New Delhi, April 23 (IANS). Indian banking sector stalwarts shared their views on new technologies and digital payment systems at the 6th PICU Fintech Conference organized by FICCI.
Speaking to news agency IANS, Surinder Kumar Thapar, Senior Advisor, Indian Banks Association, said that with every new technology comes some risks, but strong security systems (guardrails) are also present to deal with them.
He said that before adopting any technology, it is tested properly and necessary systems are installed. Therefore, major threats related to AI or agentic technology are not visible at the moment, because they are being continuously monitored and improved.
Thapar described the role of UPI in digital payments as very important. He said that UPI has played a big role in rapidly moving India towards a cashless economy. Today, the transactions done through UPI in the country and their total amount have increased manifold.
He also said that now even small shopkeepers are easily accepting payments through UPI, which is an indication that the digital payment system has reached every corner of the country.
At the same time, BusinessNext CEO Nishant Singh, while talking to IANS, said an important thing regarding cyber security. He said that the threat of cyber security is not limited to AI only, but it has increased even more due to AI. Although these risks were already present, their scope and impact have now increased.
He said that the government is continuously running many programs to make people aware, so that people can avoid digital fraud and cyber threats.
Nishant Singh also said that platforms like UPI are now allowing people to add other family members as well. With this, the younger members of the family, who are more adept at technology, can help their parents or elders. This is making digital transactions even more secure and easy.
–IANS
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