Bhubaneswar, Feb 6 (NationPress) In a significant address, Droupadi Murmu, the President of India, urged innovators and entrepreneurs to harness fintech as a means to promote social justice and inclusivity.

This statement was made at the Black Swan Summit, India, organized by the Odisha government in collaboration with the Global Finance and Technology Network in Bhubaneswar.

During her speech, President Murmu acknowledged that while technology is advancing rapidly, it also poses serious challenges such as cybersecurity threats, deepfakes, misinformation, and increasing reliance on technology.

“Nonetheless, the swift evolution of technology offers substantial benefits for innovation and economic growth. Events like the Black Swan Summit provide a platform to discover innovative approaches for enhancing skills, creating jobs, and driving digital and financial transformation,” remarked President Murmu.

She highlighted that in the last ten years, Direct Benefit Transfers and digital payments have become commonplace for beneficiaries including farmers, small business owners, and women.

For these individuals, fintech transcends a mere technical term; it has become essential for their livelihoods. The President emphasized that India's fintech narrative should be recognized not just as a technological achievement but also as a story of gender equality.

“Women represent a crucial demographic that needs targeted focus to advance fintech. The fintech ecosystem should view them not only as users but also as leaders, professionals, and entrepreneurs,” she added.

To enhance inclusivity in fintech, the President noted the importance of skilling citizens, particularly those in remote, tribal, and rural areas, in digital tools. She urged entrepreneurs and innovators to leverage technology as a catalyst for social justice, inclusion, job creation, and entrepreneurship.

Addressing the potential for misuse of technology by criminals for financial crimes, she mentioned that the union government has implemented various initiatives to combat and report fraud, which include the establishment of the Indian Cybercrime Coordination Centre, the Citizen Financial Cyber Fraud Reporting and Management System, and the Cyber Fraud Mitigation Centre.

“Promoting digital and financial literacy is vital to prevent online financial fraud. This should be integrated into school curricula so that young individuals can comprehend the advantages and risks associated with technology,” she stressed.

President Murmu expressed her satisfaction with the Odisha government's launch of the BharatNetra initiative, aimed at cultivating a future-ready workforce and innovation ecosystem in the digital, financial, and insurance technology sectors.

She noted that the upcoming India AI Impact Summit, scheduled in New Delhi this month, is expected to attract participants from approximately 100 countries. The summit aims to frame Artificial Intelligence not only as a technological advancement but as a strategic instrument for inclusive growth, expanding access to opportunities that have often eluded significant segments of society.

“The India AI Impact Summit will play a pivotal role in leveraging global AI expertise and technology for the greater good of people,” the President concluded.