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President flags online fraud risks, calls for digital literacy in school curriculum
The President stressed that India’s fintech story should also be seen through the lens of gender justice.
President Droupadi Murmu on Friday called for integrating digital and financial literacy into school curricula, warning that online financial fraud can wipe out life savings and cause “severe mental and social distress”.
Addressing the ‘Black Swan Summit India 2026’ in Bhubaneswar, organised by the Odisha government and the Global Financial Technology Network, Murmu said rapid technological advancement has brought cybersecurity threats, data defects and misinformation alongside innovation.
“Online financial fraud can cause people to lose their life savings… It is therefore essential to create awareness among citizens so they remain vigilant and alert to prevent such fraud,” she said.
She highlighted steps taken by the government to tackle the problem, including the establishment of the Indian Cyber Crime Coordination Centre, the Citizen Financial Cyber Fraud Reporting and Management System, and the Cyber Fraud Mitigation Centre.
“Ensuring digital and financial literacy is essential to deter online financial fraud. This can be made part of the school curriculum so that the advantages and disadvantages of technology are understood at a young age,” the President said.
Murmu stressed that India’s fintech story should also be seen through the lens of gender justice. She noted that more than 56% of the 570 million Jan Dhan accounts opened over the past 11 years are held by women. “Fintech must view women not only as end users, but as leaders, professionals, and entrepreneurs,” she said.
She also pointed to persistent gaps in digital inclusion, especially among people in remote, tribal and rural areas who are not familiar with digital tools. “Fintech does not guarantee inclusion on its own… Skilling them is essential to make them participants in the development journey,” she said.
The President flagged India’s upcoming AI Impact Summit in New Delhi later this month, expected to see participation from around 100 countries. She said the government’s India AI Mission aims to ensure artificial intelligence is seen “not merely as a technological advancement, but as a strategic tool to enable inclusive growth.”
Describing India as the fastest-growing major economy on track to become the world’s third-largest, Murmu said the transformation has been driven by enabling government policies and innovation in digital and financial systems. “At its core, digital finance is about trust and human dignity…about making governance systems more responsive, transparent, and humane,” she said.
The two-day summit brought together policymakers, technologists, financial institutions and investors to deliberate on artificial intelligence, fintech innovation, sustainable finance, digital public infrastructure and the empowerment of micro, small and medium enterprises.
