Keynote from Shri KV Kamath on India's Transformative Journey

Shri KV Kamath, a luminary in banking and finance with five decades of experience, recently outlined India’s groundbreaking strides in financial inclusion. From the monumental Jandhan initiative, which banked 600 million previously unbanked individuals, to leveraging cutting-edge technology, Kamath painted a compelling picture of progress and potential.

He highlighted the role of artificial intelligence and the Account Aggregator (AA) framework in democratising financial services. These advancements enhance access and enable individuals to consolidate their financial data securely, fostering informed decisions and reducing fraud. Kamath emphasised that this consent-driven system empowers users with data ownership, a cornerstone of financial autonomy.

Reflecting on India’s digital supercycle, Kamath noted how demographic diversity fuels innovation, ensuring benefits reach all societal segments. He underscored the significance of converting savings into productive investments, particularly for marginalised groups, to foster wealth creation and economic resilience.

Kamath praised India’s robust legislative and digital infrastructure, which simplifies access, reduces costs, and ensures compliance with data privacy standards. He also stressed the importance of financial literacy and personalized banking, which are enabled by technologies like the AA framework and the India Stack.

With a call for responsible scaling, Kamath lauded the collaborative efforts of regulators, young innovators, and financial institutions in shaping an inclusive, secure, and opportunity-rich ecosystem that enriches individuals and uplifts communities across India.

Listen to the complete keynote address here.