Indian finance minister warns of 'darker side' of technology even as it transforms everyday life
Speaking at the Global Fintech Fest in Mumbai, Indian Finance Minister Nirmala Sitharaman said technology can serve as a bridge to uplift its citizens. However, addressing threats like deepfakes and cybercrime require collaboration and a coordinated response. Ms Sitharaman also announced a new foreign currency settlement system through the country's tax-neutral zone GIFT City, which she said would help speed up transactions. Digital transactions have surged in India, with more than 18 billion transactions a month carried out through the Unified Payments Interface — which allows citizens to easily make payments through apps on their smartphones. Rebecca Bundhun reports.
Speaking at the Global Fintech Fest in Mumbai, Indian Finance Minister Nirmala Sitharaman said technology can serve as a bridge to uplift its citizens. However, addressing threats like deepfakes and cybercrime require collaboration and a coordinated response. Ms Sitharaman also announced a new foreign currency settlement system through the country's tax-neutral zone GIFT City, which she said would help speed up transactions. Digital transactions have surged in India, with more than 18 billion transactions a month carried out through the Unified Payments Interface — which allows citizens to easily make payments through apps on their smartphones. Rebecca Bundhun reports.
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