Affairs and the Department of Financial Services, Ministry of Finance; the Department of Promotion of Industry and Internal Trade, Ministry of Commerce and Industry; New, Emerging and Strategic Technology Division, the Ministry of External Affairs; the Reserve Bank of India (RBI); the Securities and Exchanges Board of India (SEBI), the Insurance Regulatory and Development Authority of India (IRDAI) and the International Financial Services Centres Authority (IFSCA).
This year’s GFF theme is ‘Empowering Finance for a Better World Powered by AI.’
About Payments Council of India (PCI)
The Payments Council of India (PCI) was formed under the aegis of the Internet and Mobile Association of India (PCI) in the year 2013 catering to the needs of the digital payment industry. The Council was formed inter-alia to represent the various non-banking payment industry players, and to address and help resolve various industry-level issues and barriers that require discussion and action.
The council works with its 180+ members, encompassing over 90% of the industry to promote payments industry growth and to support our national goals of ‘Cashless Society’ and ‘Growth of Financial Inclusion’ which is also the Vision Shared by the RBI and the Government of India. PCI represents the complete digital payments ecosystem of India through its various committees representing different sectors.
About Fintech Convergence Council (FCC)
Established in 2018, the Fintech Convergence Council (FCC) is an industry body representing the collective voice of fintech companies in India. Since its inception, FCC has evolved into a leading platform with a diverse membership of over 200 fintech entities across key segments including digital lending, wealth, insurance, digital financial services, RegTech, and credit bureaus.
FCC’s core mission is to address sector-specific challenges and provide a unified platform for dialogue within the broader BFSI (Banking, Financial Services, and Insurance) ecosystem. The council actively engages with regulators and policymakers to help shape progressive policy frameworks and promote a balanced approach to innovation and compliance.
In addition to policy advocacy, FCC also focuses on knowledge sharing, strengthening consumer education, and promoting responsible finance through awareness-building initiatives on customer protection, digital literacy, and best practices in fintech.
By: Sandhya Bharti
