RBI@90 Global Conference

The Global Conference on Digital Public Infrastructure (DPI) and Emerging Technologies was held during August 26-27, 2024, in Bengaluru as a marquee event of the celebrations of 90th year of establishment. This event was hosted collectively by DPSS, DIT, DoR and FinTech Department on August 26-27, 2024 at Bengaluru with the support extended by Bengaluru Regional Office.
The Conference was attended by close to 700 participants including 81 international distinguished delegates from 28 central banks and multilateral institutions such as World Bank, IMF, BIS Innovation Hub and ECB. Apart from RBI, Top management of banks, NBFCs, PSOs, FinTechs, IT entities, Industry associations and academia participated in the Conference.
The Conference was inaugurated by the Governor of RBI, Shri Shaktikanta Das and in his address Governor emphasized on the DPI's role in advancing financial inclusion through initiatives like Aadhaar, Jan Dhan accounts, UPI and Account Aggregator. The highlight of the address was that the launch of Unified Lending Interface (ULI), would form the ‘New Trinity’ of JAM-UPI-ULI marking a revolutionary step forward in India’s DPI journey. The Governor also touched on the potential of AI in financial services while underscoring the importance of its responsible adoption. Further, he stressed on the need to improve cross-border payments, advocating for greater efficiency and interoperability through adoption of technology based solutions.
Shri. S. Krishnan, Secretary, MEITY, made a special address on the topic ‘The road to Digital India-Key Enablers’ which highlighted the transformative journey of Digital India and its key elements. This was followed by presentations highlighting India's digital transformation initiatives, such as Aadhar, UPI, IT initiatives, CBDC and ULI. The Conference also featured Innovation Pavilions on major Indian innovations including CBDC, ULI, Digital India, Aadhaar, UPI, TReDS and SFMS.
Shri Nandan Nilekani, founding Chairperson of UIDAI, made a special address for the Panel on ’Digital Public Infrastructure and Inclusion’ and highlighted India’s unique initiatives in this field and the contributions made by RBI in this regard. The panel explored DPI's potential to drive national priorities, enhance efficiencies across sectors, and expedite progress towards Sustainable Development Goals. Panellists examined how DPI initiatives like UPI, Digital Identity systems, and others can democratize access to services, promote innovation, and empower underserved communities, and highlighted the need of policy frameworks for maximizing DPI's transformative impact.
Mr. Denis Beau, First Deputy Governor of Banque De France, made a special address, for the panel on ‘Emerging Technologies (AI/ML in Financial Services) - Opportunities and Challenges’. The panel discussion delved into the potential for AI to transform financial services and explored how AI can optimize decision-making, enhance risk management, and improve regulatory compliance. The panel also touched upon the various choices for central banks in this fast evolving area.
Mr. Augustin Carstens, General Manager, Bank of International Settlements, made a special address, for the panel on ’Cross Border Payments – Unlocking New Frontiers’. The panel which was moderated by Shri T. Rabi Sankar, Deputy Governor, RBI, discussed technological innovations and regulatory frameworks that can efficiency to cross-border transactions. It also examined the potential impact of CBDCs on international payments, the role of interlinking of fast payment systems, and strategies to enhance cross-border payment infrastructure for smoother global financial flows.
In the ‘Central Banking Roundtable’, senior delegates from various Central Banks made presentations on significant innovation initiatives of their respective country. Their presentations focussed on areas such as DPI, payment systems, CBDCs, application of emerging technologies and regulatory measures for consumer protection. A thematic event focussing on UPI was also organised for international participants by DPSS, CO, as an adjunct event.
The Conference also showcased the cultural heritage of India to the international and Indian dignitaries. The event received very good feedback from both international and domestic participants as well as speakers/panellists.