Speaking in Mumbai, Malhotra said fintech companies should approach users’ information through the responsibility they owe those users, rather than viewing it primarily as a commercial resource. His message places the handling of data at the centre of the relationship between financial technology firms and their customers.

The Governor highlighted trust as essential both for people to embrace the financial system and for that system to remain durable. His remarks connect customer confidence with the longer-term strength of financial services, rather than treating it only as a concern for an individual company.

Malhotra also said businesses that become significantly larger must recognise responsibilities extending beyond their own financial position. The focus was on their obligations towards the wider system as their scale increases, not simply on what happens within their own balance sheets.

Operational resilience and cybersecurity also featured in the report, although further details of those points were not provided. The supplied account does not state any new compliance requirement, implementation deadline or specific instruction for bank branches. It therefore should not be read as announcing an immediate change in operating procedures.