Union Commerce and Industry Minister Piyush Goyal today urged the fintech sector to look at ethical AI and find ways to combat money laundering and financial crimes via the ethical use of AI. Addressing the Global Fintech Fest 2024 in Mumbai today, the Union Minister said that the fintech sector has made India proud.

The Union Minister of Commerce and Industry Piyush Goyal praised India’s fintech sector’s passion and innovation in accelerating financial inclusion in the country. Mr Goyal also said that the evolution of the fintech sector has helped revolutionize the country’s financial world. He stated that it has taken financial services to the last man at the bottom of the pyramid across the country in every remote corner.

The minister also asserted that a lot of India’s economic success rests on the shoulders of the fintech sector, especially during the pandemic, wherein innovations by the sector aided the economy then.