Technology’s Rapid Growth and Its Dual Impact
President Murmu noted that the pace of technological advancement today is unprecedented, often outstripping the ability of institutions, skills, and business models to adapt. While innovation has unlocked immense opportunities for growth, it has also introduced new risks such as cybersecurity threats, deepfakes, misinformation, and excessive dependence on digital systems.
She emphasised that platforms like the Black Swan Summit provide an important space to explore ways in which technology can be leveraged responsibly to enhance skills, generate employment, and accelerate India’s digital and financial transformation.
Fintech as a Lifeline for Millions
Highlighting the transformation of India’s financial ecosystem over the past decade, the President said initiatives such as direct benefit transfers and digital payments have become part of everyday life for farmers, small traders, and women. For millions of citizens, fintech is no longer a technical concept but a crucial lifeline enabling access to financial services.
She observed that this widespread adoption has strengthened financial inclusion and improved transparency, particularly in welfare delivery systems.
Gender Justice at the Core of Fintech
President Murmu made a strong case for placing women at the centre of fintech policy and innovation. She said India’s fintech journey should be viewed as a story of gender justice, where women are not just end users but also leaders, professionals, and entrepreneurs within the ecosystem.
She urged stakeholders to assess every new platform, product, and policy on whether it actively enables women’s participation in the digital and financial landscape.
Bridging the Digital Divide
The President cautioned that fintech does not automatically guarantee inclusion. Many citizens, particularly in remote, tribal, and rural areas, still lack familiarity with digital tools. Skilling and digital literacy, she said, are essential to ensure that technology-driven growth reaches every section of society.
Only through inclusive skilling can fintech truly become an engine for employment generation, entrepreneurship, and equitable development.
Cybersecurity and Financial Awareness
While acknowledging technology’s transformative potential, President Murmu warned about its misuse in financial frauds. She stressed the importance of public awareness and vigilance to prevent cybercrime.
She highlighted government initiatives such as the Indian Cyber Crime Coordination Centre and the Citizen Financial Cyber Fraud Reporting and Management System. Enhancing digital and financial literacy, she added, should begin at the school level to help young citizens understand both the benefits and risks of technology.
BharatNetra and Odisha’s Vision
The President appreciated the Government of Odisha for launching the BharatNetra initiative aimed at building a future-ready workforce and innovation ecosystem in digital, financial, and insurance technology sectors. She described investments in skill development, global capability centres, and innovation capacity as investments in human capital.
Expressing confidence in the outcomes of the Black Swan Summit, she said the discussions and collaborations emerging from the event would have a transformative impact not only on Odisha but on India and the global fintech landscape.
