PM Modi Inaugurates Global Fintech Fest 2026, Calls for Next-Generation Innovation

Key facts

• Prime Minister Narendra Modi inaugurated the Global Fintech Fest 2026 in Mumbai on September 8, 2026, marking his third consecutive appearance at the event.
• India recorded 7.8 per cent growth in the April-June quarter, which PM Modi said gives the world renewed confidence amid global economic uncertainty.
• A Japanese credit rating agency upgraded India's sovereign ratings to the A- category after three decades, attributed to structural reforms and macroeconomic stability.
• Over 24 billion UPI transactions occurred in August alone, and UPI is now live in 11 countries.
• UPI celebrated its tenth anniversary on August 25.
• PM Modi called for integrating UPI with the domestic payment systems of partner countries, similar to the existing linkage with Singapore, and for developing indigenous payment rules and standards.
• The PM SVANidhi scheme integrated millions of street vendors into the formal credit system, boosting their average annual income by over 20 per cent, and has been extended until 2030.
• PM Modi urged the fintech sector to expand beyond payments into credit, insurance, savings, investments, and pension products.