India's finance minister urges banks to use Web3 technology to detect fraud

09/18 02:44

Union Minister for Finance and Corporate Affairs Nirmala Sitharaman exhorted banks to plan for the next 25 years, embracing digital, modern technologies to make India a developed nation by 2047. While addressing the 75th Annual General Meeting of the Indian Banks' Association in Mumbai on Friday, Sitharaman urged the banks to use technologies such as Web3 and AI for the detection of fraud and generating early warning signals. “You need to have strategies to meet the aspirations of the youth of India in the next 25 years. You need to make your portfolios so that they are attractive to the young as well and make yourselves accessible to them,” she added.
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