Reserve Bank of India Governor Sanjay Malhotra highlighted the impact of fintech on the financial ecosystem. He noted that it has improved efficiency by reducing times for account opening and payment settlement, and lowering costs. Fintech has also strengthened fraud detection using advanced analytics.

The governor's remarks emphasized the role of fintech in transforming finance. Further information on his comments is available from the source.

Sanjay Malhotra spoke at the Global Fintech Fest, discussing the benefits of fintech in connecting people to formal finance.